What Sellers and Buyers Should Know When It Comes to Roof DamageThe anticipation of selling or buying a house may come to a screeching halt with the discovery of roof damage. The roof is the most important component of a house, protecting the rest of the home from whatever Mother Nature throws its way – rain, wind, hail, heat and cold. So, when a roof is in disrepair, the integrity of the whole structure is compromised. Here’s what to expect when a damaged roof comes into play during the selling and buying process.
Selling a House with Roof DamageSellers who put a house on the market before fixing a damaged roof should take into consideration that:
- The asking price may be lowered. If, after an inspection, it’s determined that there’s significant damage, there may be negotiations with the buyers to adjust the selling price to cover the cost of replacement or repairs. A drop in the price means less profit, and less profit means less money in the sellers’ pocket.
- The closing date may be delayed. If it’s agreed that replacement or repairs must be done before the property ownership transfers hands, the closing date may be delayed. Any work will take time, and holdups may pose a serious problem for sellers when there’s an urgency to seal the deal.
However, sellers who put their house on the market with a brand-new roof enjoy several benefits. A newly installed roof:
- Becomes a key selling point for potential buyers.
- Makes an old home look new again while increasing its curb appeal.
- Helps to sell the house faster by opening up a new pool of potential buyers.
- Ensures peace of mind for both buyers and sellers.
Even repairs, or partial roof replacement, performed by trained construction professionals work to the sellers’ advantage.
Buying a House with Roof DamageGiven that a house is a big investment, buyers should consider the following when it comes to a damaged roof:
- Past problems become present and future ones. Damage from severe weather that has been neglected and never fixed may compound – month after month and year after year – until issues like water stains on the ceiling and walls occur. These problems may not have been apparent at the time of sale and may only show up after the time of purchase.
- Waiting for a qualifying storm is risky. High wind or hail storms that cause enough damage to be covered by insurance are rarely predictable. In the meantime, leaks and other problems continue to emerge and evolve without any monitoring.
- Working with the sellers may be the best solution. One possibility is for the buyers to have, prior to purchase, an inspection by a certified roofing and insurance restoration company that confirms claimable roof damage, and then they can ask the sellers to file a claim through the sellers’ insurance for replacement or repairs. This is a win-win situation where neither party has to dish out hard-earned cash.
Understand the True Extent of the Roof DamageAfter severe weather such as high winds and hail, roof damage may not be easily identifiable, especially the type that goes beyond noticeably large holes and patches of missing shingles. And, without the proper attention, overlooked damage can lead to a whole host of future problems, including leaks, mold, rot, loose shingles, bubbles and other forms of wear and tear associated with natural deterioration. Before embarking down the path of selling or buying a house, be sure to have all your questions answered by qualified roofing professionals.
Trust the Roofing Replacement and Repair Experts at Ashco ExteriorsIdeally, roof damage should be confirmed by a comprehensive evaluation from experts who work directly in the field. Unfortunately, home inspectors may not have the skills, time nor inclination to do a thorough assessment and may recommend fixes that don't address true structural deficiencies to warrant roof replacement or repairs.
That’s why it’s important to talk to the roofing specialists at Ashco Exteriors to get an accurate report of the extent of the damage. As trained professionals with years of experience, we pride ourselves on providing all the details needed to help home sellers and buyers make informed decisions. Sign up for our free 7-point inspection today!
Subscribe to Ashco Exteriors's Blog