As buyers actively pursue foreclosures in the country they may not be aware of certain statutes regarding the purchase of condominiums and/or properties located within a homeowners associations. In some instances condominium associations could be part of a homeowners association.
A prospective buyer should be sure the real estate agent they are selecting is aware of these statutes and be willing to obtain them in the case of a foreclosed property, when they are considering a purchase. [Read more...]