Would you see a blind ophthalmologist? Or take singing lessons from a deaf vocal instructor? These absurd hypotheticals are on par with buying a foreclosed unit in a defunct condo association. It's just not going to work. First, no lender is going to fund the purchase. Second, even if you are paying cash you have to recognize that you are tossing money down the drain because your prospects of resale are minimal at best. Sorry, but the situation you describe sounds like a transaction that Michael Scott would pursue in the tv show "The Office." Aside from comedic effects the reality of it is fundamentally flawed.
Pursue your path boldly!
The Real Estate Lounge Chicago
mortgage lenders want to see a functioning condo association and will require that the association provide several documents, including a "fully paid assessments" letter and some form of condo information questionaire. if the association does not exist, you cannot get the paperwork and thus, you will not be able to secure a loan.
if you are buying all of the condo units or all of the unsold units, you MIGHT be able to secure a commercial loan so that you could "step into the developer's shoes" to complete construction/renovation/sale of the unsold units.