Good Investment (Condo/ HOA Declared Bankruptcy in Recent years)

[Nicole Borden]

Hi Everyone!

Quick Question, would you purchase a property (apartment or condo) in an association that has declared bankruptcy in recent years (2017). The property has a new management company as well as new board members, but this does make me a little hesitant about following through. I am waiting to see if I can get any details regarding the bankruptcy, specifically if it was one incident or multiple that lead to insufficient funds in the account. For the past year, since the bankruptcy, the association has been functioning well and the numbers are looking good. 

Wondering what others thoughts are on this, and if anyone else has experienced this sort of issue? 

Thank you!!!!