Buying a house that needs roof replacement(Atlas chalet shingles) (roofing, installed)
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We are under contract with a house. During inspection, our inspector told us that roof(9 years old) needs to be replaced as it's blistering all over the roof. As it's atlas chalet shingles, no insurance will cover it in warranty. He mentioned this in inspection report also. We don't want to buy the house knowing we will have to spend $15-$20k out of our pocket. We did some googling on atlas chalet shingles and found out there's some law-suits going on and there's no repair option.
What should we do. Should we ask sellers to reduce the house price or roof replacement? Sellers seem very greedy and unprofessional from our experiences. They are not even doing minor repairs that we have asked. I appreciate some help as we are first time buyers.
... We don't want to buy the house knowing we will have to spend $15-$20k out of our pocket. We did some googling on atlas chalet shingles and found out there's some law-suits going on and there's no repair option.
What should we do. Should we ask sellers to reduce the house price or roof replacement? Sellers seem very greedy and unprofessional from our experiences. They are not even doing minor repairs that we have asked. I appreciate some help as we are first time buyers.
If the owners have already expressed a clear unwillingness to make any minor repairs, it seems very unrealistic to expect them to warm-up to the idea of having a new roof installed on their dime. As for a reduction in the asking price, that also seems unlikely even with prices being overinflated to begin with (and they are greedy, right?). It will not hurt to ask, but if they fail to show flexibility on either front, it may be best to continue your search.
There are only 2 options. Buy the house or don't buy the house. If you're unwilling to spend the money for a new roof (my house also had those dam Atlas shingles, 66 squares, all new valleys/drip edge and "the most cut up roof" they'd done in 10 years and *LOTS* of decking repair, was $14k using architectural shingles), and the sellers are unwilling to pay, then don't buy it.
I didn't Want to replace my roof either, but my wife wanted this house badly enough to deal with the expense (and we bought the property at a price that allowed for the roof to be done without going over market value.) PITA, but we also got to choose the roof that worked best with our version of this house, not to mention the ability to pick a higher quality shingle.
It's just money in the end. If the house price is $15k lower than comps to account for the re-roof price, there's really no reason Not to run away. Though if you're looking for an underwater loan and don't have the cash to float the roof (or anything else)... well, those people dig their own holes.
The specific kind of roofing product mentioned is the subject of numerous lawsuits. Use a search engine and you will see LOTS of law firms eager to "assist" you with recovering funds for replacement...
We are under contract with a house. During inspection, our inspector told us that roof(9 years old) needs to be replaced as it's blistering all over the roof. As it's atlas chalet shingles, no insurance will cover it in warranty. He mentioned this in inspection report also. We don't want to buy the house knowing we will have to spend $15-$20k out of our pocket. We did some googling on atlas chalet shingles and found out there's some law-suits going on and there's no repair option.
What should we do. Should we ask sellers to reduce the house price or roof replacement? Sellers seem very greedy and unprofessional from our experiences. They are not even doing minor repairs that we have asked. I appreciate some help as we are first time buyers.
Thanks
You should:
approach the owners with reducing the price for the roof repair - show them the estimate and tell them you are still interested but they need to make a reduction. Tell the owner they will have to deal with this problem because everyone is going to know they have a roofing issue.
Double check to make sure there are no leaks - leaks are a non-starter - walk if there are leaks.
Shop roofing companies (they are a dime a dozen) - no way any asphalt shingle roof should cost $20K unless you live in a mansion and they replace all the boards too.
Compare the realistic replacement price with other comparable housing prices in the area to see if the house still make sense assuming the owner gives some discount.
==> Make a decision only on the information available not what others tell you (agents, seller, etc.)
Thank you all for replies. We like the house but at the same time, we're thinking realistically if it's worth or not in longer run. We can afford the roof replacement but we are already purchasing the house with $10k above its appraisal price. So, out of pocket $15k more wouldn't be worth it for the house. We asked seller to reduce the price by $15K. Of course, they denied at first and now talking about warranty transfer n all.
This is what listing agent is saying after talking to Atlas roofing corp: "The seller will receive a package to fill out and with the inspection attached will sent it back to them. Then they will send an appraiser to estimate the roof. The Atlas roofing will prorate the cost, which means, the roof should last 30 years but it is only 8 -9 years since was installed. Therefore you will received a check for a 2/3 of the total cost."
On internet search we are seeing many examples where Atlas roofing isn't paying anything in fact denying that their shingles were defective. Also, insurance companies are denying the claims too. We don't want to deal with this warranty transfer n all. It might takes months before we see any money. Does anyone know here if they have got any claims/warranty from insurance or Atlas roofing itself? Please advice how to proceed. Thanks a lot.
Thank you all for replies. We like the house but at the same time, we're thinking realistically if it's worth or not in longer run. We can afford the roof replacement but we are already purchasing the house with $10k above its appraisal price. So, out of pocket $15k more wouldn't be worth it for the house. We asked seller to reduce the price by $15K. Of course, they denied at first and now talking about warranty transfer n all.
This is what listing agent is saying after talking to Atlas roofing corp: "The seller will receive a package to fill out and with the inspection attached will sent it back to them. Then they will send an appraiser to estimate the roof. The Atlas roofing will prorate the cost, which means, the roof should last 30 years but it is only 8 -9 years since was installed. Therefore you will received a check for a 2/3 of the total cost."
On internet search we are seeing many examples where Atlas roofing isn't paying anything in fact denying that their shingles were defective. Also, insurance companies are denying the claims too. We don't want to deal with this warranty transfer n all. It might takes months before we see any money. Does anyone know here if they have got any claims/warranty from insurance or Atlas roofing itself? Please advice how to proceed. Thanks a lot.
Tell the listing agent to put what he SAID in writing, sign it, have it notarized as a contract and PERSONALLY guarantee that he will pay if the things he said don't come to pass in a year. He won't, because he knows he is blowing smoke up your buttocks.
You have gone from being an objective buyer to being infatuated with the place. As has been said, WALK AWAY. You don't need the tsuris.
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