The cost of a new roof can be pretty high. The cost of replacing a roof in the United States can range from $5,500 to $11,000, depending on where you live and the sort of roof you’re having done. Because of this, negotiating the price of the roof of your new house can potentially save you a lot of money.
This article will run you through everything you need to know about negotiating a roof replacement.
The Importance of Negotiating a Roof Replacement
Every home needs new roofing after the old roof has reached the end of its useful life. The responsibility of paying for the roof replacement of the property you just bought does not have to rest entirely on you as a new owner.
The former owners, who enjoyed and maintained the roof before you, can cover part or all of those expenditures as well.
Ensuring a Roof Inspection
If you arrange the roof assessment, you may be able to persuade the seller to fund it and fix it before closing. If you want to undertake the job yourself, you might negotiate a reduced price depending on the cost of replacing the roof.
Before making a choice, consult with your insurance carrier to determine when this should be accomplished for coverage to begin.
Issues from a Failed Roof Inspection
Regardless of who initiated it, if your property fails a roof inspection, it may present problems when applying for a mortgage. All lenders require house purchasers to get homeowner’s insurance that is effective at closing, and proof of that policy is necessary.
If your property fails the roof inspection mandated by the insurance company or creditor, you may have difficulty obtaining insurance to protect the home. This will put your lender on hold.
However, that doesn’t rule out the possibility of a house sale. Once it is clear who will be liable for the roof replacement expenses and what that replacement will include, the repairs can be completed before closing, with the contractor being paid.
You will not be allowed to begin your homeowner’s insurance until the roofing has been restored, so it’s a wise option to double-check.
Getting a Discount on Your Home
When negotiating, one solution is to obtain a credit or have the house price reduced to compensate for the expense of a new roof. Most sellers choose this option since they may not have the funds on hand to pay for the roof replacement directly.
Even so, dealing with contractors is inconvenient and might divert time away from the seller’s own search for a new home. Many sellers would like just to discount the house and then delegate the chore of replacing the roof to the buyer.
Having the Seller Pay for Your New Roof
Most buyers prefer that the seller just arrange the roof replacement before closing. Buyers would pick this choice since the seller would have to contact a local roofing contractor. However, it may be harder to persuade the seller to pay for the new roof rather than discounting the home.
The cost of a new roof replacement can be very high, but it is usually well worth the expense. However, the responsibility of paying for the roof replacement of the property you just bought does not have to rest entirely on you as a new owner.
With proper planning and negotiation, a buyer can acquire a new roof for little or no money out of pocket.
Are you looking for the best roofing company in Southern Mississippi? 3B Construction & Roofing offers quality residential and commercial construction and roofing-related services. Request your professional inspection today!