Home Buyer’s Tricks for Negotiation: Looking at the Roof and More
Purchasing a home is an important milestone. House hunting and looking for the right home can sometimes be a frustrating, cumbersome process. How do you know if you’re getting a house that won’t fall apart the second the realtor disappears? Like any investment, it is important to research prior to making a commitment to buy. While most people are accustomed to reading reviews and researching the pros and cons of the goods in question, figuring out the exact condition of the home can be tricky. Chances are that the seller is either unaware of some home damages or willfully refusing to disclose all the negative aspects of the house. As a result, it is important for buyers to take precautions before deciding to invest in a home.
The Importance of the Roof
The roof of the house is an often overlooked, but extremely important feature of the home. Besides adding character, a good roof is much more than just cosmetic. The roof protects the house and its belongings from external forces. When a roof is not functioning, the water damage caused by even the smallest leak can wreak havoc on homeowners, costing hundreds, if not thousands of dollars in damage.
The smartest thing a buyer can do is to hire a third party to complete a roof inspection. When hiring a contractor, it is important to hire one that will provide an inspection report along with the estimate. Most roofing companies will not diagnose the life of the roof and will simply provide a cost. To have the upper hand in negotiation, an inspection report, which diagnoses the roof’s problems and lifespan, can be an excellent negotiation tool.
If the inspection report states a new roof is necessary or that a new roof will be necessary within a few years, the buyer should negotiate a deal by proposing two viable options: (1) the seller can agree to replace or repair the roof prior to the sale or (2) the seller can lower the ask price to compensate for the cost of replacement. In any case, having multiple estimates to replace the roof will serve as an excellent negotiating tool.
When it comes to price negotiation, you are likely going to negotiate with the home agent or seller before settling an affordable price both parties are comfortable with. While the process can be tedious and even frustrating, it is better to understand what you are getting into before making a purchase that comes with a costly roofing repair. Below is a handy list that summarizes our tips for helping you to determine the roof condition of a prospective home:
Find out the age and type (metal, asphalt, and etc.) of the existing roof. This information is accessible in the home inspection reports and the periodical assessment reports from the sellers.
Carry out a personal survey report at the home premises to confirm the validity of the reports. For example, roofs with saggy shingles are signs that there are decays underneath the sheathing.
Check out the gutter to establish the amount of waste collected during the routine cleaning. Knowing this can help you establish whether a roof overhaul is needed (Note: A roof that requires an overhaul can greatly depreciate the sales price by at least 20%. If there are minor damages to the roof, you are given the option to further haggle the price).
Any cracks or misshapen shingles may imply impairment. Check the place in question. Inspect the roof from the inside of the house for any leakage.
For most, the purchase of a home is both exciting and stressful. Understanding your options and recognizing signs of caution about costly roofing problems will save you a lot of heartaches later. Happy home shopping!