Quote:
Originally Posted by YOWetal
The nature of the lawsuit would be important. Are they (condo corp) the plaintif? if so are they likely to win? Will this than fully fund the reserve study? An example of a common "good" lawsuit would be an owner (s) has not paid their condo fees in years and has thousands of dollars outstanding. This will eventually be recovered and improve the balance sheet of the corp.
I would highly doubt number 3. Regardless you could obviously make have finance approval as a condition.
While none of this is good you might be able to get a good deal because of it. Most Realtors and lawyers will tell you walk away at any complication to cover themselves, but sometimes it is worth looking deeper.
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They may win the lawsuit, however Canril Corp. may go bankrupt.
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