Not to mention that since it's your first deal you really need to see how things progress for you during that first 12-24 months of ownership.  

I saw the potential in the area after talking with the people who live there and noting the proximity to progress near by.

At that point decide if I want to sell it and pay the seller off or keep for the long haul and hope interest rates aren't too bad in 10 years when I have to finance through a bank for the balloon payment.Do you all think this is a fair assessment or does it look like I am reaching because I want the house?

., to prohibit a board member from purchasing a unit at a foreclosure sale resulting from the association’s foreclosure on its lien for unpaid assessments or taking title by deed in lieu of foreclosure.

Just slow making progress when you see how powerful REI is.

Still in progress.

I would contact the developer in writing, so you have a paper trail asking about the progress.

@Zach McLeanHi Zach, i didn’t read all posts but saw you bought the property thinking construction was in progress but later discovered it stalled.Investing emotionally in property is now very risky.

Are you saying if you buy a distressed property cash at a lower price, the tax will be assessed based on that purchase price and thus getting lower tax? 

Hi John, if the seller's title company is the most reputable in the area and you have an open line of communication with them, when the listing agent, seller's lawyer, and title company have told me there are no liens it's clear, and I can give the title company the liens exceptions list from auction.com "Most liens are removed after a foreclosure property sale, but certain liens may remain.Here are some examples:Any lien recorded on title prior in time to the foreclosing mortgage.First Mortgage (if the foreclosing mortgage is a second or third mortgage)HOA or COA assessment liens (in certain states)Mechanic’s Liens (in some states)Government liens such as state and federal tax liens, city or county liens, US Government liens.IRS liens (IRS may buy the property within 120 days after sale at the price paid at foreclosure sale)Code Enforcement Liens, Environmental Liens, and Utility LiensChild Support Liens"to make sure the title insurance would have coverage for these exceptions, the list from auctions.com, would it still very worrisome to use their title company?