Condo in DC by the metro- scared of the Condo association!

[Quin Weidner]

Hi all,

I found a condo directly across the street from a metro stop. The owner wants to get out, and I can get an AWESOME deal on it.

Problem is, a big reason he wants out is the condo association sucks. Whoever sold it to them sold off their parking spots, and mismanaged the association- which drove all the values down.

While they were evaluated at 130ish, the last one sold for 40k. I could probably get him down to a max of 30k. and rent is 1200-1300 over there. (fees are pretty big though)

The numbers seem great- but I'm terrified of the condo association. I've heard (and what I really need to do is get a lawyer to help out) that I can be partly liable for any major changes to the condo- beyond my monthly fees. 

Does anyone have experience with condos, constructive horror stories welcome!

thanks,

Quin