Condominium Living in Venice Florida
Looking for resort style living? Looking for a Condo with a view? Condominiums offer great amenities like a pool, fitness center, clubhouse, and many others.
We know waterfront property and waterfront Condominiums. Whether it’s Sarasota, Venice, Englewood, Long Boat Key, Casey Key, Manasota Key, Anna Marie Island or Port Charlotte Condominium you are looking for, Brad Tritschler is the agent to help you find exactly what you are looking for.
Experience the ultimate in Condominium living. Waterfront Condominiums are ideal for those looking to relocate, retirement, for a second home or even for an investment property.
Here along the Gulf side of Southwest Florida, there’s no shortage of sun and fun. Waterfowl abound, dolphins can be seen daily swimming and jumping, manatee lazily floats about in the bay and hiking trails can be picked up no matter where you find yourself. Boating, swimming, fishing, sunbathing, canoeing, kayaking, fishing, skiing, parasailing or just relaxing on the white sand beach are activities which can be found nearly every day of the year.
Venice Florida Real Estate Year-round Average Temperatures and Rainfall
A third-generation real estate broker in the Venice market area, Brad Tritschler has admirably upheld his family’s record of success and integrity in the business. Licensed as a sales agent in Florida since 1992, Brad also holds his broker’s license and has excelled in his field with an accomplished reputation for quality service and results.
Furthering Brad’s extensive knowledge not just of the market but of real estate, in general, is his seasoned background in construction. Brad has personally built homes from the ground up, with hands-on experience in every aspect of building from laying a foundation to adding those final touches like shutters and landscaping. Thanks to this, he has a keen eye for value and a sixth sense for matching a buyer with the right home or investment.
Looking for Venice Florida Waterfront Condominium? Call Brad Tritschler 941-716-1042!
Condos for sale in Venice FL come in many shapes and forms.
When you think of a condominium, you may picture a high-rise building on the beach that looks like a hotel. We have many of these in Southwest Florida. This style of condominium doesn’t even come close to telling the entire story of what configuration a condominium can represent. Condos in Venice Florida range from free-standing structures that look like single-family homes, to sprawling planned communities with attached villas, mid-rises, and high rises. Many condominium complexes offer the convenience of maintenance-free living. Most times when buyers ask for Venice Florida condos for sale they want a property they can enjoy for however long, lock the door, and not think about anything with regards to maintenance and security. I appreciate the appeal of this thought process more and more.
What to expect when owning Condos in Venice Florida and how are condominiums regulated?
Taking on a mindset of “community” helps a person understand what owning a condominium represents. In the next sentence is a short description of condominium ownership that will help clarify what I mean by having “community” mindfulness. In the majority of condominium ownership situations, you own the interior of the unit but share ownership interest in the common areas and land. This brings up an interesting point about insuring a condominium. The majority of condominium complexes and their association maintain the bulk of insurance coverage with the fees collected from all the unit owners. The bulk of insurance coverage is the windstorm, fire, theft liability, and flood insurance (if required). When you take into consideration how the collected condo free is used and what if covers, it becomes relatively comparable to owning a free-standing single-family home under Fee Simple ownership. Knowing that many condominium association fees cover insurance, exterior maintenance, ground maintenance, maintenance repairs, fidelity bond, escrow reserves, manager, private road, and recreational facilities, it becomes easy to see how the monthly or quarterly dues add up. Some places even provide basic cable, water, and sewer in the condo fee. When doing the math, owning a single-family home where you pay the same coverages and maintenance fees, the cost becomes very similar to owning a condominium.
Venice Florida Condos for Sale are managed entities via an association. The member directors with a president, vice president, secretary, treasurer, etc. help keep things running smoothly.
Condominium entities have very specific legal rights that should be explored by a prospective purchaser before committing to ownership. An interesting topic with regard to how a condominium association can collect fees came up during the Short Sale era we all lived through after the 2009 sub-prime mortgage meltdown. What ensued was the great recession. For a period of time, it changed the landscape of the real estate market dramatically. I provide this next example as food for thought and what can happen during your tenor as a condominium owner. As the Short Sale cycle raged during the great recession some unit owners were unable to pay their mortgage lien holders as well as the condo association dues. Simultaneously, some owners also had rent-paying tenants in place while not paying the condominium association. This produced a very complicated and contentious situation for unit owners and the association as foreclosure loomed overhead. The Association had certain rights under this situation and will exercise said rights when needed. This situation goes beyond just the unit owner and association. Every owner in the complex was impacted by this situation and had to deal with the fallout. At the end of this contentious situation, new laws were made to address how a condominium association can collect unpaid fees / dues. As you can imagine when the association is unable to collect fees from all the unit owners there is potential for a shortfall. These types of situations can also impact the marketability of a condominium. I always recommend to condominium purchasers to contact the management and association directors so as to come up to speed with all items on the current agenda. This includes looking as closely as the most recent year-end financials for the said association entity.
State of Florida is very specific about certain documents that must be provided a prospective purchaser and how long they have to digest the information. Here is a list of the required documents.
Current Declaration of Condominium
Articles of Incorporation of the Association
Bylaws and Rules of the Association
Copy of most recent year-end Financial Information
Frequently Asked Question and Answer Document
When ALL of the above documents have been provided to a prospective purchaser he or she must be provided three calendar days, excluding weekends and holidays, to digest this information. If any of these documents is provided after the execution of a purchase agreement the Buyer has a three-day right of rescission.
The Department of Business and Professional Regulation / Division of Florida Condominium, Timeshares, and Mobile Homes also requires a “Condominium Governance Form” explaining Role of the Board of Directors, General, Meeting and Notices, Elections, Association Finances, Role of the Unit Owner, General, Unit Owners Rights, Elections Voting, Association Budget. All the above documents need to be provided to the purchaser on correct forms and said delivery documented.
How do condominiums differ from owning a free-standing single-family home? Condominium vs. Fee Simple ownership. Here are three definition examples.
- Condominium: unit owner / entity owns the interior of unit but shares ownership interest in common areas and land with other owners in the complex. Fee Simple: A fancy way of saying owner/ entity owns the entire property, fixture / building, and the land beneath it.
- In contrast to Condominium ownership rights, you can own real estate by fee simple. Simple defined as unconstrained and Fee refers to legal rights of the land. Fee Simple ownership is the absolute and unqualified legal title to real property, including the buildings and land.
- A Condominium is a type of property ownership involving multiple-unit dwellings where a person or entity owns his or her individual unit, while the common areas are owned in common. All unit owners share in the cost and maintenance of the common areas. Fee Simple is a term referring to Real Estate and land ownership. The owner of the property has full irrevocable ownership of the land and any fixtures on the land. Fee Simple is the highest form of property ownership.