Buying a Brickell condo should feel exciting, not confusing. Yet many buyers hit a wall when they hear about “milestone inspections” and “SIRS” and wonder what it means for safety, costs, and financing. You are right to ask. These reports can affect your monthly dues, your risk of special assessments, and even your loan approval.
This guide breaks down what each report does, the documents to request, how to read them, and how to estimate your true cost exposure in Brickell. You will also learn the most useful negotiation moves so you can buy with clarity and confidence. Let’s dive in.
Milestone vs SIRS explained
What a milestone inspection covers
A milestone inspection is a government-mandated structural safety review of an existing condominium. It focuses on components that could pose immediate safety risks, such as foundations, primary structural framing and connections, balconies and balcony connections, waterproofing that affects structure, exterior walls, and roof areas where deterioration may threaten safety.
The output is a licensed engineer or architect report that documents findings, flags critical safety items, and recommends repairs. It often includes a sense of urgency and high-level cost ranges. If urgent issues are found, the association typically must act quickly.
What a SIRS covers
A Structural Integrity Reserve Study, or SIRS, is a forward-looking planning tool. It evaluates structural and building-envelope components that affect long-term integrity and ties those findings to financial planning. You get an inventory of components, remaining useful life estimates, repair or replacement cost estimates, a prioritized timeline, and recommended reserve funding levels to avoid unfunded repairs.
Think of SIRS as your roadmap for medium and long-term structural spending. It helps associations plan contributions so big projects are not paid for only by emergency assessments.
How the two work together
The milestone inspection is the snapshot that finds present or imminent hazards. The SIRS is the budget plan that spreads future structural costs over time. In Brickell, you want both: the milestone tells you what must be addressed now, while the SIRS shows if the association is saving enough to handle what is next.
Who does what in Brickell
Where to verify requirements
Florida’s Condominium Act, state regulatory guidance, and Miami-Dade County rules shape what is required. To confirm the latest details for a specific building, check Florida Statutes Chapter 718, the Florida Department of Business and Professional Regulation, and the Miami-Dade County building department. Requirements continue to evolve, so verify age thresholds, coastal distance rules, and filing timelines for the property you are considering.
Who performs each report
Milestone inspections are typically performed by licensed structural engineers or licensed architects with structural and forensic experience. SIRS and reserve studies that include structural items are prepared by registered engineers or qualified reserve specialists who rely on engineering input for life and cost estimates.
Association duties and buyer disclosures
The condominium association commissions the milestone inspection and SIRS, maintains reserves, and executes repairs. As a buyer, you should expect access to these reports and related disclosures. Ask for them early in your contingency period and confirm the association’s plan and timeline.
Why lenders and insurers care
Lenders and mortgage insurers have project eligibility standards. Significant structural deficiencies, inadequate reserves, or large unfunded assessments can complicate loan approvals. Insurance carriers may also react to known structural issues with higher premiums or exclusions. In Brickell’s coastal environment, deductibles and loss history can be material to your risk.
Documents to request from the association
Start with this list and ask for the most recent versions:
- Milestone inspection report(s) and any follow-up engineer reports, repair plans, and official responses
- Structural Integrity Reserve Study or any reserve study covering structural components, plus updates
- Current budget and financial statements for the last 2 to 3 years
- Current reserve fund balance, preferably with a recent bank or treasurer statement
- Board and association meeting minutes for the last 12 to 24 months, including special sessions
- Estoppel letter showing amounts due, pending special assessments, and owner arrears
- Records of special assessments, votes, notices, and payment schedules
- Permit history for major repairs, replacements, and retrofits
- Contracts or bids for repair projects and any project schedules
- Insurance declarations, limits, deductibles, and exclusions
- Litigation records involving structural or envelope issues or association governance
How to read the reports
Key parts of a milestone report
Focus on three sections:
- Immediate safety items that require urgent action
- Near-term recommendations over the next 1 to 3 years
- Longer-term work and monitoring
Note whether costs are estimates only and if competitive bids are needed for accuracy. Confirm who is responsible for each item, whether association or individual owners.
Key outputs in a SIRS
Find these essentials in the study:
- Component list with remaining useful life for each structural or envelope item
- Cost estimates to repair or replace those items
- Recommended annual reserve contributions to meet projected needs
- A projected reserve balance compared to anticipated expenditures over time
- Assumptions for inflation, contingencies, and service life, and whether local pricing and coastal conditions were considered
A strong SIRS will align with milestone findings and model realistic scenarios for Brickell’s coastal environment.
Red flags in documents
- No recent milestone inspection or SIRS for an older building
- Language like “structural insufficiency” or “imminent hazard” without a clear plan and funding source
- Large near-term structural costs paired with a low reserve balance
- Multiple special assessments in recent years with more projects still pending
- Meeting minutes showing debate but no contractor selection or schedule
- Active litigation over structural or envelope defects
- Permits showing incomplete work, repeated corrections, or unresolved violations
Estimate your cost exposure
Quick method for buyers
Use this simple framework to understand what you might pay:
- Gather numbers
- Reserve fund balance today
- Cost estimates tied to milestone and SIRS findings
- Association’s proposed funding plan: special assessment, dues increase, or loan
- Estoppel details on what is owed by seller or buyer at closing
- Compare immediate costs to reserves
- If urgent repairs exceed reserves, you may see a special assessment or dues increase
- Project future reserves
- For non-urgent SIRS items, calculate the annual reserve shortfall: recommended contribution minus actual contribution
- Multiply that shortfall over the study timeline to estimate likely future assessments
How the association might fund repairs
- Special assessments: Could be due at closing or paid over time. Confirm who pays what at closing via the estoppel and negotiate accordingly.
- Monthly assessment increases: Raises your carrying costs and may affect loan ratios. Build this into your budget.
- Association loans: The structure varies. Payments may be passed through as part of dues. Some lenders consider association debt in project eligibility.
- Insurance deductibles after storms: High wind or hurricane deductibles can result in assessments if the building must fund a large deductible for covered structural repairs.
Financing and resale impacts
Lenders may require proof that critical repairs are completed or fully funded before they sign off on loans in a project. A building with a large, unresolved structural deficiency can face limited access to FHA, VA, or conventional financing, which can affect both your loan options and future resale. If you plan to finance, get pre-approval that considers the building’s financials and any upcoming assessments. Build in contract language that allows you to cancel or renegotiate if financing becomes impacted by project-level issues.
Negotiation strategies that work in Brickell
- Ask for the milestone and SIRS up front, plus the association’s written plan, timeline, and funding strategy
- Negotiate price reductions, seller credits, or seller payment of any assessment levied before closing
- Use inspection and document review contingencies to consult a structural engineer if needed
- Request escrow or holdbacks at closing tied to completion of certain repairs or securing project funding
- Time your closing to capture seller responsibility for known assessments where possible
High-priority red flags in Brickell
- No recent milestone inspection or SIRS for an aging high-rise
- Milestone report uses urgent language such as “imminent hazard”
- Reserve balance is below the cost of immediate repairs
- Several recent special assessments with more large projects ahead
- Board minutes show no consensus on plan or timeline
- Active litigation over structural or contractor performance
- Permit history shows stop-work orders or unresolved code issues
Your next steps
Follow a clear process to protect your investment:
- Request from the seller and association: milestone report(s), SIRS, last 2 years of budgets and audits, current reserve balance with a recent statement, meeting minutes for the last 12 to 24 months, estoppel letter early in the contingency period, repair contracts, permit history, and insurance declarations
- Consult professionals: a condominium attorney for disclosures and contract language, your lender to confirm project eligibility, and a licensed structural engineer if the findings or costs are unclear
- Negotiate protections: contingencies that allow termination or renegotiation if reports reveal unacceptable costs, seller concessions for levied assessments, and escrows or holdbacks for urgent repairs
A thoughtful approach to milestone and SIRS will help you decide not only if a Brickell condo is right for you, but also at what price and with what terms.
If you want a clear plan for due diligence, financing, and negotiation on a Brickell condo, reach out to the team that blends high-touch service with cross-market expertise. Contact Capdevila Realty for bilingual guidance and a smart, step-by-step strategy.
FAQs
Who pays special assessments after closing on a Brickell condo?
- Typically the owner at the time the assessment is levied pays; confirm amounts on the estoppel and negotiate seller-paid items when possible.
Will a milestone inspection jeopardize my mortgage for a Miami-Dade condo?
- Not automatically, but lenders may require urgent repairs to be completed or funded; talk to your lender early and align timelines with the association’s plan.
Are milestone inspection reports public for Florida condos?
- It varies; associations must disclose material information to prospective buyers, so request copies directly and verify local rules.
Should I hire my own structural engineer when buying a Brickell condo?
- A unit inspection helps, but for buildingwide issues rely on the milestone and SIRS and consult a structural engineer to interpret findings.
What is the difference between a milestone inspection and a SIRS?
- Milestone identifies current or imminent safety issues; SIRS projects long-term structural needs and recommends reserve funding to cover them.
