Jessica, if you have cash for a condo, why are you considering complexes which are in litigation and thus virtually unsaleable today and un-resellable in the future? There is a LOT out there to choose from!
Even if you only have enough cash for a small or cheap condo, why not consider better-built complexes or ones that have stood the test of time (w/o ever having to litigate). If you have to take out a small mtg to buy something worth owning, would that be so bad?
PBT plumbing was predominately used in SD County construction between 1980 and 1984, with an occasional year before that and up to two years after that. After multiple class action suits by HOAs and individual owners, the manufacturers of the PBT pipe settled with each affected owner in the class for about $4400 in 1994. The lawyers were the only ones who really “won” in these mammoth cases around the nation!
Previous posters are correct that if there are currently only small claims suits to collect delinquent dues, this is acceptable unless there have been more than 12 of them in the past five years.
The first thing you need to do upon an accepted offer on a condo is to get your competent inspector out there pronto and order the HOA financials. Have contingencies in your offer for both. If the seller will not accept these contingencies, move on.
This is why I don’t believe attached condos are good investments.
