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It's also not in your interest to tie up the home for a contract that includes defect that you KNOW will be a deal breaker if you know about it, and are unwilling to fix it.
When in doubt, disclose. Wasted time and failed deals don't help anyone.
Is the roof really a defect though? This person bought the house from a builder who didn't build to the level of quality they should have yet house still passed inspection and was sold.
I mean we could go through any house and find 100 things that could be done better, heck that's a home inspectors job. When my home inspection was done there's a ton of things he said needed t be done, that in reality 90% of people never do. For example insulating the pipes in my crawl space. I'm not going to go out of my way to mention things like that on my listing.
Unless her area has some building code which specifies a roof needs to have this particular shingle or boards spaced 12 inches apart as opposed to 16 I don't think its the seller responsibility to call out something that maybe could have been done more heavy duty
The buyer's ins. co will know the roof isn't good, and won't insure it. No insurance, no sale.
If yu don't replace the roof, you should advertise it as "needs new roof." That way, buyers know about that expense going in, and will expect to pay less than market for the house. The buyer can then select the kind and color of roof he/she wants. IF the buyer can pay for it before closing. Which brings up the need fr a pricey roof replacement before closing, possible delays, etc. And you can expect for your sales price to reflect the cost of the new roof, or a major part of it.
If you put on a new roof, put that in the description. It will attract some buyers. I ALWAYS looked at whether the roof was good enough to last a few years. It's a big deal. But you might lose a buyer if the color is wrong. Putting on a dark roof like charcoal gray or black in the deep south doesn't make sense, but people do it.
Small things aren't a big deal. Nice if they're done, esp if it's a cheap repair. It means something if a seller didn't even keep the home in decent repair, when the repairs only cost a few dollars. I wondered...what did they not do that I can't see?
Don't replace counter tops. I saw sellers replace counter tops because agents told them that's why their house wasn't selling. Wrong. If you replace them with granite or whatever, odds are that a buyer won't like the new counter tops, either.
Better to come down on price just a bit to compensate.
There's something to be said for a house looking "healthy" and having curb appeal. A patched up roof affects appearance. But you have to weigh the pros and cons. If you think the roof is insurable for at least a few years, it may not hurt finding a buyer.
Is the roof really a defect though? This person bought the house from a builder who didn't build to the level of quality they should have yet house still passed inspection and was sold.
I mean we could go through any house and find 100 things that could be done better, heck that's a home inspectors job. When my home inspection was done there's a ton of things he said needed t be done, that in reality 90% of people never do. For example insulating the pipes in my crawl space. I'm not going to go out of my way to mention things like that on my listing.
Unless her area has some building code which specifies a roof needs to have this particular shingle or boards spaced 12 inches apart as opposed to 16 I don't think its the seller responsibility to call out something that maybe could have been done more heavy duty
Yes, lots of small issues may not be deal breakers... but if the bad roof is called out by the appraiser or the insurance company, the lender won't finance it. If so... it's over unless the seller is willing to make that repair.
I am preparing to sell my house. It is only 8 years old, but it needs a new roof. The builder put on a roof that can withstand 50-60 mph winds, which is insufficient for this area. As a result, we have it to had it repaired several times and there is damage to the ceiling of one of the rooms in the house.
I could take out a home equity loan to get a new roof and repair the ceiling. Would this be better than just offering a new roof/ceiling allowance? I suppose if there is a prepayment penalty/early closure fee on the home equity, that would impact the decision also.
If there is damage from weather, call your insurance agent.
When we sold our last home, our insurance company paid to replace our hail-damaged roof. We threw in a little extra to cover architectural shingles.
The title is misleading; the OP asks a reasonable question which is "would it be better for me to re-roof my house, which needs it, before listing it, or to offer an allowance?"
Personally, since roofing isn't really a matter of personal taste (few buyers will rip off a good roof and replace it because they don't like what's there) I would probably replace it before listing the house. A bad roof will put off a significant number of buyers who want a house that's ready to move into without having to arrange repairs immediately.
I've never looked at "as is" properties. You know there's more problems and headaches waiting for you than the "normal" ones.
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