Short Sale - What should we offer?

[Vanessa Ramirez]

Hi,

My REI partner and I are considering making an offer on the house next door to my current residence. ARV would be about $145K. It is about to go on Short Sale and has foundation issues. The owner bought the house in 2006 and I believe started having trouble about a year ago. 65% of market value would be $87K. We were thinking of offering $80K to start. We are located in Round Rock, TX (Austin, TX area). My question is do you think we stand a chance of getting the property on short sale with this offer or where would you start if it were you?

Thanks,

Vanessa