Hey Calusa Tracer,
Is the roof truly that bad or is it just a highly critical opinion by the VA appraiser?
If it has at least 2 years left then you may be able to get an FHA Mortgage and get bond money from the State of Florida for up to $7,500.
You MUST use an approved lender and you cannot earn over about $85k for a family of four to get the money.
Iberia Bank is on the approved list and I can recommend:
David Scharrer LMB # 419374
Senior Loan Officer
3550 Buschwood Park Drive Suite 295 Tampa, Florida 33618
Office Phone: 727-726-8515
Fax Number 813-933-6699
To verify if your family size and income will allow you to get the downpayment money, you can check here:
It's risky--especially with a Short Sale to pay for a roof because the seller could then refuse to close or do a Deed in Lieu or a Deed for Lease where he could stay in the home with a new roof paid for by you!
Did you see the REO in Calusa Trace with a pool that just came back on the market? It's a Fannie Mae HomePath and you can buy it with 3% down and no appraisal required. You could also try with the State Bond Money and if the FHA Appraiser says the roof doesn't have at least 2 years life, then it's possible Fannie Mae will put on a new roof. Better hurry, though... it will go FAST. Here is the link and the homepath website is showing pending but the MLS listing says it's active:
All the best,
Alma Rose Kee PA
Future Home Realty