Quote:
Originally Posted by Misky1951
I've been helping my friends from Boston who are looking to buy a preowned home.
Some of the homes have roofs over 15 yrs old. I asked the agents about insurance. They tell us TV insurance companies will not insure a home with a roof over 15 yrs old. But they tell us not to worry as other companies do.
My friends are concerned about paying top dollar for a home and then worrying about getting insurance or being required to get a roof replacement in a few years
I guess the obvious answer is to find a preowned home with a newer roof.
Does anyone see buying a preowned home with an older roof as an issue?
Also, I would think an honest agent would tell a buyer about this. None of the agents mentioned this until I questioned it.
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A Good Realtor will have discussed the Roof issue with his Seller and priced the House accordingly. As a Realtor here the Age of the Roof is one of the 1st things we look at when searching for the right properties to show our Buyers. The 15 yr mark is something the Insurance companies use as a cut off in deciding to insure or not. There are a few that still will insure, some that will insure the house and a reduced amount for the roof, some that will give you 90 days to replace. The key is have your own Realtor that is looking out for only your interest that you can rely on.