New house...new roof?

[tekmom]

Sorry, I must be going blind, I see you did have an inspection. Good luck in whatever you do!

 

[kellyf2626]

After our initial home inspection, we had a roof inspector, of our choosing, come and look. He determined that although it was alot of layers and looked pretty bad, it had about 5 years left.

I like this idea! Yes, we did have the home inspected my a certified inspector. He commented on the roof (shingles broken/cracked, "bubbleing" in some areas, etc...), but that was the extent. He recommended that if we did get it replaced, we get a 6ft. ice guard installed. But, I like the idea of getting a certified roof inspector. He would better be able to tell where the water damage came from, and make recommendations about the life of the roof. It appears whoever built this neighborhood used cheap roofing materials. When my DH drove down the street, there was actually another roof 4 houses down getting replaced - and many others looked new. Those that haven't been replaced looked terrible. I mean, shouldn't a roof last 25-30yrs? This house is only 20 years old!

We have a company going out today to give an estimate on how much it would cost to replace the roof, and have another going on Monday. I will keep everyone posted.....

 

[tekmom]

I like this idea! Yes, we did have the home inspected my a certified inspector. He commented on the roof (shingles broken/cracked, "bubbleing" in some areas, etc...), but that was the extent. He recommended that if we did get it replaced, we get a 6ft. ice guard installed. But, I like the idea of getting a certified roof inspector. He would better be able to tell where the water damage came from, and make recommendations about the life of the roof. It appears whoever built this neighborhood used cheap roofing materials. When my DH drove down the street, there was actually another roof 4 houses down getting replaced - and many others looked new. Those that haven't been replaced looked terrible. I mean, shouldn't a roof last 25-30yrs? This house is only 20 years old!

We have a company going out today to give an estimate on how much it would cost to replace the roof, and have another going on Monday. I will keep everyone posted.....

Good luck to you! Buying a house is so stressful. Hope you get everything you want. I deleted my original long winded post, because I see you did have it inspected. Keep us posted!

 

[kellyf2626]

I would walk away personally. This is a "red flag" situation.

I think you are going to have to sign a waiver that lets them off the hook, I think.
With insurance and things...very tricky waters you are going into.

You may find that your insurance company will not insure the property...

Be very careful!

My DH owns an insurance agency....so he is all over this! As much as I am the one that is emotionally attached to the house, he is the reasonable one (which is good). He is leaning to just walking away...especially in this market, where there is such a large inventory of houses! So, we will see.... As much as I love this house, we don't want to be house poor after some surprise problem after we close!

 

[The Mystery Machine]

I mean, shouldn't a roof last 25-30yrs? This house is only 20 years old!

We have a company going out today to give an estimate on how much it would cost to replace the roof, and have another going on Monday. I will keep everyone posted.....

No roofs DO NOT last that long. 12yrs is max really.

Wish you good luck!!!

 

[kami2199]

No roofs DO NOT last that long. 12yrs is max really.

Wish you good luck!!!

I don't know about 12 years but the shingles used then then are not as good as the higher grade ones out today. If it were a 15 year shingle then that would probably be about right. Did you notice spots on the ceiling when you were touring the house? Seller's often tend to think that buyer's should take a house AS IS no questions asked. I would have an appraisal done and let the appraiser have the inspection report. If the house appraised higher than what you are paying, you may be able to include repairs on certain types of loans. Then the seller's would be somewhat justified as they are basically saying that we let this house go "cheaper" because of the roof. The appraiser will take into consideration any repair work that needs to be done and would reflect that in the final opinion of value. If they discounted the house enough to to cover the cost for a new roof then the appraisal should reflect that as well. In an "ideal" market the appraiser will be able to find comparables with similar depreciation, will know what the market demands are for this type of thing and then will adjust accordingly. But not all markets are "ideal".

You may be able to rework the deal depending on your financial situation/lender to agree to a higher sales price that would cover the cost of the new roof so the seller's would not be out any money and you would really just be financing it...given it appraised for the higher amount. But I would say to be very careful. The person who said that "if they let the roof go, what else is wrong" is absolutely right. And...if you work this and get the new roof, I'd seriously consider paying the extra to get the higher grade shingles. The lady who owned the house we bought put a roof on about 6 years before we bought it and took the lowest bid out there. Turns out they quoted her on a lower grade shingle and we will be looking at replacing our roof soon. It would have cost more, but been cheaper in the long run for her (or us!) to have paid the extra for better shingles in the first place as opposed to a complete re roof job.

ETA: and make sure they are tearing off the old shingles before they put the new ones on!

 

[The Mystery Machine]

I don't know about 12 years but the shingles used then then are not as good as the highter grade ones out today. If it were a 15 year shingle then that would probably be about right.

When we had our last house roofed, the roofers said to halve the shingles.
So if it is a 30yr roof, give it 15yrs. You do not want to risk damage to your house.

For a roof 12yrs and up is considered old when you buy a house. Appliances (dishwasher, stove, etc..) are "done" after 7yrs, and major appliances are "old" after 15...like AC, furnance, etc...

That is just the general rule of thumb when you are house shopping. That way you don't overpay for the house.

 

[kellyf2626]

So...here is the grand finale!

We got several estimates, ranging from $5,100 to $7,700 to replace the roof. All quotes were given to the buyers for review. In the end, they agreed to pay $4,000 towards the roof. We thought about it for awhile, and decided that we didn't want to walk away from the house for about $1,000 out of our pocket. So....we agreed to take the $$ and go through with the purchase. We know there are still risks out there...but we really love the house! Everyone keep your fingers crossed that all works out ok! We close on October 27th!

 

[DVCLiz]

Congratulations! Glad it worked out for you, and that seems a reasonable compromise. You shouldn't lose a house you love over what in the end was relatively little. Just think, next summer you'll be floating in your new pool, looking up at your new roof!!!!

 

[I Love Pluto]

Congratulations on your new house - and your new roof! That was very good bargaining on your part to have the seller pay part of the cost. Now you can get totally excited!

 

[tekmom]

Congratulations! Enjoy your new home and your new roof!

 

[kellyf2626]

Thanks everyone!!