Locked up a deal that’s not a deal

[Shawn Gardner]

Hey guys! Definitely need some brainstorming help with this deal. My partner and I locked up a property from a wholesaler and upon the initial walk through we anticipated a 60k reno. Now we're looking at the reno being closer to 75k and now the numbers are just way off. We got it under contract for 110k and the current value is 150k as is and it's rent ready.I'm curious to know if we should just walk away and forfeit the EMD or maybe try to find another end buyer. Any input is greatly appreciated. Thanks

[Sergey A. Petrov]

Under contract at $110k. Current value $150k. Take 10% for selling expenses and you are at $135k. A $25k gross profit without major efforts. Why not close, list, and sell for $150k? What am I missing?