That sounds like a wise move. Problem might be the bank is not willing to sell at a large loss over the loan amount, is what I heard. Not a real big problem for me as an owner because there are 120 units in this condo association, so percentage wise not a significant factor.
I bought my condo so that I do not have to spend time on maintenance outside. In my calculation, expect 15% waste in a typical condo operation, so that is the price I must pay for convenience and more free time.
The other issue might be that the mortgage takes priority over the unpaid dues under the laws of your state. So if the bank is holding a loan of $120,000 on a condo that they can only sell for $100,000 then they would sell the condo, write off a $20,000 loss, and the unpaid dues would never get paid because they didn't sell the condo for enough money to pay even one penny of those dues. So even if the association foreclosed on the condo, they'd have to satisfy the mortgage lien first anyway. In that case, the association might be better off NOT foreclosing on it.