You could try selling to cover the losses, with it being in bad shape though, you might not get enough off of the sale to help you out. I would definitely suggest having someone come out to help you get it back into shape, in the meantime, you might want to try refinancing or taking out a loan to cover the costs. The best case scenario would be getting to a position where you can keep renting it out. Hopefully that won't be too difficult to do.
Property is typically sold as-is unless the purchase contract, and or any written addenda, specifically detail repairs... Since your original post was back in 2010, can you update us on how it went?... more
Cottonwood is fairly desirable because of the peaceful country lifestyle combined with beautiful custom homes. Lake California offers many amenities that appeal to buyers who have lived further down south, or out of our area. People like the idea of the "safe" gated community. Most people who grew up in this area don't desire Lake California as much because they are used to the country freedom without any rules or guidelines about how their home should be kept. There are many things to do in Lake California to keep you busy, and the Lake Club is always putting together different events for the residents. I myself, was born and raised in Cottonwood and I currently live in Lake California. Home values have come up quite a bit in Lake California, and it seems that it has become more desirable as many buyers from our area are realizing that an HOA is a good thing and they keep our homes more valuable! If you have any more questions, please feel free to give me a call at any time! 530-227-0080... more