The cost of a roof to be credited.
Roof allowance for end of life roof.
After storms tree branches and other debris can build up on your roof.
If the roof has less than two years remaining life then the appraiser must call for re roofing or repair.
The truth is it really should ve been at more like 27 years.
Fluctuating temperatures in the winter can lead to partial melt and refreezing which creates ice dams.
Yes this is an expense to the seller but essentially they are just having the buyer finance it into their loan by not reducing the price.
The roof should have a remaining physical life of at least two years.
Not much but let s see how we got here.
A roofer we trust told us we will probably get another 2 to 4 years out of it at most.
Depending on the materials a roof could last longer than the average around 25 30 years.
So if a home inspect tells a potential buyer next spring the roof has 1 or 3 years left what would the buyer expect if anything.
For a roof that is nearing the end of its life you might need to ask yourself this discerning question.
The roof is showing signs it is near the end of its life.
If i spend 800 on repairs now will i regret that in two years when they take the entire roof off and throw it in the trash.
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A professional home inspector paid by the buyer will check everything from the base of the foundation to the tip of the chimney additionally looking for wood destroying insects mold asbestos and the presence of radon gas.
We foolishly spent as much in maintenance and repairs over the last few years of the original roof s life as we did on a new tile roof.
Following the end of attorney review a buyer will schedule a physical inspection of the house.
It is certainly possible that a tile roof could last 40 years.
Expected roof life asphalt roof.
As for the roof allowance being a credit one of my main points was the financing issue.
20 years start with the expected roof life and the white roof system has the lead right out of the gate.
The appraiser must clearly state whether the subject is to be repaired or re roofed.
The white roof system has an expected life of 20 years while the asphalt roof only has about 13 9 years of expected life.
Unknown rot or weak.
My personal home has a tile roof and it went 32 years before needing to be replaced.
Unless the appraiser can assure there is reasonable life left on the roof it will need to be replaced before closing.
These can wreak havoc on your roof so tend to them quickly.
Home inspection home repairs seller credits seller credits for closing costs seller credits to closing costs this entry was posted on monday march 2nd 2020 at 8 49 am and is filed under underwriting rules you can follow any responses to this entry through the rss 2 0 feed.
13 9 years white roof.
