Paying for Unexpected Costs during Roof Repairs

April 21, 2008 | By Kelley Koehler | Filed Under Home Buying, Home Selling

I had one of my properties re-roofed last week, and the experience really drove home two points for me:

1. If you’re selling a home and it needs a new roof – just put it on now while you have time to gather and compare bids. It’s expensive, yes, but it takes a potential huge objection away from the Buyer as a negotiating tool.

2. If you’re buying a home and the roof needs to be replaced, make sure the Seller is going to be on the hook for any extra costs that might be incurred when the roof is replaced, for any extra damage that the roofers might find. Many times, you can’t get on a roofer’s schedule fast enough to have it all done before close of escrow.

My roofer found a layer of insulation we didn’t know existed and huge patches of dry rot and dry wood termites that we had to correct – which came close to doubling the cost to replace the stupid thing. Can you imagine if you had just bought a house and the roofer bill came in at twice the estimate due to the unexpected damage found underneath old layers of roof? You better make sure that the Seller is going to pay that bill.

Photo via Flickr, courtesy of marielito

tags: costs, real estate, repairs, roof, tucson

Comments

Got something to say?

Down Payments and First Time Buyers

The Tucson Home Pricing Game

Subscribe in a reader

Search this Site

Other Information That Might Be Helpful

When the Sales Price Isn’t The Market Value (October 14, 2009)
I was doing some market value research the other day for a little Central Tucson house, in a price range where home buyers wanting to use FHA financing tend to look. I had two decent comparable sales to use – but I noticed one sold to a buyer who used FHA. And that’s a huge flag that more research needs to be done in order to use that sale as an indicator of market values.