If you are new to home buying, understand it’s a complicated process. That’s why people often turn to real estate and legal professionals to assist with transactions. Suppose you find a home you want to buy but discover in the inspection process it has a leaky roof. Does that make it a deal burner? Here’s how you can still get the home by negotiating with the seller to either fix the roof or lower the price.
Negotiating a New Roof
As a homebuyer, you must be firm about your expectations, such as insisting the seller replace the roof. Many homebuyers don’t want to deal with the expensive hassle of roof replacement, whereas sellers are typically more willing to lower the price. Even if you love the property, you cannot allow your emotions to override rational thinking when it comes to home buying. Consider whether your insurance agency will cover roof damage in any situation if it’s near the end of its lifespan.
If the negotiation process hits a speed bump, think about your third option, which is for the seller to pay for your new roof after you move in. No matter what you decide, it’s a good idea to ensure you have a safe roof over your head. You certainly don’t want to forget about the leak since it can turn into an even more expensive problem over time.
Successful negotiation depends on each party listening to the other’s needs.
Get a Quote from a Reputable Roofer
Once you find out your dream house has a leaky roof, you might look into roofing costs yourself to support your position. If you can find a good deal on a new roof, it may help persuade the seller to either pay for the replacement or lower the cost. Make sure you only deal with roofers that are licensed in your state and have a positive track record in your community. Don’t settle for an inexperienced handyman offering to undercut the market because it can lead to disastrous results.
You’ll need to consider if it makes sense to use the exact same roofing materials as on the existing home. If you desire more durable premium shingles or want to put solar panels on your roof, offer to help pay for some of the costs. Remember that once all the real estate documents are signed, and you are the official homeowner, you cannot turn the clock back and ask the seller to still pay for a new roof. Take care of finalizing negotiations either prior to or during escrow.
Consult Brighton Escrow to Get the Best Out of Your Home Investment
One of the keys to happy home buying is for the transaction to be a win-win for the buyer and seller. In order for that to happen, you must point out flaws in the home that the seller should either repair or agree to lower the home’s selling price. Contact us at Brighton Escrow, Inc. for more information on getting the most out of your home investment.