$700,000 condo for $3,000? There's a catch!

[P. Martin]

What do you think of this situation?

Waterfront luxury condos. Foreclosed and struck off by the county. Minimum bids of around $3000. Sounds like a slam dunk right?

Except the complex was not finished! 4 buildings out of 7 were completed, and now there is a lawsuit between the developer and the HOA. Then the county foreclosed on the unbuilt units for back taxes, and they are now on the struck off list.

What happens here? If someone were to buy one of the phantom units from the county? 

[Roy N.]

Originally posted by @Robert Fisher:

Looks like a gamble to me.  The right person can make it work.  (Donald Trump?)

 He's a little busy at the moment, but give him 4-5-months and he'll have more time for something like this.