No 2 years tax returns, months of statements, $700 appraisals, $1200 lenders title insurance, large origination fees or waiting 45 days with fingers crossed.The other advantage is refinancing is much easier on you and the property and if you bought with SF below market value, the value will come into play after 6 months. 

Luckily we had it and were still able to close on time, otherwise we definitely would have lost our earnest money AND the deal as there were 4 other buyers waiting in case it fell through.

Should I contact the seller and tell him thanks and wait for another opportunity down the road, or find a way to pursue this?

I will wait, however, until I talk to the attorney tomorrow.

Anything else you can work on while you wait for the end of tax season?

Prior to this rule, if you had received a cash out loan you would not have been able to get a HELOC on your home.In order to convert your 50(a)6 loan into a 50(a)4 loan you would need to…Wait 12 months or longer from when you received your 50(a)6 loanRefinance your 50(a)6 loan into a 50(a)4 loanNot receive any funds when you refinance into the 50(a)4 loanSo while refinancing will be an additional cost you can now tap your equity in the form of a HELOC whereas before you could not.

You just have to be able to wait it out if the market drops.

If it doesn't increase in value when the time comes and I do want to sell it (I plan to hold this one for possibly decades), I've just paid down thousands and thousands on this loan on someone else's dime.I'm not gonna give out any more personal information or hints at what this property might be.

Tracey you have run into the thousands of scammers on FB that are fake lenders.there is no such thing as a 4% land loan.the English is bad.. use common sense here..

There was a pretty interesting thread on this topic a couple of months ago... oh wait... you started it