I’m sure this has been asked a lot. I’m just too lazy to search it up. So, I live in Florida and a family member is looking to buy a house. A lot of the places need new roofs. Why don’t sellers just get a new roof before listing? I mean, they know buyers can’t get homeowners insurance without one if they need a mortgage. Are they just hoping for cash buyers?
Are all the roofs of the houses you’re looking at leaking? If not, that’s why sellers aren’t spending big bucks on a new roof. That’s 25k they’ll never see again. Also, what buyers see as necessary upgrades, sellers don’t.
@EstateVoyager3
It’s a math game. Just because it needs a roof doesn’t mean it’s leaking. At least I hope not. Sellers wanna keep that cash and price it accordingly.
Hartley said:
@EstateVoyager3
It’s a math game. Just because it needs a roof doesn’t mean it’s leaking. At least I hope not. Sellers wanna keep that cash and price it accordingly.
For real. But then what happens when buyers find out? They might just walk away.
Yeah, but as a Floridian, if I see a house with a 13-year-old roof, I’ll definitely ask for a concession for a new roof because I know getting insurance is gonna be a hassle. It’s like the seller’s still paying for it anyway, so why not just do it upfront? Maybe they want buyers to choose their roof or something. I guess they hope for cash buyers who don’t mind buying ‘as is.’ But with the market being slow, I don’t know who would do that.
@Paxton
Honestly, I’ve never bought in Florida, so I’m kinda clueless about the insurance situation there. I’ve bought 8 houses elsewhere, though, and they all had roofs older than 13 years. 13 years is really the cutoff? I’d be okay with that if I had appliances from 1982 working fine. I’d be celebrating with a 13-year-old roof.
@EstateVoyager3
If you haven’t bought in Florida, you really can’t understand the real estate market here. It’s totally different, especially with roofs. No insurance if it’s over 12 years old. Like, it can be in perfect shape but nope, doesn’t matter. You’ll end up needing a concession or you’re selling to someone who just doesn’t know any better.
Oof, sounds rough. I guess the risk is roofs flying off in storms or just wearing out fast from heat. I can’t imagine having to deal with that.
EstateVoyager3 said:
Oof, sounds rough. I guess the risk is roofs flying off in storms or just wearing out fast from heat. I can’t imagine having to deal with that.
Yeah, and don’t forget hail storms and salt erosion if you’re near the beach. Roofs don’t usually fly off unless it’s a major hurricane, but they can get wrecked in those spin-off tornadoes. I lost 75% of my roof during Irma, and that was just a brush! Took ages for my landlord to sort insurance too. It’s a real nightmare here.
@Paxton
Yikes, that sounds like a huge hassle. I hope all the folks moving down are ready for that kind of risk.