The hard part will be explaining you cannot pay the overage.  

"@ Frank ChinIn this specific instance, it is undeniable that a house was built on that property more than 15 years ago simply based on Google Earth data, but you can see by the county assessor records that the house on the subject property was built in 1950 and then the property encroaching was built over the property line shortly thereafter, in 1951.@ Matt Devincenzo,From the info in your post, the land does not seem to have officially been taken by AP.

It’s about staying curious and paying attention to the way Dubai is reshaping itself, both for the residents and the global community watching.

If your contract states that "time is of the essence", you could have forfeited your right to break the contract and get your EMD back simply by not adhering to the dates specified in the contract.

I give them pointers on how to build credit and over time most are in a position to "refinance" and pay off the Option. 

I'd like to use this to make an "all-cash" offer on a SFR, and then convert that to a conventional mortgage to pay off the HELOC.  

I will be paying about $44K out of pocket back into my HELOC.

My goal of refinancing was simply lowering our monthly spending to reallocate towards future investments.

Simply need the cash.

Also, if the capital gains are reinvested in real estate inside the country you won't have to pay any tax.