February 22, 2023

Selling a House With An Old Roof

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Selling a House With An Old Roof

Selling a House With An Old Roof

Selling your house is an exciting time if not for certain damages and issues that may be discovered during an inspection. Among which is the problem with old roofing.  

While you can list a house with an old roof in the real estate market, there is no assurance that someone would take interest and wouldn't bargain for the price. Your best option when selling a house with an old roof is selling as-is to a cash buyer. Cash buyers won't ask you for any repairs and they'll give you a fair cash offer.

To learn more about selling your house with an old roof, keep reading! We've also covered roof repairs and replacements so you can explore all your options.

Can You Sell a House with an Old Roof

Can You Sell a House with an Old Roof?

Yes. You can sell a house with an old roof. No state laws prohibit this; however, you have to stay on the right side of disclosure.

You should not cover up your bad roof by making temporary repairs since this will be discovered during the inspection. 

Most homeowners go as far as making repairs to their current roof just to find potential buyers in the local market. But if you really want to see a successful home sale, sell the home as-is to a cash buyer or real estate investor.

Risks of Selling a House With an Old Roof

Risks of Selling a House With an Old Roof

If you plan to list your home with an old roof in the local market, the sale can be riskier.

For starters, the buyer would have more negotiating power compared to when you make roof replacements or repairs.

Here are some more risks of selling a home with an older roof:

It May Not Pass the Roof Inspection

A home inspection is one of the bases of the buyer when purchasing a property. Of course, they would want to know how many years more will the existing roof last.

If the home inspector discovers that your roofing has already reached its life expectancy or even surpassed it, they may pull out of the home sale.

Remember that inspectors are trained to look for signs of excessive wear and damage during home inspections.

So no matter how much you hide the age of your existing roof through repainting, they'll still notice missing or broken shingles, mold growth, holes, gaps, and the presence of standing water. 

The Final Sales Price May Be Lower

When you sell a house with a bad roof to the local market, you are putting the potential buyer to an advantage.

They may bargain for a very low selling price when you sell the home as is since they'll pay for the cost of roof replacement or repair. 

In other words, you won't pocket that much out of the sale. This would be a huge problem if you still need to settle your mortgage using the proceeds.

The Mortgage Lender May Refuse Financing

Mortgage lenders also have the power over a house sale because the buyer depends on them for financing. And since the roof is considered a big deal because of its impact on the overall stability of the home, the lender can refuse to finance it if it is old. 

While mortgage lenders seem brutal by rejecting loan applications, it is actually in the best interest of the buyer and the mortgage company.

A home with a bad roof poses a hazard to its occupants. Meanwhile, the lender might be at a loss if the house goes through foreclosure. It won't sell for a very good amount because of its bad roof.

The Home Won't Be Insured

If the roof or your home is more than 20 years old, some insurance companies won't give you a policy unless you make a roof replacement or you pass roof inspections. In most cases, they would only pay cash home value for the replacement. 

Failing to get or renew home insurance is a big turnoff for many house buyers.

Signs That Your Old House Roof Needs Repair or Replacement

Signs That Your Old House Roof Needs Repair or Replacement

Most of the time, a simple look at your roof won't tell you if it's old and needs replacement or just minor maintenance.

You need to learn about the exact damages or issues you should be looking for so you can do a thorough assessment.

Here are the signs that your bad roof needs some work:

  • Wet or Dark Shingles: In this case, the shingles may have trapped moisture that can lead to mold growth and roof damage.
  • Cracked, Curled, or Missing Shingles: This means the missing shingles have already reached their life expectancy.
  • Extreme Wear and Tear: This pertains to roof openings and wear and tear around pipes, chimneys, or vents.
  • Granules of Asphalt Shingles Found in the Gutters: Shingle granules are black, sand-like material that resulted from damaged shingles being worn out.
  • Ceiling and Interior Wall Staining: Water stains or any discoloration on your interior walls and ceiling mean that your roof has leaks.
  • Peeling or Blistering Paint: Peeling and blistering paint on your walls can be a sign of excess moisture or humidity that is caused by bad roofing.
  • Outdoor Light in the Home's Attic: Outdoor light in the attic can be caused by gaps on your roof. These same gaps can lead to leaks.
  • Sagging Roof Deck: If your attic's decking or rafters are sagging downwards, it's a sign of a moisture problem in your roof.

Roof Repair vs. Roof Replacement

Roof Repair vs. Roof Replacement

When your roof is still in decent shape, and you can easily identify the problem spots due to normal wear and tear, simple repairs and maintenance service would suffice. Roof repair costs are pretty cheap and you won't need to hire a roofing specialist

But if the major repairs seem to be never-ending and your roof's age is already above 20 years, it is suggested to do a roof replacement with the help of a roofing contractor. 

Installing a brand new roof before selling means getting improved energy efficiency, superior protection from changing weather conditions, a more durable and intact structure, and a better overall house appearance and curb appeal.

It also makes a convenient selling point and possibly increases the resale value of your home if your agent is good at strategizing.

How Much Is a New Roof?

How Much Is a New Roof?

Roof replacement, on average, can cost $7,000 inclusive of the fee for the roof contractor, roofing material, etc. Meanwhile, larger and steeper roofs can cost upwards of $100,000.

This figure can still go up depending on your roof's condition, the roofing material that would be used, the slopes and features of the roof, and your location.

If the roof has solar panels installed in them, you would also spend on the removal and replacement of the panels which can incur around $1,000 to $6,500. That is why it isn't recommended to replace the roof before selling.

How Much Value Does a New Roof Add to a House?

How Much Value Does a New Roof Add to a House?

Unfortunately, a good roof wouldn't add much value to your property. To illustrate, you would only recoup around 60% of what you spent on roof replacement. 

Recent data from the Remodeling Magazine suggest that asphalt roofs only see a 60.7% return while metal roofs have a 56.1% return.

Although a new roof will impress prospective buyers when they purchase homes, it won't give you anything valuable in return compared to other high-impact renovations or home improvements like overhauling the kitchen or replacing the garage door.

Hidden Costs of Installing a New Roof?

Hidden Costs of Installing a New Roof?

Aside from the money you'll spend on the installation of a new roof, there are some hidden costs you should also consider.

Time

Replacing a roof is not as simple as it looks. You have to research the best roofing materials, get cost estimates, contact a roofing contractor, and be present while your bad roof is being stripped off and the new roofing is being installed.

You might need to take time off work if you would do roof replacement. 

Home Expenses

The best time to do roof replacement for your roof in poor condition is during spring and summer. But these are also the best times to sell a home because of the competitive market. 

What this means is that you won't be able to list during these seasons as you complete roof replacement.

You would have to move the sale during the winter when not many people are looking for homes or wait for the next summer or spring.

Putting off the sale for a longer time means you'll still pay the mortgage, taxes, insurance, and maintenance. 

Other Costs

When the old or bad roof is stripped off, you may discover more issues that need to be addressed before you can install the replacement. Of course, major repairs of other issues would cost you more money.

Can You Refuse to Replace the Roof if a Buyer Requests It?

Yes. Home sellers can refuse the buyer's request for a roof replacement; however, this means the buyer has the right to negotiate for a lower sales price. 

It is another story if the lender asked you to make a roof replacement. If you fail to do the request, you won't get loan approval and the sale will fall through.

You don't really have a choice unless you have another buyer in the line.

How to Sell a House With Old Roofing Materials

As discussed in the early parts of this blog, you can sell a house with an old or bad roof. The two major ways of selling are getting a cash offer or employing the help of a real estate agent. Let's explore both of your options so you can identify your goals and selling timeline.

Get a Cash Offer

How to Sell a House With Old Roofing Materials

Getting a cash offer means contacting a cash buyer or real estate investor and asking them to price your property. In this process, there's no listing involved so you would skip marketing, negotiating, and all other pains of a traditional sale.

Here are some of the reasons why it is best to get an offer from companies that buy houses for cash:

  • No Appraisal: Professional home appraisals used to determine the value of a property can be expensive. Luckily, cash buyers and real estate investors won't ask you to have your home appraised. They have a way to identify the value of your home without needing an appraisal report.
  • Faster Sale: Cash buyers, as the name suggests, can buy your house in cash. They don't need to wait for a mortgage lender's approval before they can proceed with closing.
  • Flexible Sales Timeline: The absence of the lender in the picture also makes the timeline a lot more flexible. You can communicate to the cash buyer when you are ready to move or close.
  • No Roof Repairs: One of the major reasons why it is best to sell a house with a bad roof to a cash buyer is that they won't ask you to make repairs or replace your bad roof. They want you to save money so they'll do all the work as you walk away with cash. Your roof's age doesn't really matter.
  • More Certainty: Many lenders do not approve loans for houses with old roofs because of its risk to their business. Cash buyers and real estate investors, on the other hand, would gladly accept a house with a bad roof so the sale is really less risky.
  • Not Much Paperwork: Unlike traditional sales that have a lot of paperwork because of mortgage, cash buyers would only ask you to submit and sign a few documents when you sell as-is. Many are even done online.
  • No Commission Fees: You don't need a real estate agent when getting a cash offer. The only person you'll transact with is the cash buyer. That means you won't have to pay for commission fees which can cut a good chunk of the sales proceeds.
  • No Closing Costs: Cash buyers also cover closing costs and all other fees related to the sale when purchasing homes. You can expect to get the exact amount of their offer at the closing table.

To get a cash offer, you must check out the website of the cash buyer and fill out a form you can find at the top or bottom of their home page.

You may also give them a call if you're much more comfortable talking to them.

After this, they'll visit your home for a walkthrough. They'll check the state of your bad roof and the whole structure of the house so they can formulate a suitable offer.

Once you agreed on a cash offer and the contract has been signed, the sale would proceed to close and you would get your cash!

Traditional Sale With a Real Estate Agent

Can You Refuse to Replace the Roof if a Buyer Requests It?

When selling with a real estate agent, you can sell the house as-is, make minor repairs, or install a brand-new roof before selling.

Note that selling a home as-is traditionally is very different from selling to a cash buyer. Some buyers in the housing market still make demands even if you are selling the house as-is.

Another thing to be cautious of is that some real estate agents ask to replace the roof before selling even though they know it won't add much value to the property. These agents don't really have your best interest and just want to get the sale done.

If selling with an agent is the path you want to take, you would have to get the house appraised, get a pre-listing inspection, make some home improvements, set an asking price, think of a marketing strategy, list the house, schedule showings and open houses, and negotiate with the buyers. You also have to wait for loan approval.

Final Thoughts: Selling a House With an Old Roof

While there is no law prohibiting the sale of a house with an old or bad roof, it can be very challenging when you list in the real estate market. Most buyers are experts in negotiating so you won't see any profit from the sale.

Making repairs or replacements before selling isn't also suggested since you won't really recoup the amount you'll spend.

If you want a fast and hassle-free real estate transaction, sell your house to House Buyer Network. We'll give you a fair cash offer and won't require you to make any repairs.

Feel free to call us at (855) 835-2544 or fill out our form below to get started selling your house with an old roof.

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catherine mack
Author: Catherine Mack

Catherine Mack is a seasoned real estate investor and enjoys sharing her expertise through writing on relevant real estate topics. Catherine aims to educate home sellers, so they can make the best decision for their real estate problems.

She’s been featured on a plethora of publications including Better Homes & Gardens, Acorns, Realtor.com, Apartment Therapy, MSN, Yahoo Finance, HomeLight, and Business.com.

House Buyer Network™ since 2004. We buy houses nationwide. As house buyers, we offer cash for houses to homeowners looking to sell their house fast. Our cash offers are free and come with no obligations. See what we can offer and get cash for your house!

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