I no longer want to buy the home, can I cash out the equity?

Upwardly understand that plans can change and things may not work out. Fortunately, members can still cash out their equity if they choose not to purchase the home. The cash out amount is based on the home’s current fair market value. If the home’s value has appreciated up, then members could end up with more than what they contributed. On the other hand, if the home’s value has dropped, then members may end up with less than what they originally contributed. Please, keep in mind that cost of repair beyond normal wear and tear will be deducted from any equity cash out. For example,

Higher Fair Market Value
Initial Purchase Price: $200,000
Fair Market Value: $230,000
Phantom Equity Unit: 5.000
Cash Out Amount: $11,500 minus any repairs

Lower Fair Market Value
Initial Purchase Price: $200,000
Fair Market Value: $190,000
Phantom Equity Unit: 5.000
Cash Out Amount: $9,500 minus any repairs