CoronaVirus and Closing

[Chris Cates]

What would you do. Have a deal in the Charleston, SC tricounty area that i'm about to sign a contract for but not sure due to the epidemic we have on hand. We have time to see market due to a long close but i'm wondering if it's best to just walk and save the $500 earnest money and hunker down for a few months instead. Facts below:

-3.5 month close to season downpayment fund source i will be using

-$500 earnest money deposit

-Current Valuation: $180,000

-Sale Price: $170,000

-Tentants in place, rented at $1290/mo

-historical 1% vacancy