Condos vs Lawsuit: How does Green Lake Compare? Recently I had the need to look up some downtown Seattle condos for a buyer. One right after another I would find the perfect place. And one right after another there were pending lawsuits ~ some even lingering for 4 years. From a faulty roof to some twisting their ankle to the builder’s shoty construction.
Green Lake's Circa Condos
Oh boy, this is going to harder than I thought. Then I encouraged my buyer to look just 5 minutes north to Green Lake. I held my breath as I researched my Condos vs Lawsuit predictament. What did I find?
13 ACTIVE CONDO and/or townhome listings right now in Green Lake. Only one has a pending lawsuit. I can now exhale.
Lenders + pending litigation = red flag.
Lenders see the number of units going up for sale but none of them closing.
If you’re a buyer who has cash or a healthy downpayment – 20…30% or more and want rock bottom prices then by all means – consider buying that bank owned condo. Just make sure the builder has agreed to pay for litigation and remedy the problem in full. Also make sure any assessments are spelled out in the condo association.
The first question I raise when my client is thinking about purchasing a condo is whether the Home Owner Association is healthy. Does it have lawsuits pending, how are the reserves, what condition is the building in, are the monthly HOD in sync with the condition and ammenities of the condo building.
Green Lake is more populated with single family homes but there are some amazing deals right now for condos too ~ as low as $163,400 for a 1 bed 1 bath and clean as a whistle!
I look forward to hearing from you! Feel free to write any comments, questions, or feedback. If you’re in the condo or townhome market, Cooper Jacobs Real Estate would be happy to show you these excellent investments.
Comments are closed 
