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Updated about 2 months ago on . Most recent reply
Buying a condo with special assessment
Hello,
we are middle of purchasing our 2nd property. It will be our investment property. Tenant already there until Oct. This year.
But my realtor said they are going to do special assessment on this property and HOA runs badly. ( We requested HOA reserve document but no answers. )
We wanted to wait to see how special assessment going and close.
Now seller says they don't know when special assessment will be done so he rather want us to close end of January or back out.
My realtor doesnt recommend buying this due to special assement unknown and HOA runs badly.
However we are buyiny with good price.
What do you guys think?
We really want to wait until HOA done special assessment.
Property is 1 bed condo, First floor, build in 1993 and we are buying at 130K in Florida.
Thanks.