Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
We made an offer on a Town House in Highland Mills, NY. The offer was accepted, then we had a home inspection. The home inspection showed a small leak in the attic. We then hired a roofing specialist to come and do a thorough inspection, which he said the problem was an $800 fix.
Problem is, the Roof is the original roof, which had a 20 year life expectancy. The Roofer says we'll need to replace it in the next 2-3 years anyway, yet its not in such bad shape to be a deal Breaker. I feel like we should reduce our offer to reflect at least a portion of the future repairs. We are not interested in taking advantage of anyone, nor do we want to be taken advantage of. We honestly want to know what the best course of action would be for this situation. BTW, the Roofer estimated the roof replacement to be between 7k-8k. Please Help Me City-Data Dot Commers!!!
We made an offer on a Town House in Highland Mills, NY. The offer was accepted, then we had a home inspection. The home inspection showed a small leak in the attic. We then hired a roofing specialist to come and do a thorough inspection, which he said the problem was an $800 fix.
Problem is, the Roof is the original roof, which had a 20 year life expectancy. The Roofer says we'll need to replace it in the next 2-3 years anyway, yet its not in such bad shape to be a deal Breaker. I feel like we should reduce our offer to reflect at least a portion of the future repairs. We are not interested in taking advantage of anyone, nor do we want to be taken advantage of. We honestly want to know what the best course of action would be for this situation. BTW, the Roofer estimated the roof replacement to be between 7k-8k. Please Help Me City-Data Dot Commers!!!
Unless you are "in love" with the Town House I would walk away. You cannot see what other damage has happened. We had the old roof on our home replaced. In the past years it had "small" leaks from time-to-time which were fixed as soon as they appeared. When the old roof was removed we found much of the roof decking had to be replaced which added a substantial amount to the anticipated price, and it is difficult for the roofer to inspect for this damage because it depends on how the structure is built. So, for me, it would be a deal breaker, but only you, after considering all aspects of the situation can make that call
We made an offer on a Town House in Highland Mills, NY. The offer was accepted, then we had a home inspection. The home inspection showed a small leak in the attic. We then hired a roofing specialist to come and do a thorough inspection, which he said the problem was an $800 fix.
Problem is, the Roof is the original roof, which had a 20 year life expectancy. The Roofer says we'll need to replace it in the next 2-3 years anyway, yet its not in such bad shape to be a deal Breaker. I feel like we should reduce our offer to reflect at least a portion of the future repairs. We are not interested in taking advantage of anyone, nor do we want to be taken advantage of. We honestly want to know what the best course of action would be for this situation. BTW, the Roofer estimated the roof replacement to be between 7k-8k. Please Help Me City-Data Dot Commers!!!
Is this in a townhouse community, with a HOA? In many, probably MOST, cases, the outside structure, including the roof, is maintained by the assocation, and paid for through your monthly maintenance fees. Get in touch with the association and or maintenance company, find out what their plan is for the roof, including whether they have the funds to replace the roof.
I own a townhouse and roofs are owners' not HOA responsibility.
I consider an original roof with a leak and only 2 years' life left in it to be a bad roof.
Unless you are getting an absolute steal on this property, I would require the seller replace the roof.
I might consider the seller pay for only 90% (a 10% discount since there's 2 years left on 20) of the price of the new roof. I think the seller should get a few quotes, maybe it will actually cost less than the $7-8K quoted.
Different developments will have different roof arrangements. It should be looked into before doing anything else. Also, if you are getting a loan, you'll want to check with the lender. In some cases, they won't allow the loan if there isn't sufficient roof life left in the structure.
Anyone who would walk away from a property which has a minor leak in a 17 year old roof that could be repaired for about $800 is likely very inexperienced with typical real estate deals.
Similarly it is unrealistic to summarily call a aged roof "bad" and demand replacement as a condition of a deal - the expectation in a townhome community is that most units will have similar lifespan of major systems, therefore all the comps would likely be nearing the point of replacement...
While the OP could certainly ASK for some concession the overall local market conditions and relative value of comparable sales wil dictate whether the seller is wise to grant or reject such a request.
You are buying a property in its current condition, not its future maintenance needs condition. The seller is selling based on having a functioning roof. If I was the listing agent, no way would you get any reduced price because your inspector thinks you might need a new roof in 2-3 years. That's called HomeOwner's maintenance.
Anyone who would walk away from a property which has a minor leak in a 17 year old roof that could be repaired for about $800 is likely very inexperienced with typical real estate deals.
Similarly it is unrealistic to summarily call a aged roof "bad" and demand replacement as a condition of a deal - the expectation in a townhome community is that most units will have similar lifespan of major systems, therefore all the comps would likely be nearing the point of replacement...
While the OP could certainly ASK for some concession the overall local market conditions and relative value of comparable sales wil dictate whether the seller is wise to grant or reject such a request.
Quote:
Originally Posted by FalconheadWest
You are buying a property in its current condition, not its future maintenance needs condition. The seller is selling based on having a functioning roof. If I was the listing agent, no way would you get any reduced price because your inspector thinks you might need a new roof in 2-3 years. That's called HomeOwner's maintenance.
These.
If it is priced slightly below comparative properties with new roofs, then it is already in the ballpark, and asking for extra isn't reasonable. If not, then go ahead and ask. But if you are buying a 20 year old house, you should expect some maintenance to be required, and have that in your budget. If it wasn't the roof, it would be the A/C, or the water heater, or painting, or carpets. The question for your agent is whether it is priced according to its condition already.
And I also live in a townhouse in which I am responsible for all my own maintenance, interior and exterior.
I would tell you to pound sound if I was the owner and you wanted a price reductions because the roof "may" need to be replaced 2-3 years down the line.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
