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Brian Alvarado
  • Rental Property Investor
  • New Haven, CT
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Should I come out of my contract

Brian Alvarado
  • Rental Property Investor
  • New Haven, CT
Posted

Should I come out my contract due to recession might happen and I could buy cheaper later?

Thanks any insight would be appreciated 😊

Closing date would be April 18 it’s a three family house I will be house hacking then when I move out it will cash flow.I am buying the house for what the seller is asking and about market price house hasn’t appraised yet

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John Teachout
  • Rental Property Investor
  • Concord, GA
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John Teachout
  • Rental Property Investor
  • Concord, GA
Replied

A recession doesn't mean this property will be available at a lower cost. Maybe, maybe not.

If you're already under contract, I'd follow through. The seller may be more willing to negotiate for needed repairs to get it to closing.

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