You would probably benefit from meeting with an attorney. Your question raises all sorts of possibilities about what may be going on.
First, if you bought the condominium for cash, you wouldn’t be getting a Deed of Reconveyance. A Deed of Reconveyance is like a release of a mortgage/deed of trust. Maybe there is another deed of trust on the property, which could make sense and prevent you from getting a loan.
Also, if the HOA bought the condo at a Sheriff’s sale—depending on the type of sale—there may be a redemption period that has not run, which could have some impact on your title and ability to get a loan.
Douglas N. Kiger, Attorney at Law
Blado Kiger Bolan, Tacoma, Wash.