He Found a Condo Priced $50,000 Below Market With Rumors of an HOA Due Reduction Coming, Made an Offer the Seller Accepted Within Hours, and Then Read the Financial Documents and Discovered a $4 Million Reserve Shortfall Nobody Had Mentioned
A condo priced $50,000 below comparable units with rumors of an HOA due reduction on the way sounds like the kind of opportunity that doesn’t come around often. It took about one afternoon with the financial documents to understand why nobody else had jumped on it. That’s the experience one buyer is walking away from…