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Condos For Sale, Sarasota FL

Find the latest and best condos for sale in Sarasota, Florida. High-rise, mid-rise, and low-rise condos, including apartment condos, condo homes, townhomes, and Villas. Find canalfront, beachfront, waterfront, and oceanside condos in southwest Florida. 

Condominium Listings

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200 Beachfront Residences 4141, DORADO

$23,500,000

200 Beachfront Residences 4141, DORADO

4 Beds 6 Baths 4,265 SqFt Residential MLS® # PR9106318
4021 Gulf Shore Boulevard N P11, NAPLES

$20,000,000

4021 Gulf Shore Boulevard N P11, NAPLES

5 Beds 6 Baths 6,498 SqFt Residential MLS® # O6288594
500 Plantation Drive Ph-3403, DORADO

$16,000,000

500 Plantation Drive Ph-3403, DORADO

6 Beds 12 Baths 8,000 SqFt Residential MLS® # PR9104928
N/A, SARASOTA

$15,450,000

↑ $250,000

N/A, SARASOTA

4 Beds 5 Baths 4,942 SqFt Residential MLS® # A4565068
N/A, SARASOTA

$15,300,000

N/A, SARASOTA

4 Beds 5 Baths 4,662 SqFt Residential MLS® # A4548578
N/A, SARASOTA

$14,150,000

N/A, SARASOTA

4 Beds 5 Baths 4,942 SqFt Residential MLS® # A4631467
N/A, SARASOTA

$13,750,000

N/A, SARASOTA

4 Beds 5 Baths 4,942 SqFt Residential MLS® # A4539437
N/A, SARASOTA

$13,400,000

N/A, SARASOTA

4 Beds 5 Baths 4,942 SqFt Residential MLS® # A4539483
1561 Gulf Of Mexico Drive 403, LONGBOAT KEY

$13,250,000

1561 Gulf Of Mexico Drive 403, LONGBOAT KEY

3 Beds 4 Baths 4,187 SqFt Residential MLS® # A4627926
3612 West Beach Residences 3612, DORADO

$12,777,000

3612 West Beach Residences 3612, DORADO

4 Beds 4 Baths 4,653 SqFt Residential MLS® # PR9113952
3832 West Beach Residences 3832, DORADO

$12,500,000

3832 West Beach Residences 3832, DORADO

4 Beds 5 Baths 4,538 SqFt Residential MLS® # PR9113680
N/A, SARASOTA

$11,800,000

N/A, SARASOTA

4 Beds 5 Baths 4,942 SqFt Residential MLS® # A4545843
N/A, SARASOTA

$11,700,000

N/A, SARASOTA

4 Beds 5 Baths 4,942 SqFt Residential MLS® # A4539360
N/A, SARASOTA

$11,550,000

N/A, SARASOTA

4 Beds 5 Baths 4,942 SqFt Residential MLS® # A4544348
N/A, SARASOTA

$11,500,000

N/A, SARASOTA

4 Beds 5 Baths 4,942 SqFt Residential MLS® # A4545844
555 Quay Common 1802, SARASOTA

$11,499,000

555 Quay Common 1802, SARASOTA

4 Beds 5 Baths 5,811 SqFt Residential MLS® # A4567023
435 L Ambiance Drive Ph-j, LONGBOAT KEY

$11,200,000

435 L Ambiance Drive Ph-j, LONGBOAT KEY

5 Beds 6 Baths 4,711 SqFt Residential MLS® # A4654351
3301 Bayshore Boulevard 2401e, TAMPA

$10,800,000

3301 Bayshore Boulevard 2401e, TAMPA

4 Beds 6 Baths 8,390 SqFt Residential MLS® # TB8376640

What should you know when buying a condo in Sarasota? 

There are many things to look out for when buying a condo in Sarasota. The construction materials, is it wood frame with stucco (not ideal) or concrete block (a better choice). How will you know? Many agents mistakenly list condos for sale in the MLS with incorrect building material. You will also want to know what the condo fees are and what they cover in addition to their reserves for such things as roof replacement (some complexes the roof isn't part of the condo fee - it is on the individual owners). You will want to know what the Rules and Regulations are, a lot of Sarasota complexes do not allow pickup trucks or motor cycles, or vehicles with commercial letting. If they do allow pickup trucks they may not allow ladder racks, Pet restrictions is another rule that trips buyers up, very few complexes allow pets over 35 lbs. Do you intend on renting it part of the year? Are you looking for a 55 and up codo complex in Sarasota? We don't have a lot of 55+ condo complexes in Sarasota. Also, there are strict rules on minimum rental periods, very few condos can be AirBnB rentals, The insurance costs go way up when a complex allows 6 months or less rentals. If you are looking for something to AirBnB in Sarasota you will have to be careful. Working with an experienced knowledgeable agent will be critical for choosing a condo in Sarasota and uncovering these answers. New state wide rules are also in place 

Specifically, they require sellers to provide:
1. Milestone Inspection Report (if over 3 stories high and over 30 years old)
2. Structural Integrity Reserve Study (SIRS) by law associations have to fully fund reserves.
3. Turn Over Inspection Report - which is similar to SIRS but is when a developer finishes out a complex and turns it over to the Homeowners Association
Sellers will have to ask for these and supply them to the buyers.
Buyer will have 3 days (not including weekend or holidays) to review them 
OR they can cancel the deal!
Ideally buyers will ask for these before making an offer as it can significantly can affect their monthly payments.
An experienced agent will also ask for the most recent meeting minutes for you so you can see what they are discussing as far as new projects that could also severely impact your monthly payment or enjoyment of the property. For instance a major golf course renovation that is going to take 1 to 2 years to complete. If you are a golfer and buy into such a complex it would be unfortunate not to get to play golf in your new neighborhood while you are also paying for it.
Many times you will see what looks like a great price but often the price is lower when the fees are higher.
Carrying costs are what drive prices down. If for instance a complex has been shorting the reserves for years and they are now they are required to be fully funded it can skyrocket their monthly payments to up over $1000 which has significant downward pressure on re-sale prices, as most buyers will not be willing to take on these new payments. Often when a price looks too good to be true it probably is.
When buying or selling a condo in Sarasota it is best to work with a true professional Real Estate Agent who can guide you and protect you and help you make the best and most informed decision.  
How to finance a condo purchase in Florida? Yes, this is becoming tricky business, most complexes in Sarasota and pretty much all of South West Florida, heck all of Florida will not be able to be financed with Conventional Loans (ie: Fannie Mae, Feddie Mac, Govt. backed loans). Why can't you get a conventional loan on a Florida Condo? So the answer is several reasons: 1. The new requirement for Reserve Study and the complex needing to be fully funded. 2. Storm damage clean up and repair work is on-going due to the severity of the recent 3 storms (Debbie, Helene and Milton) there just aren't enough contractors to make quick work of repairing the damage. The work ideally is done and paid for either by insurance or reserves fund and until that is reflected and verified, a conventional loan is not likely to get approved. 3. Legacy Inspection - same story (these are for buildings over 30 years old and 3+ Stories tall) - what ever work is deemed necessary should be completed, paid for and reserves in good shape otherwise a conventional loan is not likely to get approved. 4. General rules regarding conventional loans such as percent of renters to owners, and other rules have always tripped up conventional mortgages on condos.
5. Meeting minutes review with a fine tooth comb and any prior meeting referenced needs also to be supplied, this can drag out the loan review process and often come to a stand off. 
6. Insurance, Insurance, Insurance - if the coverage is not deemed correct, lapsed, or with exceptions this can be cause for conventional loan denial. A simple one is when a complex puts on new roofs and opt to save a little money on the insurance policy by only insuring the roofs for actual value vs. replacement cost. Sort of makes sense the 1st year that the replacement cost and actual value are the same BUT not in the eyes of Fannie and Freddie, because on year 2 if the association still carries the insurance for actual cost and not replacement cost there could be uncovered asset (no pun intended) for Freddie and Fannie.
So, how do you finance a condo purchase in Florida in light of all the issues of getting a conventional mortgage?
The answer in most cases is a Portfolio loan. What is a portfolio loan? This is NOT a govt. backed loan, it is a private or institutional lender who will generally go off the appraisal value and if that is good you are moving forward with your purchase.  These are generally 1 year ARM, or 3 year ARM but are very competitive rates to conventional loans. 
Again working with a professional local experienced agent is your best bet to find a mortgage provider who can do portfolio mortgage loan condo financing. You will not get these loans with your typical banks. Consult your real estate agent - we can help make your life easy. That's why we earn our money.  When deals go smoothly and you think - "wow they are overpaid that was simple" think again! It's through years of learning.  Like the old story goes, you don't pay the plumber to turn the wrench you pay him because he knows where to turn the wrench. 
At AW&Co we know where to turn the wrench. It's usually when people say "We want to use our bank" or "our..." when things go pear shaped and deals become harder than they should. 
Trust us we are your concierge real estate service company and we align with the best of the best, for each different scenario there is a different pro needed to turn the wrench and we'll call in that pro to make the process smooth.
If you want to make your home buying or selling process a breeze contact us.
If you have ever done a transaction without expert guidance, you may remember some pain points in the process.
We are here to make the process as smooth as possible. 

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