Roofing and Selling A Home
Property owners who are planning to sell their homes often wonder what to do about an aging roof. Most people are unwilling to put a significant amount of cash into a remodeling project they will not be around to enjoy. Others reason that whoever purchases the property would rather choose their own roofing material and color.
Experts in the real estate industry disagree. They know from experience that curb appeal is very important to making a sale. A home’s attraction to prospective buyers depends as much upon a new-looking roof as it does on a nice paint job or a well-manicured lawn. Seeking advice from an expert at a Marlton roofing firm can help local homeowners make an informed decision about reroofing.
Additionally, if a roof is worn and nearing the end of its life span, it becomes a point of negotiation in any offer to buy. Realtors advise sellers against leaving themselves vulnerable to such gray areas. The buyers may leverage a drop in the selling price by bringing high-end replacement bids to the table while the sellers may have already deducted a reasonable roofing allowance from their asking price.
When a home inspector or a bank appraiser comes to call, a roof that needs work is one of the most obvious defects they will focus upon. The inspector’s opinion of the roof will hold far more sway with anxious buyers than the homeowner’s assurances that the roofing should last another five years.
An appraiser has the power to nix a purchase agreement on account of a structural problem. In the case of Federal Housing Administration and other government-backed mortgages, a bad roof can cancel the financing. In other cases, buyers are depending on the bank to loan them the majority of the home’s purchase price. If the appraisal comes in lower than the amount they hope to borrow, they may be forced to withdraw from their offer to purchase.
Sellers should also keep in mind that reroofing is a big undertaking that most buyers do not wish to tackle right away. While many new owners like to choose their own carpeting or paint colors, they don’t care about selecting roofing materials. This is because a roof is a necessary but utilitarian component of a structure that goes largely unnoticed as long as it functions as it should.
Homeowners can choose to wait and see whether fixing the roof becomes a contingency of the sale. However, if reroofing proves necessary, they run the risk of having too little time to properly address the problem before the deal is set to close. Rushing to find a roofer who can do a quick roofing fix may have negative repercussions later when a substandard installation fails. Not having the time to get several quotes may mean paying more too.
Having a new roof professionally installed before putting a home on the market makes good sense for homeowners who plan to sell. They can avoid future contention by taking care of the problem in advance. Sellers typically realize well over a 50 percent return on their reroofing investment when the sale is completed.Have a question regarding roofing, new skylights or roof leaks? Please ask Fortified Roofing of Marlton NJ today!
Common term explained by Fortified Roofing of Marlton NJ:
Home inspector
A home inspector is a certified professional who examines a property to identify structural or system defects prior to the closing of the sale. The inspector prepares a report for the client usually the prospective buyer that covers all property components, including the roof.
Marlton roofing FAQ of the day:
Does roofing quality matter if I’m about to sell my house?
The unscrupulous seller may select the lowest-cost roofing and the lowest installation quote, figuring that if problems arise later, the buyers will have to take care of them. However, poor quality is often very apparent to prospective buyers and their home inspection agents. Skimping too much on a new roof defeats the purpose in this case. Homeowners should spend what it takes to get durable materials and quality installation.
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