Bring cash. My offer on a $50k foreclosure in that complex fell through in 2010 because the condo association's books were a mess and I couldn't get a loan. Did you know that the condo association's finanical stability is part of a bank's evaluation of a property? I didn't! It was mostly things outside the assn's control (the bankrupt developer owed them $5k on a unit he still "owned", banks typically don't pay assn dues until they sell the unit so 1/3 of the properties had huge amounts of back dues). Hopefully in the last two years things have turned around for them... -Hannah Remtema [Two-Bedroom Condo Asks $75 K For A Short Sale]
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