Looking to buy unit with 4.3% of units delinquent on HOA dues.

[Paul Anderson]

Title says it. 4.3% of 100+ units are delinquent on their HOA assessments, an average of 6 months behind per unit.

I'm worried both about the delinquency percentage as well as the average number of months delinquent—they both seem a bit high, but I can't find any information on the internet to determine how typical this is.

The HOA seems otherwise healthy. They have a huge amount of money in reserve, but also have been planning and saving for major renovations.

The building is in a desirable neighborhood near downtown Seattle and has no rental cap.

I'm looking for general thoughts about this situation—would you buy or not, and if so, what extra due diligence would you perform?