Barrier Island hit hard during deal

[Todd Campbell]

My gut is telling me to run away from the deal that I have been working on.  What is your take? 

I have a signed PA for a property in North Topsail Beach, NC. Due to a complication on my end, I asked for an extension and it was granted. Our original close date was this past Wednesday. As you might have heard, the combination of the super moon influencing the tide, and Joaquin passing by, the area has been in a state of emergency.  Looking at the news posts, it seems the area just north of the condo I am in contract with has been hit really hard. Roads and parking lots destroyed.  

There is some question if the beach of the barrier island will ever recover. This paired with the losses the town is facing, I am thinking I am better off leaving my earnest money on the table and walking away. 

I do have some more time before the next closing date, so I should be able to better determine damages. But it will be difficult to determine if the town will be able to continue to afford beach erosion mitigation after being hit this hard.

Is this risk rising up and telling me to get out, or am I afraid to make money?