HOA Foreclosure - Wholesaling

[Daniel Beltran]

I'm from Las Vegas, NV and I'm currently trying to get my first wholesale deal. So far I have come across two different properties that are HOA Foreclosed. I was talking with a cash buyer at a REIA meeting and they said to be careful about HOA foreclosed homes since not many people are buying them. I wanted to know why it's a bad idea since I can't seem to find the answer!!!

This is the description of a home from a seller:
This was an HOA foreclosed property and the 60-day redemption period is over and I bought it from the company that bought it at the auction after the 60 period was over. You can't get title insurance on the property without further work. The superior part of the HOA lien was not paid by the mortgage company. This is great if you understand or research what it means. Title is in my name and will be transferred with a deed a County recorders office.. The HOA lien was satisfied. Don't get an agent/broker to call me, if you're not man enough to call get an attorney to call.