Thanks for your reply. This home is in a very distressed area. $162K is already relative a little bit high compare to other houses of similar size(~$160K if house is in fair condition). we offered $162K because house was really nice maintained. Even their own CMA only shows fair market value of $180K. But I suppose one should expect lower than market price for a short sale.
As for shingle roof - the house is ~10yr old, so the shingle roof will last another ~10yr(?). replacing roof for this 1-story home cost ~$6-8K, which means ~1.5-2yr's cash flow from rent will be used. That does make a big difference from tile roof(as described in the listing, not sure if it is unintentional) for a house in this price range.
I'd like to hear technically how to proceed so we can get some price correction for this roof thing.
It's ok if we don't get this home, it's just an investment property. But on the other hand, if we can work out things, that will be the best.
Thanks again.
