confused about buying a Condo -pls advice

[gigant1972]

What is the name of your state (only U.S. law)? ny

Hi,

I put an offer to buy a condo located in Union City-NJ; the offer was accepted and mortgage approved and maybe next week we are supposed to close;

The unit is a 2 small bedroom of about 650SF very close to bus transportation and 20 min from Manhattan; in a spanish area that is up and coming

The problem is that in the past 2 weeks I realized NY is not for me, i feel sometimes "trapped",
Stressed out,
And at times isolated and quite depressed
i often think of a place with beaches, more green and a different lifestyle; i do not have a plan yet on where to go; we lso thought to live out of the country for a period of time

Should i withdraw my offer (I don't know if we can an this point, we fear the seller can sue us)?

i though of keeping the condo as an investment but we are having nightmres of making a mistake:
What if i can't rent it?

What if the management will be too expensive?

On the other hand i fear that one we day we may want. To come back in NY and have a plce where to stay will be important

Please advise we need your advice and
Opinion

Thank you

[HomeGuru]

Originally Posted by gigant1972

What is the name of your state (only U.S. law)? ny

Hi,

I put an offer to buy a condo located in Union City-NJ; the offer was accepted and mortgage approved and maybe next week we are supposed to close;

The unit is a 2 small bedroom of about 650SF very close to bus transportation and 20 min from Manhattan; in a spanish area that is up and coming

The problem is that in the past 2 weeks I realized NY is not for me, i feel sometimes "trapped",
Stressed out,
And at times isolated and quite depressed
i often think of a place with beaches, more green and a different lifestyle; i do not have a plan yet on where to go; we lso thought to live out of the country for a period of time

Should i withdraw my offer (I don't know if we can an this point, we fear the seller can sue us)?

i though of keeping the condo as an investment but we are having nightmres of making a mistake:
What if i can't rent it?

What if the management will be too expensive?

On the other hand i fear that one we day we may want. To come back in NY and have a plce where to stay will be important

Please advise we need your advice and
Opinion

Thank you

**A: what other contingencies are there in the contract? Did you already receive and approve all the condo docs.