Advice - IHDA grant denied for buyer. Options?

[Angelica Osusky]

Hi everyone,

I conducted my first flip by myself in illinois and I am in the closing process. Just got news IHDA grant is being denied because the HOA is running an overall deficit. Not necessarily in the red but they do not have a large reserve. With that being said, that's roughly 7500 in loss money that will need to be made up.

Does anyone have any advice, suggestions, or ideas as far as mine and my buyers options? I know I can relist the property but I really would like to try and work with this buyer because it would be quicker close with them vs relisting and going through the closing process again with a new buyer. We already had appraisal, home inspection, etc.

Thanks for any input in advance!