When you buy a home, the age of the roof plays a big part in the sale. If the roof is a certain age, the insurance companies will not write a homeowners insurance policy on the home. If you cannot get insurance, the lender will not approve the mortgage, which means no sale. Get the picture. Recently, insurance companies lowered the acceptable age of a roof in order to get homeowners insurance on that home. In Florida, a 3-tab shingle only has a 15 year life, and a dimensional shingle has a 20 year life. If the home you are looking at making an offer on has a roof beyond these ages, expect problems. If you are selling a home with a roof this old, you may need to replace the roof, or be willing to negotiate a price where the buyer is comfortable with buying and replacing the roof themselves. Either way, expect to have problems. As you can see, the roof adversely affects both sides of the sale.
It’s also a good idea to select a real estate professional who knows what to expect, and be able to make their buyers and sellers aware of potential road blocks to the sale. We at RE/MAX Select Professionals have the knowledge of the real estate market through continuing education, and practical experience. Don’t hesitate to contact us for all your real estate needs.
