I went into contract a month ago without a loan contingency. The seller has a tax deadline of this Thursday. If he misses it, he has to pay $153K on his gains of sale. His HOA was unable to complete parts of a questionnaire. They flat out refused to fill out out and because of this Wells Fargo couldn't get us the loan until today - the bank needed to get an exception which caused delays. The seller says we are a day late and he now has to pay the taxes since we can't close by Thursday. So he wants my escrow money and more. Can he get my escrow money? submitted by /u/Urbanlove2020 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/1gkuved/what_can_i_do/
Hi everyone, I'm facing a bit of a dilemma and could use some advice. I'm taking a job overseas for at least 3 years and need to decide what to do with my current home. Here's the breakdown: House: Single-family home built in 1994, owned for 8 years Mortgage: $375k at 2.25% (VA loan) Market Value: ~$700k Rental Income Potential: ~$3200/month for much smaller nearby townhouses Renovation Costs: ~$100k to prepare for sale/rental Options: Rent Out: Potential income but ongoing maintenance and property management costs Risk of vacancies and tenant issues Long-term appreciation potential Sell and Invest: Lump sum of cash to invest in low-cost index funds (Fidelity ZERO International Index, Fidelity ZERO Total Market Index) Potential for higher returns than real estate, but market volatility Loss of potential long-term appreciation from the house Questions: Is it worth the investment to renovate my house for rental or sale? What are the potenti