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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As you know when purchasing a home, you have an inspection done... ck the roof, appliances, floors, etc. so you know what you have. All homes that are in this age, are going to be replacing everything. Its the way it is. Now this is why you ask questions, what has been updated... etc. As for roof, l5 - 18 yrs your covered, but just know no matter how good the roof still is , the insurance company's want a new roof. Its your main protection. The sale of the homes, with roof, appliances, rugs, etc that are older than 10 yrs should reflect a lower price. Also, Bond... plenty of homes that have already had the BOND PAID OFF for pre owned.... then again alot of people are replacing appliances, roofs, just for selling purposes.... so let the sale's agent know... you want new roof, appliances, no bond.... all part of buying a home...