There is a teensy-weensy little problem with our new home, which, remember, was listed at $995,000. It has no roof. The roof is completely shot, to the point that two separate roofers refused to give us bids for a patch. They say that patching this roof would be the roofer's equivalent of malpractice.
OK. On some level, I knew the roof wasn't perfect, since the seller's disclosure states that the roof is 40 years old. But I guess I figured we'd be able to squeek by for a few years.
We are planning to go back to the seller and ask him for a roof (about $14K). In this market, I think we have a chance. Despite the strength of "good" markets, there are houses sitting for 3-4 months--but we happen to know that our seller is doing a 1031 exchange and wants to sell pretty quickly. How, you may ask, do we know this? A little bird told us.