How do I dump an unsellable condo

I’ll skip the backstory, but basically I am trying to sell my condo and due to a confluence of factors, it is effectively unsellable (this is in CA):

– There is a special assessment potentially coming up, a HUGE one (think tens of thousands), and I can’t afford it

– Buyers can’t use conventional QM because Fannie/Freddie won’t back anything in my development due to too much deferred maintenance

– Investors won’t buy at even firesale cash prices because the HOA won’t allow rentals of my unit

Before you ask, I did look at the reserve study before I bought and it seemed fine, if slightly underfunded, like 70ish percent (not that I knew what the hell I should even be looking for, and my realtor was useless).

I just want to be out of this nightmare, what should I do? I’m not underwater but getting out of this making $0 with my credit intact would be a victory to me. My listing agent is the kind of person who if everything goes smoothly she’s probably fine, but when things go even slightly sideways she just kind of short circuits and does nothing.

submitted by /u/AllegedCerealKiller
[link] [comments]

I’ll skip the backstory, but basically I am trying to sell my condo and due to a confluence of factors, it is effectively unsellable (this is in CA): – There is a special assessment potentially coming up, a HUGE one (think tens of thousands), and I can’t afford it – Buyers can’t use conventional QM because Fannie/Freddie won’t back anything in my development due to too much deferred maintenance – Investors won’t buy at even firesale cash prices because the HOA won’t allow rentals of my unit Before you ask, I did look at the reserve study before I bought and it seemed fine, if slightly underfunded, like 70ish percent (not that I knew what the hell I should even be looking for, and my realtor was useless). I just want to be out of this nightmare, what should I do? I’m not underwater but getting out of this making $0 with my credit intact would be a victory to me. My listing agent is the kind of person who if everything goes smoothly she’s probably fine, but when things go even slightly sideways she just kind of short circuits and does nothing. submitted by /u/AllegedCerealKiller [link] [comments]

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