The seller hid the defect so at least here you know what you are potentially dealing with up front....that's why you should RUN!

When I started buying MH's in resident owned park communities or on private land and reselling them I obtained my RE brokers license once again because of the volume I was doing.I've been a developer by default as when I do purchase a lot/parcel and replace an old home with a new one or purchase an empty lot/s and develop them out I either sell them or keep them in my rental inventory.I've been dealing in distressed MH & site/stick built properties for 20 years and do a combination of all the above so I think it prudent to keep all my licenses and qualifications current and in good standing.Lastly, I've been a construction defect, park management/owner harassment, drainage and fraud expert witness, Industry expert for the California State License Board, consumer advocate at large for various TV, Radio and printed media outlets as well as a forenencis expert and consultant for myriad state attorney's general, district attorneys offices, county, state and federal agencies for over 20 years.

If there are any defects in your title found after you close then title insurance will cover the cost.  

The speaker was an attorney who specializes in Construction Defect.

Are there other title defects from earlier owners? 

Does your inspection clause allow you to walk for any/no reason or must you find major defects to cancel?

If the rest of the development is brick if they have an HOA they will not allow cheaper materials to be used on the exterior of homes.The problem with vinyl siding is some brands and years are defective.

So I don't know if the "bid" I am seeing as current no limit best offer is an educated buyer who knows about the property's defects, someone just feeling out the deal with a low-ball, a homeowner who might fall for the house and get in a bidding war, or possibly even...not a real bid.

I hate the lighting at Home Depot because it's all cheap stuff from China and I have had 3 times gotten defective product.

If you're "consistent with the neighborhood" but have a couple of weaknesses and are dealing with slow sales anyway, then you may just have to drop the price.You mention two story as a defect.