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Siyu Zheng
  • Investor
  • Mountain View, CA
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House near high voltage cable

Siyu Zheng
  • Investor
  • Mountain View, CA
Posted Dec 11 2016, 23:59

I recently presented an offer without any contingencies for a single family house in Sunnyvale California. After the seller signed the offer, I found a high voltage cable tower near the house (within 200 feet). I want to back out now. However, without any contingencies, it would be difficult to get back my earnest money. Here are two options given by my agent:

1. Seller returns half of the earnest money

2. Close the deal and rent it out in Airbnb. When the price goes up next March, sell the property. This will help avoid the loss of earnest money and might create some income. 

What I'm concerned is that the high voltage cabe might lower the resale value and I'm not sure whether the rent income could be able to cover all of the expenses.

Could someone tell which option is better?

Thank you!

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