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.
Roof allowance for end of life roof.
13 9 years white roof.
The roof is showing signs it is near the end of its life.
The roof should have a remaining physical life of at least two years.
My personal home has a tile roof and it went 32 years before needing to be replaced.
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.
And weatherization plays a large part in determining how often roofs need to be replaced.
Fluctuating temperatures in the winter can lead to partial melt and refreezing which creates ice dams.
It is certainly possible that a tile roof could last 40 years.
Unless the appraiser can assure there is reasonable life left on the roof it will need to be replaced before closing.
For a roof that is nearing the end of its life you might need to ask yourself this discerning question.
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.
Clean these areas frequently to avoid roof rot and other damage.
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.
If the roof has less than two years remaining life then the appraiser must call for re roofing or repair.
Asphalt shingles composite shingles metal roofs and other materials all have different life spans.
Following the end of attorney review a buyer will schedule a physical inspection of the house.
Not much but let s see how we got here.
As for the roof allowance being a credit one of my main points was the financing issue.
The appraiser must clearly state whether the subject is to be repaired or re roofed.
20 years start with the expected roof life and the white roof system has the lead right out of the gate.
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.
The truth is it really should ve been at more like 27 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.
A roofer we trust told us we will probably get another 2 to 4 years out of it at most.
These can wreak havoc on your roof so tend to them quickly.
Unknown rot or weak.
The white roof system has an expected life of 20 years while the asphalt roof only has about 13 9 years of expected life.
Expected roof life asphalt roof.
Depending on the materials a roof could last longer than the average around 25 30 years.
