buying a condo w/ litigtion pending

Financing, Hard Money Lenders, Private Money
1

I want to buy a condo w/ litigation pending against the property. Realtor told me that lenders will not lend money w/ litigation pending.

I do have money to pay 30% down, so where can i get the rest?

Thanks

2

Why would you buy. The creditor will have a superior claim to you any lender.

3

when buying condos there is a questionaire the assoc. has to fill out and any lawsuits is one of the question. If the HOA is in any lawsuit, the banks generally stay clear as they may lose there position. A HML will look at this the same way.

In SoFl after all the hurricanes, many people were trying to sell units but could not due to the lawsuits for damages to complexs and units.