Landlords, share your opinions: would you proceed to buy this SF

来源: 2012-03-21 21:32:18 [博客] [旧帖] [给我悄悄话] 本文已被阅读:

I have a SFH short sale approved, just did the inspection yesterday. I already know that the carpet may need replacement, house needs painting, and base molding missing. But the inspection found out roof needs to be replaced, crawlspace has insulation/heating ducts issues, the siding has some dry-rot, and one window got fogs. I was told the repair cost is 10-15k. The house approved at 152k, and is >15k below market. The typical market price for the similar short sale house (built in 90s) will be around 170k.

The rental is around $1500. So if ignoring the repairs, it is still positive cash flow.

I will ask the bank to reduce the price, but doubt the bank will accept it. If bank will not drop the price, would you still proceed to buy?