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Posted: 11/30/2005 8:26:31 AM EDT
I'm planning on buying a house from one of my coworkers very soon. During the home inspection however, the inspector found that the roof was at the end of its design life, i.e. it is a 20 year roof that is ~20 years old. The seller has offered to give me a warantee on the roof to pay $1500 (~50%) of the cost to replace the roof if it leaks during 2006. I think I'll give him a counter offer to extend a 33% warrantee for the second year. What do you think of this deal?
Link Posted: 11/30/2005 8:28:08 AM EDT
how about get a quote to have the roof repaired and split the cost.
Link Posted: 11/30/2005 8:30:07 AM EDT
I'd just replace the roof before it leaks. As long as there's only one or two layers of shingles on it you can just throw another layer on.
Link Posted: 11/30/2005 8:30:09 AM EDT

Originally Posted By hanau:
how about get a quote to have the roof repaired and split the cost.

+1

The house needs a new roof. Screw the "warranty" crap. Just negotiate the fraction of the roof replacement cost that each party will pay and move on. No need to extend this transaction beyond the closing date.
Link Posted: 11/30/2005 8:30:34 AM EDT

Originally Posted By hanau:
how about get a quote to have the roof repaired and split the cost.



it doesn't need to be repaired, it's not leaking right now. It's just old and will need a whole new roof in the near future.

Also I'm doing a 100% financing loan so as far as I know I can't get cash back from the cost of house, by the seller reducing the selling price.
Link Posted: 11/30/2005 8:31:42 AM EDT

Originally Posted By DzlBenz:

Originally Posted By hanau:
how about get a quote to have the roof repaired and split the cost.

+1

The house needs a new roof. Screw the "warranty" crap. Just negotiate the fraction of the roof replacement cost that each party will pay and move on. No need to extend this transaction beyond the closing date.




+1
Link Posted: 11/30/2005 8:31:58 AM EDT
[Last Edit: 11/30/2005 8:33:01 AM EDT by Max_Mike]
Screw the warranty wrangling and get enough knocked off the price to make it worth getting a new roof NOW… something you will have to do anyway so get it over now.

If you do get a leak repairs and clean up will be a pain in the ass… water damage, mildew, black mold, ect…

It ia a pay now or pay more later situation
Link Posted: 11/30/2005 8:32:21 AM EDT
Get some estimates. I was going to buy a house recently with an old roof. It was about 20-25 years old. Just shingle replacement was about 4k-5k, They thought the plywood also needed replacement due to leakage and that brought it up to about 9k-10k. The seller would not meet me in the middle, so I said forget it. It had to be replaced right away as it was just starting to leak and winter is coming. It's still sitting there with some sort of lame patch job and 5k knocked off the price. Should have taken my offer.

The house was a standard 3 br, 1,100 sq ft ranch.
Link Posted: 11/30/2005 8:33:51 AM EDT
If he will give it, take it, but having just had a leaky roof, and having to deal with the crap that went with it, i say suck it up, and replace the roof right now as part of moving in. I'd rather have 30 to 50 years of new materials comfort, than a year or two of wondering every time a storm blows thru.

peace of mind is worth a lot to me.

btw, if it makes you feel better, my new roof was 7K. 4300 labor, 3700 materials which i purchased directly from the supplier. 40 freaking squares of the good stuff.
Link Posted: 11/30/2005 8:34:51 AM EDT
Dude, Just do the roof. Get an estimate to replace the roof from a reliable outfit. Then offer to deduct half off the the purchase price, or have him do it, an add your half. 20yr roofs will out last the 20yrs only if done correctly. I just did my whole roof over after a complete ripoff, $14,000 later I will never touch it again. It adds to the resale value of the property.

Link Posted: 11/30/2005 8:36:40 AM EDT
[Last Edit: 11/30/2005 8:37:00 AM EDT by fight4yourrights]
The biggest mistake people make in their homes, IMO, is waiting until they are ready move to repair & replace things.



Buy the roof now. Peace of Mind. YOU get the full use and benefit of it.

Sure, you could nurse the existing one for a few years, and in 5 years it will be YOU paying for 1/2 the new roof when you try and sell it.


I've spent too much keeping things nice, just for the next owner to benefit. Do it early, and YOU get the full use and benefit.

This holds true for wood floors, new appliances, whatever
Link Posted: 11/30/2005 8:41:00 AM EDT

Originally Posted By DzlBenz:

Originally Posted By hanau:
how about get a quote to have the roof repaired and split the cost.

+1

The house needs a new roof. Screw the "warranty" crap. Just negotiate the fraction of the roof replacement cost that each party will pay and move on. No need to extend this transaction beyond the closing date.



+1 Logical and to the point----very well said!
Link Posted: 11/30/2005 8:43:16 AM EDT
Go with colored metal!
Link Posted: 11/30/2005 8:45:38 AM EDT

Originally Posted By crazyquik:
Go with colored metal!




Not all companies will insure your house then, they consider it a "tin roof"
Link Posted: 11/30/2005 8:47:10 AM EDT
I had a similar situation with the house I was selling. As it turned out, I was able to get a new roof entirely paid for by my insurance. Have him call his insurance company to see if there is any hail damage.

If that does not work, it should be easy enough to get him to raise the total asking price a little to offset the cost of a roof. They don't cost as much as you may think. Reroof= an AR15
a new roof = a Wilson .45

I woulden't bother to much with the warantees. They always have sneeky exclusions, and are generally a PITA.
Link Posted: 11/30/2005 8:49:26 AM EDT

Originally Posted By Taxman:

Originally Posted By crazyquik:
Go with colored metal!




Not all companies will insure your house then, they consider it a "tin roof"



When I was looking at building new I asked USAA about steel shingles. They said that it would increase the cost to insure, when the biggest payouts in this area every year are from hail damage.
Link Posted: 11/30/2005 8:49:29 AM EDT

Originally Posted By BillofRights:


They don't cost as much as you may think. Reroof= an AR15
a new roof = a Wilson .45




For a garage maybe......
Link Posted: 11/30/2005 8:50:12 AM EDT

Originally Posted By SmilingBandit:

Originally Posted By Taxman:

Originally Posted By crazyquik:
Go with colored metal!




Not all companies will insure your house then, they consider it a "tin roof"



When I was looking at building new I asked USAA about steel shingles. They said that it would increase the cost to insure, when the biggest payouts in this area every year are from hail damage.




Neighbor got dropped completly.
Link Posted: 11/30/2005 8:52:22 AM EDT

Originally Posted By SmilingBandit:
I'd just replace the roof before it leaks. As long as there's only one or two layers of shingles on it you can just throw another layer on.



why would you just throw another layer of shingles on in all of the houses that I have roofed I have never ever done that€
Link Posted: 11/30/2005 8:57:31 AM EDT
1- do not add another layer- PITH in future and HEAVY on your roof
2. I just did mine myself- (ranch) (mmmmm...ranch) and cost about 3000 TOTAL
3. its a lot of work to do yourself- do half at a time and get some help (beer afterwards is good incentive)
4. Get your discount- or preferrably cash at sale time
Link Posted: 11/30/2005 8:59:52 AM EDT

Originally Posted By SigSaurP228:

Originally Posted By SmilingBandit:
I'd just replace the roof before it leaks. As long as there's only one or two layers of shingles on it you can just throw another layer on.



why would you just throw another layer of shingles on in all of the houses that I have roofed I have never ever done that€



I said can not should. I'd do a tear off on my house, but I'd do the work too so the added cost isn't there. Just pointing out options.
Link Posted: 11/30/2005 9:02:54 AM EDT
Stop crapping around and buy a roof. Either make it a condition of sale or deduct the cost of replacement from the sale price and buy a roof. It will effect you loan and the value of your house, if it fails the damage may not be covered by home owners because you knew it needed replaced and did not replace it.

Why piddle? get it done already, it will not improve with age.
Link Posted: 11/30/2005 9:08:02 AM EDT

Originally Posted By SmilingBandit:

Originally Posted By SigSaurP228:

Originally Posted By SmilingBandit:
I'd just replace the roof before it leaks. As long as there's only one or two layers of shingles on it you can just throw another layer on.



why would you just throw another layer of shingles on in all of the houses that I have roofed I have never ever done that€



I said can not should. I'd do a tear off on my house, but I'd do the work too so the added cost isn't there. Just pointing out options.




Ohhhh Ok I was just wondering there. I gotcha now.
Link Posted: 11/30/2005 9:22:04 AM EDT
you guys are right, better to get it fixed now so that I don't have to worry about it and can enjoy the new roof while I live here then to have to worry about it all the time and then end up paying the cost to replace it anyway. Oh well, there goes my next AR for a little while.
Link Posted: 11/30/2005 9:24:28 AM EDT
[Last Edit: 11/30/2005 9:24:57 AM EDT by fight4yourrights]
Talk to the bank. You can probably roll your share of the cost into the loan.


If not, pay more for the house and have the seller pay for the whole roof job. Just make sure you structure it so YOU end up with the warranty
Link Posted: 11/30/2005 9:26:47 AM EDT
Get the roof fixed prior to purchasing. Split the cost, deduct cost from price, pay the agreed price contingent on the roof being fixed, or whatever.
Is it just the shingles and barrier or is it the whole thing down to the trusses or rafters?
Link Posted: 11/30/2005 9:30:43 AM EDT

Originally Posted By fight4yourrights:
Talk to the bank. You can probably roll your share of the cost into the loan.


If not, pay more for the house and have the seller pay for the whole roof job. Just make sure you structure it so YOU end up with the warranty



What he said...

If you stay below 80% of the appraised value, most mortgage companies will have no problems giving you the extra cash to replace the roof. If you go above 80%, depending on the company of corse) they may make you take out some insurance to cover your payments (can't think of the name of it right now) which tends to get expensive, plus your intrest rate would go up.
Link Posted: 11/30/2005 9:33:05 AM EDT
PMI insurance
Link Posted: 11/30/2005 9:41:16 AM EDT
As I already have stated, this is my first house and I'm doing 100% financing. So I don't think I can increase the cost of the house above the appraised value to fit the roof in, nor can I get cash back for reducing the price of the house.
Link Posted: 11/30/2005 9:42:37 AM EDT
The appraised value will go up with a new roof
Link Posted: 11/30/2005 9:49:51 AM EDT
talk to the bank and have quotes ready.they may cut a check on the roof cost to the company doing the work.since it will add value to the house.
Link Posted: 11/30/2005 9:52:49 AM EDT
[Last Edit: 11/30/2005 9:53:39 AM EDT by wildearp]

Originally Posted By ChairborneRanger:

Originally Posted By DzlBenz:

Originally Posted By hanau:
how about get a quote to have the roof repaired and split the cost.

+1

The house needs a new roof. Screw the "warranty" crap. Just negotiate the fraction of the roof replacement cost that each party will pay and move on. No need to extend this transaction beyond the closing date.



+1 Logical and to the point----very well said!



+1 I got the seller to drop the price to cover 1/2 of the roof than did it myself. 13000 nails and 3000 square foot of roof later............

I also re-roofed my old house so this wouldn't be an issue when I sold.
Link Posted: 11/30/2005 11:06:56 AM EDT

Originally Posted By DzlBenz:

Originally Posted By hanau:
how about get a quote to have the roof repaired and split the cost.

+1

The house needs a new roof. Screw the "warranty" crap. Just negotiate the fraction of the roof replacement cost that each party will pay and move on. No need to extend this transaction beyond the closing date.



+1
Link Posted: 11/30/2005 11:12:21 AM EDT

Originally Posted By QuantumPion:

Originally Posted By hanau:
how about get a quote to have the roof repaired and split the cost.



it doesn't need to be repaired, it's not leaking right now. It's just old and will need a whole new roof in the near future.

Also I'm doing a 100% financing loan so as far as I know I can't get cash back from the cost of house, by the seller reducing the selling price.



WTF? The time to replace the roof is before it starts leaking. If the roof is at the end of it's service life it needs to be replaced. If you wait until it starts to leak, then you will have the expense of the new roof + the expense of repairing the portions of you house that are damaged by the water.

If you don't have cash to repair the house, negotiate a purchase price with the seller paying for replacing the roof, and have the roofer paid out of escrow.
Link Posted: 12/14/2005 11:47:33 AM EDT
update: I got the roof estmate, just for replacing the tiles will be ~$4500, assuming the planking underneath is not damaged.

I found out I can roll the cost into my mortgage, which is awesome because it's like getting a $4500 loan at 6% interest. And then the seller will just pay me $1500 cash which I can use for other repairs. Is this a good deal or what?
Link Posted: 12/14/2005 11:52:54 AM EDT

Originally Posted By QuantumPion:
update: I got the roof estmate, just for replacing the tiles will be ~$4500, assuming the planking underneath is not damaged.

I found out I can roll the cost into my mortgage, which is awesome because it's like getting a $4500 loan at 6% interest. And then the seller will just pay me $1500 cash which I can use for other repairs. Is this a good deal or what? hr


Go for it. I couldn't believe that you would have considered going 2 more years on a worn roof. I bought my house 3 years ago that had a 30 year roof put on it 12 years ago but was worn. (in Fla a lot of people will pressure wash the roof and put a hurtin on it) I knew that it still had 8 years on the expected life and didn't replace it. Well, here comes two hurricanes. $108,000 later, I have a new house. The moral of this story, don't mess with the roof. Make sure it is in good shape. I know you don't get hurricanes but I don't get snow. IMO
Link Posted: 12/14/2005 12:04:32 PM EDT
Have you been ON the roof? Walk it feeling for soft spots in the decking, these indicate sheathing that need replacing.

I am on roofs just about every day, I have yet to see a 20 year old roof that did not need some decking replaced, some I have to be careful not to fall through the rotten decking.

The roof is the MOST inportant part of a house. Ever heard the term "Keep a roof over your head"?
Link Posted: 12/14/2005 12:17:09 PM EDT

Originally Posted By QuantumPion:
I'm planning on buying a house from one of my coworkers very soon. During the home inspection however, the inspector found that the roof was at the end of its design life, i.e. it is a 20 year roof that is ~20 years old. The seller has offered to give me a warantee on the roof to pay $1500 (~50%) of the cost to replace the roof if it leaks during 2006. I think I'll give him a counter offer to extend a 33% warrantee for the second year. What do you think of this deal?



___


Question...what type of roof? If it's a shake-type roof, don't replace with similar. I live in VA also, and these type roofs, while attractive, are not really meant for our climate. Luckilly mine was replaced during a hail storm ~ 6 yrs. ago. Replaced it with like just to boost the selling price. Otherwise, would recommend going to a traditional composite roofing material.



Link Posted: 12/14/2005 12:20:54 PM EDT
My roof was the same, it held for 3 years. I replaced it when I put the house on the market. I ended up selling my house for about 25% over the comps. New paint, roof, and cheep flooring do wonders...
Link Posted: 12/14/2005 12:21:13 PM EDT
[Last Edit: 12/14/2005 12:57:38 PM EDT by drjarhead]
Put a new roof on it. Gonna need it.

If you use shingles absolutely go with fiberglass shingles, trust me on this. A little bit more but hold up way better and much less prone to curling up.
My neighbor put a cellulose shingle roof up same time I had mine done. First good hail storm....his shingles are full of holes. Mine looks like new. His were curling up. Mine looks like new.
When he had to replace-again- I talked to him first. They already had the shingles stacked up and ready to go but he listened and he put a fiberglass shingle roof on. Much happier with result and it looks much better.

And pull the old roof off, replace the base layer after inspecting old plywood, etc.
do it right.

Doing it my way will cost maybe 15% more but save you headaches and expense down the road.

A roof is kind of like the tires and brakes on your car. A lot riding on them.


Cedar shingles are a fire hazard, BTW.
Also attract a lot fo bats in my experience.
Link Posted: 12/14/2005 12:24:03 PM EDT

Originally Posted By QuantumPion:
update: I got the roof estmate, just for replacing the tiles will be ~$4500, assuming the planking underneath is not damaged.

I found out I can roll the cost into my mortgage, which is awesome because it's like getting a $4500 loan at 6% interest. And then the seller will just pay me $1500 cash which I can use for other repairs. Is this a good deal or what?



Much better. Glad you did that. Waiting til you had a leak and water damage would have been the wrong thing to do.
Link Posted: 12/14/2005 12:25:31 PM EDT
To add:

I put my roof on for $4500 4 years ago.

Fiberglass shingles
Pulled old roof off
And that was for House, garage that is as large as my house and the shed.

Check around.
there are some VERY disreputable flybynight roofing companies out there so be careful.

I was lucky. My old nurse's husband has the best roofing company up here and I knew I was getting a good job. They did an awesome job and I couldn't be more pleased.

expect a couple of flat tires though.
Link Posted: 12/14/2005 12:30:59 PM EDT

Originally Posted By SmilingBandit:

Originally Posted By Taxman:

Originally Posted By crazyquik:
Go with colored metal!




Not all companies will insure your house then, they consider it a "tin roof"



When I was looking at building new I asked USAA about steel shingles. They said that it would increase the cost to insure, when the biggest payouts in this area every year are from hail damage.



WTF?
Link Posted: 12/14/2005 12:32:41 PM EDT

Originally Posted By fight4yourrights:
PMI insurance



Private Mortgage Insurance Insurance?

Link Posted: 12/14/2005 12:38:12 PM EDT
Link Posted: 12/14/2005 12:45:44 PM EDT

Originally Posted By KS_Physicist:

Originally Posted By fight4yourrights:
PMI insurance



Private Mortgage Insurance Insurance?




I get the money out of an ATM machine.
Link Posted: 12/14/2005 12:48:53 PM EDT

Originally Posted By fight4yourrights:

Originally Posted By DzlBenz:

Originally Posted By hanau:
how about get a quote to have the roof repaired and split the cost.

+1

The house needs a new roof. Screw the "warranty" crap. Just negotiate the fraction of the roof replacement cost that each party will pay and move on. No need to extend this transaction beyond the closing date.




+1



+2

Our house in Nashville was in the same situation when we bought it. You really don't want to "repair" a roof like that, you want to replace it.

Link Posted: 12/14/2005 1:02:02 PM EDT
I'm no expert but I've talked to three recently. Personally I wouldn't worry about leaks. What will happen first is the shingles will curl and the you'll have to rip them off to put on a new roof. That will just about double the cost. What I would do is figure how much the house is worth with a new roof vs and old roof and make the offer accordingly.

I've bought a 19 year old house where the previous owner did NO maintence at all. So I know more than I really want to about many aspects of the house.

Also come up with a dollar amount for what you think you will spend on moving, fixing and furnishing your new house. Then double it! I'm serious about this. There was so much small stuff that I never thought about. It adds up. Then Murphy shows up and he's an expensive m/f.

A home warrenty isn't worth much either. If it was broke when you bought it, it's not covered. There's also a list of things that they don't cover for each item.
Link Posted: 12/14/2005 1:12:07 PM EDT
I also found that the home inspection was probably the largest waste of money I have ever undertaken. Now I am not trying to dissuade you from that but by the time I bought my home I had educated myself enough and looked at enough places that I did a far better job than he did. What a waste of money.

And then the fucker hit me up for free medical advice on top of it. It was about his prostate and after getting reamed to the tune of $350 for nothing I was about to check his prostate in the fornt yard.
Link Posted: 12/14/2005 1:27:19 PM EDT

Originally Posted By drjarhead:
I also found that the home inspection was probably the largest waste of money I have ever undertaken.


You picked the wrong inspector! I used the same guy for twice. He found almost every flaw in both houses. The stuff he missed didn't add up to jack shit. My realtor knows another realtor who stopped referring people to him because a few customers backed out of sales after his inspections.
Link Posted: 12/14/2005 2:08:07 PM EDT

Originally Posted By gks452:

Originally Posted By drjarhead:
I also found that the home inspection was probably the largest waste of money I have ever undertaken.


You picked the wrong inspector! I used the same guy for twice. He found almost every flaw in both houses. The stuff he missed didn't add up to jack shit. My realtor knows another realtor who stopped referring people to him because a few customers backed out of sales after his inspections.



I couldn't agree more. Guy was highly recommended and was an idiot. Spent 45 minutes, got $350.
Fact is though, after my own inspection there were no surprises and we have lived here 8 years.

I think inspection is a good idea but I owuld compare it to having an attorney read my contracts. Every contract I got as an MD was easily discernable by reading. It was recommended by everyone that an attorney check them out but it was a waste of money each time. Last 2 I signed, just read myself. If there was something I didn't understand I would have taken it to an attorney.
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