Re: hoa lien sales

related: one of my best deals was a condo I bought via trustee sale on first mortgage. Before I bid, peeked in windows, lots of drywall repair,new tile, but condo basically gutted. After I bought a neighbor told me the condo suffered a big water leak. I thought I was screwed.

It turned out the previous owner vacated the condo when it had a water leak several months ago. The HOA was anxious to make forward progress on the condo, so they initiated a water claim with their insurance. The condo was 50% rehab'd when I acquired it at trustee sale. When I bought it, I met with the HOA manager, he said "no worries, your condo rehab will be completed by the insurance company within 2 weeks".. Sure enough, I had a buffed out condo in 2 weeks at zero cost to me. Flipped it, made fat cash.

No worries, be happy..........