This is a common question real estate professionals get asked when helping someone sell their home; “should we replace the roof?”

In essence, there isn’t a common “rule of thumb” to follow when replacing your roof. It can be a somewhat complicated decision and contacting professionals can certainly help rule out what the best (and most profitable) decision is.

Angie was contacted by Severe Weather Roofing and Restoration to give some advice on what she thinks home sellers should do at the time of the sale regarding the roof. Angie provided two scenarios to consider when selling your home with a roof that is questionable.

The first scenario involving insurance. It is important for the seller to understand the roof condition and course of action necessary prior to listing along with making property disclosure to the listing agent, cooperating agents and prospective buyers. If insurance will cover the cost of replacement then by all means I think the seller should get the reroof scheduled and in process immediately prior to listing the home. It is great to market a new roof to prospective buyers as buyers don’t want to inherit expensive problems. Furthermore, a buyer won’t be able to obtain financing or homeowner’s insurance if a new roof is required and not dealing with this up front could potentially cause delays in closing.

In a second scenario, if the roof needs repair and/or replacement that isn’t covered by insurance AND the roof isn’t currently leaking or causing damage then I believe it is best for the seller to have it inspected by a reputable roofer licensed in the area, get a written scope of work and estimate, disclose to all parties and budget accordingly. Roofs are expensive and if a seller doesn’t have liquid cash to pay for the reroof that can complicate things. Homeowners should obtain 3 different estimates. Sometimes the roof is just old and a homeowner can obtain a roof certification to provide to prospective buyers that specifies the roof has a life span of 3-5 years which should qualify the buyer to obtain insurance and continue with their financing. The buyer will have to budget for a new roof in the future. The seller should disclose everything they find out about the roof, allow buyer to conduct their own inspection and if both parties mutually agree that a reroof is required the buyer may be able to make the roof selection and make up the difference if they want a more expensive roof. The seller can pay a contractor immediately upon closing if the contractor agrees to complete the work prior and wait to be paid at closing. Another option is the title company withholds money from the seller’s proceeds and pays the contractor once the work is completed after closing. Work performed after closing usually needs to be done within 30-60 days (depends on lender requirements.) The end result in this scenario is the buyer is happy with the new roof and got to help choose it, title company is happy that they know the contractor was paid in full and the seller is happy he didn’t have to produce $8,000-$10,000 prior to receiving the proceeds from his sale. It is very important that sellers and buyers confirm with everyone involved in the transaction what the requirements are on when the work needs to be completed and how it can be paid for.

If you are selling your home and are unsure about replacing your roof, give Angie a call! Our team has an extensive list of professional and reputable contacts to help you decide whether to replace your roof or not. Bottom line: if you’re considering selling your home and debating about replacing your roof contact a real estate professional to help! We are happy to help in any way we can.