New buyers and roofs

[kp11364]

Hi all,

This is a multi-part question - I apologize in advance.

1) For those of you that were new buyers of a resale (not new) home, was the age of the roof a negotiation point in the purchase price? For example, if the roof was more than 10 years old, was the fact that you would have a problem with obtaining an insurance policy help the price?

2. Did your realtor help you out with sourcing an insurance policy during the process? Was there a discussion with the insurance about adjustments if an old roof was replaced in the first year?

3. For those of you that got a new roof - say within the last 2-3 years - could you please give me a ballpark size of your roof and a ballpark price for the replacement (PM me if you don't feel comfortable sharing $$ amounts)

4. For new buyers - did you get an "as-is" contract or a "non as-is" contract when you purchased your home in TV?

Many thanks in advance,

Kevin

[retiredguy123]

1. Of course, the age of the roof should be a negotiating point for the price of a house. Also, the age of the HVAC system.

2. The buyer doesn't have a real estate agent. The agent works for the seller. But, as a buyer, I would consult with The Villages Insurance company or another company regarding the insurability of the house, not a real estate agent.

3. For a small villa house, a new roof should cost about $6,000-$8,000, which would be about 1200 SF. If the house is larger and/or has additional valleys, etc, it will cost more.

4. Most resale houses are sold as "non as-is". That is the safest way to buy a house, unless it is a fixer upper for a bargain price.

[Madelaine Amee]

I had a new roof in November. My grandson is in the business in a northern state and he researched the best company with the best product for us. We have an extended Amarillo and the cost was $11,000 with architectural shingles.

Since leaving the above post I have been asked for the name of the roofer Roofing Contractors | All Types of Roofs | Ocala, The Villages, Belleview (https://bowlesroofingco.com/). Highly recommend this family owned company, but get several estimates and check the quality of the shingles and how much work they intend to do on your roof.

[kp11364]

I had a new roof in November. My grandson is in the business in a northern state and he researched the best company with the best product for us. We have an extended Amarillo and the cost was $11,000 with architectural shingles.

Thanks Madeline! - Do you know offhand the approximate size of your roof? I'm trying to get a couple of datapoints to get a rule of thumb.

[kathyspear]

We put a new roof on our current home in July 2019, shortly after we purchased it. (We had to replace it in order to get insurance, as the 20 year old roof was original to the home.) Home is about 2600 sq. ft., cost was $17,300.

In Feb. 202 we sold our previous home which was 16 years old at the time. Buyers couldn't get insurance unless the existing/original roof was replaced so we split the cost with them. Home was about 2900 sq ft, cost was $18,700.

We used McHale's Roofing which is not the cheapest around but we were very happy with our interactions with them and would definitely recommend them. Everything seems to have gone up in cost in the last year or two so the cost of a similarly sized roof might be more now.

Good luck.

kathy

[SharonW]

I had a new roof in November. My grandson is in the business in a northern state and he researched the best company with the best product for us. We have an extended Amarillo and the cost was $11,000 with architectural shingles.

Since leaving the above post I have been asked for the name of the roofer Roofing Contractors | All Types of Roofs | Ocala, The Villages, Belleview (https://bowlesroofingco.com/). Highly recommend this family owned company, but get several estimates and check the quality of the shingles and how much work they intend to do on your roof.


Scott Skipper. Stands by his work, fair with price, does great work

[Laker14]

1. Of course, the age of the roof should be a negotiating point for the price of a house. Also, the age of the HVAC system.

2. The buyer doesn't have a real estate agent. The agent works for the seller. But, as a buyer, I would consult with The Villages Insurance company or another company regarding the insurability of the house, not a real estate agent.

3. For a small villa house, a new roof should cost about $6,000-$8,000, which would be about 1200 SF. If the house is larger and/or has additional valleys, etc, it will cost more.

4. Most resale houses are sold as "non as-is". That is the safest way to buy a house, unless it is a fixer upper for a bargain price.

We bought a resale exactly one year ago. We had an agent whose responsibility was to us. He also lived in TV, as many of the agents do, and although we thought we knew a lot about life in TV, he knew stuff about homes I would never have thought of.
Yes, the aging yet still functional roof was a negotiating point.

Our agent did negotiate on our behalf, and I felt he got us a very fair price. We were somewhat fortunate in that our deal went through just before the market got crazy. We closed last February.
Our home was built in 2006, with the original roof. We are having it replaced this month.
Our three estimates were in the 16K- 18K range. We went with the middle guy, 17K.
I don't remember the exact size of the roof, but it is a Gardenia model, with an extended lanai and "stretch" garage, so it has a few more sq.feet than a standard Gardenia or Camellia.

We did not opt to try to get a "storm damage" freebie, although we probably could have. WE are happy with our homeowner's insurance company and didn't want to lose them. They insured our aging roof, and weren't threatening to cancel our policy, but I wanted to get ahead of that issue.

[Bonanza]

1. Of course, the age of the roof should be a negotiating point for the price of a house. Also, the age of the HVAC system.

2. The buyer doesn't have a real estate agent. The agent works for the seller. But, as a buyer, I would consult with The Villages Insurance company or another company regarding the insurability of the house, not a real estate agent.

3. For a small villa house, a new roof should cost about $6,000-$8,000, which would be about 1200 SF. If the house is larger and/or has additional valleys, etc, it will cost more.

4. Most resale houses are sold as "non as-is". That is the safest way to buy a house, unless it is a fixer upper for a bargain price.

A buyer most certainly can have an agent who works for them and typically, if that is the case,, the buyer may pay them if that is the arrangement the Realtor makes with the them.

In addition, the agent may not necessarily work for the seller unless that is mentioned upfront by the agent. Most agents/Realtors are Transaction Brokers meaning they must treat both the buyer and seller honestly in all dealings.

If you aren't sure who an agent/Realtor is working for . . . ASK!
They have to tell you and you can get them to put it in writing.

[retiredguy123]

A buyer most certainly can have an agent who works for them and typically, if that is the case,, the buyer may pay them if that is the arrangement the Realtor makes with the them.

In addition, the agent may not necessarily work for the seller unless that is mentioned upfront by the agent. Most agents/Realtors are Transaction Brokers meaning they must treat both the buyer and seller honestly in all dealings.

If you aren't sure who an agent/Realtor is working for . . . ASK!
They have to tell you and you can get them to put it in writing.
I have never heard of a real estate agent being paid by a buyer in The Villages. Do you know a broker who has a standard written contract agreement where the buyer pays money to the broker? Every listing contract and settlement closing statement I have seen shows that the seller pays the entire commission to the broker. You are correct that licensed real estate agents must treat both the buyer and seller honestly, because they have a fiduciary relationship with them by Florida law. But, that is different from representing them as an agent in the selling process. For example, suppose a potential buyer tells an agent that they want to make an offer of $300K on a house, but they are willing to pay up to $350K if the offer is rejected. The agent would not be doing their job if they didn't convey that information to the seller, who they represent. Any real estate agent showing houses should make it clear to the buyer upfront that they represent the seller. I don't think that is always done adequately by all agents.

[RICH1]

I tore the old roof off , replaced some decking , installed rubberized roofing paper, installed new architecture shingles … my labor 44 hours and total cost was 2300.00 year was 2005 …..26square

[Bonanza]

I have never heard of a real estate agent being paid by a buyer in The Villages. Do you know a broker who has a standard written contract agreement where the buyer pays money to the broker? Every listing contract and settlement closing statement I have seen shows that the seller pays the entire commission to the broker. You are correct that licensed real estate agents must treat both the buyer and seller honestly, because they have a fiduciary relationship with them by Florida law. But, that is different from representing them as an agent in the selling process. For example, suppose a potential buyer tells an agent that they want to make an offer of $300K on a house, but they are willing to pay up to $350K if the offer is rejected. The agent would not be doing their job if they didn't convey that information to the seller, who they represent. Any real estate agent showing houses should make it clear to the buyer upfront that they represent the seller. I don't think that is always done adequately by all agents.

You are correct in that you won't find a buyer who will pay a Villages agent. Truthfully, I don't know which type of agent Villagers' agents are. Logic tells me that they are supposed to be transaction brokers, but ??? Generally, the buyer's agent's commission will come from the seller's funds as part of the commission split between the listing and selling offices. But there have been cases where the buyer will pay the agent for representing her/him. Personally, I have never known a buyer's agent and have not heard about one in many years.

You are right if you are a seller's agent you must make sure buyers are aware that that you represent the seller and anything they tell you can be passed on to the seller. That would not be the case with transaction brokers. I also agree with you regarding what an agent should mention regarding representation at the first point of contact, i.e. who they do or don't represent.

[DAVES]

You are correct in that you won't find a buyer who will pay a Villages agent. Truthfully, I don't know which type of agent Villagers' agents are. Logic tells me that they are supposed to be transaction brokers, but ??? Generally, the buyer's agent's commission will come from the seller's funds as part of the commission split between the listing and selling offices. But there have been cases where the buyer will pay the agent for representing her/him. Personally, I have never known a buyer's agent and have not heard about one in many years.

You are right if you are a seller's agent you must make sure buyers are aware that that you represent the seller and anything they tell you can be passed on to the seller. That would not be the case with transaction brokers. I also agree with you regarding what an agent should mention regarding representation at the first point of contact, i.e. who they do or don't represent.

Personal experience in New York. It was many years ago and people were having a hard time selling. I entered a written offer on a house. I later found the home was sold for less than my offer. I contacted the real estate brokers association-whatever it is called.
They wanted me to come out and testify. The obvious question what will happen. I was told the broker, if found guilty would be fined. Who does the money go to-THE REAL ESTATE BROKERS ASSOCIATION. They were asking me to take time off from work to clean up THEIR MESS and not be paid for it.

Riding around in the brokers car. People forget the broker works for the seller. Conversation-We will offer $$$$$$$$$ but if we need to we will pay $$$$$$$$$$.
The broker presents the seller with a written offer and says I think they will go up from this offer. BEWARE.

[DAVES]

Hi all,

This is a multi-part question - I apologize in advance.

1) For those of you that were new buyers of a resale (not new) home, was the age of the roof a negotiation point in the purchase price? For example, if the roof was more than 10 years old, was the fact that you would have a problem with obtaining an insurance policy help the price?

2. Did your realtor help you out with sourcing an insurance policy during the process? Was there a discussion with the insurance about adjustments if an old roof was replaced in the first year?

3. For those of you that got a new roof - say within the last 2-3 years - could you please give me a ballpark size of your roof and a ballpark price for the replacement (PM me if you don't feel comfortable sharing $$ amounts)

4. For new buyers - did you get an "as-is" contract or a "non as-is" contract when you purchased your home in TV?

Many thanks in advance,

Kevin

Everything is subject to negotiation. While you are negotiating the seller may well decide to sell to someone else.

Our previous home, not in Florida, was fairly priced, we sold it for full asking price and a cash deal. The sale, THE CONTRACT SAID AS IS. There was nothing wrong with the house but I was not willing to be on the hook for years and out of state. I seem to recall in NY you if, you sold it as is need to surrender $500 to the buyer. That is what most everyone does.

[retiredguy123]

Everything is subject to negotiation. While you are negotiating the seller may well decide to sell to someone else.

Our previous home, not in Florida, was fairly priced, we sold it for full asking price and a cash deal. The sale, THE CONTRACT SAID AS IS. There was nothing wrong with the house but I was not willing to be on the hook for years and out of state. I seem to recall in NY you if, you sold it as is need to surrender $500 to the buyer. That is what most everyone does.
I don't think that selling a house "as is" is the normal procedure in Florida, or other places I have lived. Most buyers would not agree to an "as is" sale, except maybe in a very hot market.

[Laker14]

I don't think that selling a house "as is" is the normal procedure in Florida, or other places I have lived. Most buyers would not agree to an "as is" sale, except maybe in a very hot market.

It is not normal but it does happen. Typically the offer is contingent upon an inspection, paid for by the buyer. When we bought our home in TV, this was the case, and any "non-cosmetic" issues up to a certain % of the agreed upon sales price ( I can't remember what the % was. Seems it was 1 or 2 %) the seller was obligated to fix. Anything more than that became a negotiating point. Parties could walk away from the contract, or negotiate a solution.
Cosmetic issues were not included. "Cosmetic" items included chipping paint, broken bathroom tiles that still sealed etc. The pavers were cracking in the driveway and I was told that was "cosmetic"...as I look back on it now I wonder if I couldn't have raised a stink about the loose border pavers, as an argument could be made that those constitute a tripping safety hazard. I probably would not have made much of a stink as we were happy overall with the price we'd agreed upon.
Seller did have a couple of thousand dollars of repairs she had to do, based upon our inspection.
In very hot markets I have heard of buyers "waiving" inspection in order to get the house. That is probably the same as an "as is" purchase, I'm thinking.

[MX rider]

We just bought a 12 year old house this week in TV. Roof was in very good shape. Architectural shingles. No way I was paying for a new roof. Here in Indiana there's no way a roof that nice would be replaced yet. Through our real estate agent I found a good insurance agency that insures roofs older than 10 years. They go more by condtion. Good price as well.

It was an mls listing so we had our own agent working for us. She was awesome. Even pointed out a few things we should ask to be fixed that I missed. Helped us in more ways than one. We had a Villages agent as well. She was very good, but I did wonder who she was actually working for.

[frose]

the real estate agents work for themselves and could care less about anything but their commission.. I have never seen agents not care about the condition, issues or price but see the lifestyle.. i already have a lifestyle and do not need their speech.. If you pay more than 275 to 300 dollars a square for re roofing you are being taken advantage of just like everything else in here.. they love the retired, rich old people,,

[JMintzer]

the real estate agents work for themselves and could care less about anything but their commission.. I have never seen agents not care about the condition, issues or price but see the lifestyle.. i already have a lifestyle and do not need their speech.. If you pay more than 275 to 300 dollars a square for re roofing you are being taken advantage of just like everything else in here.. they love the retired, rich old people,,

The post directly preceding yours contradicts what you just wrote...

[Bay Kid]

the real estate agents work for themselves and could care less about anything but their commission.. I have never seen agents not care about the condition, issues or price but see the lifestyle.. i already have a lifestyle and do not need their speech.. If you pay more than 275 to 300 dollars a square for re roofing you are being taken advantage of just like everything else in here.. they love the retired, rich old people,,

Your generalization of a group is so...? Not nice....

[frose]

not nice, but true.. the contractors are just waiting for someone from the villages.. they feel they can tell them anything.. the village real estate agents are only out for their commission. go to a few open houses it won't take long to figure it out.

[JMintzer]

not nice, but true.. the contractors are just waiting for someone from the villages.. they feel they can tell them anything.. the village real estate agents are only out for their commission. go to a few open houses it won't take long to figure it out.

So, in your very few months in TV, exactly how many contractors have you dealt with to make such a sweeping generalization?

[Laker14]

the real estate agents work for themselves and could care less about anything but their commission.. I have never seen agents not care about the condition, issues or price but see the lifestyle.. i already have a lifestyle and do not need their speech.. If you pay more than 275 to 300 dollars a square for re roofing you are being taken advantage of just like everything else in here.. they love the retired, rich old people,,

not nice, but true.. the contractors are just waiting for someone from the villages.. they feel they can tell them anything.. the village real estate agents are only out for their commission. go to a few open houses it won't take long to figure it out.

You really should change your screen name to "Mr. Happypants"...all of your posts are so positive and cheerful, you just pick up everyone's spirits by participating. When you finally do sell your place in TV and move back to Naples, you will certainly be missed.

[frose]

about 25 fortunately I can still do most of own repairs.

[frose]

i never lived in naples, just wintered there. nice place, great people but I needed full time residence.. heard this place was great, don't believe everything you hear.

[JMintzer]

about 25 fortunately I can still do most of own repairs.

You've dealt with 25 contractors (even though you do most of your own repairs), in 6-7 short months, on a new house, that you've been talking about selling for the last 5 months?

[Laker14]

i never lived in naples, just wintered there. nice place, great people but I needed full time residence.. heard this place was great, don't believe everything you hear.

Someone once told me that all of life's lessons come with a price. While it's too bad TV hasn't satisfied all of your expectations, you should probably concentrate on what your next step will be, and when it will be, and spend less of your precious time and energy trying to convince others why they should be as miserable as you have chosen to be.

[dtennent]

Due to warranty issues with Tamco underlayment, we had to replace our roof 2 years ago. Our house is 2300 sq. ft. and the estimates came in from 14K to 19K for architectural shingles . We went with Sacks who were in the middle of the price range and they did an excellent job. You might call the warranty office and ask who the roofing subcontractors for the houses built in The Villages. Avoid the companies who come up to your house and offer to replace your roof. Good luck.

[frose]

that is correct.. these houses need so much repaired and since i travel a lot , time is very special to me.

[JMintzer]

that is correct.. these houses need so much repaired and since i travel a lot , time is very special to me.

So tell us, what needed repair on your home? A list will suffice...

Ours is over 6 years old. We haven't found a single problem...

[frose]

slab cracked, ceiling in sun room cracked, a/c failed, hot water heater elements, outside spigots leak, toilet flush valves leak, kitchen faucet leaking, insulation not adequate above ceilings, sheetrock cracks in various locations, solar fan in attic doesn't work, drier vent flap missing, should I go on... this is not a new house it was built 2013.

[JMintzer]

slab cracked, ceiling in sun room cracked, a/c failed, hot water heater elements, outside spigots leak, toilet flush valves leak, kitchen faucet leaking, insulation not adequate above ceilings, sheetrock cracks in various locations, solar fan in attic doesn't work, drier vent flap missing, should I go on... this is not a new house it was built 2013.

Wait, you bought a resale? Can't you sell that at ANY time and recoup your profits?

Isn't it just NEW houses that you must wait a year to sell??? So your claim that you must "wait a year to sell" is false?

Didn't your home inspection show any of these deficiencies? You DID have the home inspected, right?

If it passed inspection, you're saying all of these problems suddenly occurred in the few months AFTER you bought the house?

https://c.tenor.com/FfeH5Xw94cAAAAAC/things-that-never-happened-jeopardy.gif

[frose]

home inspection showed nothing, what a suprise.. another unqualified contractor. the capital gains will kill me. I am not supporting THIS government. When I called the "home inspector" about the issues I found his answer was that they weren't there when he looked at it. not that i believe for a minute that he really looked at the house. Nothing I have ever said on here is false.. I only speak the truth and believe me this place is a not as nice as people may think..

[Laker14]

home inspection showed nothing, what a suprise.. another unqualified contractor. the capital gains will kill me. I am not supporting THIS government. When I called the "home inspector" about the issues I found his answer was that they weren't there when he looked at it. not that i believe for a minute that he really looked at the house. Nothing I have ever said on here is false.. I only speak the truth and believe me this place is a not as nice as people may think..

With all of your skills, why didn't you inspect the home yourself?
Capital gains will only be an issue if you make a profit above your buying price, your real estate commissions, and the expenses you incurred repairing all of those issues.
Short term, less than a year, capital gains is taxed as ordinary income. Long term more likely at 15% unless your income is quite high. As unhappy as you are here, perhaps it would be in your better interests to sell, pay a few percentage points more in capital gains taxes (which again you'll only be worried about if you made a tidy profit, in which case you shouldn't complain), and move on to greener pastures.

[JMintzer]

With all of your skills, why didn't you inspect the home yourself?
Capital gains will only be an issue if you make a profit above your buying price, your real estate commissions, and the expenses you incurred repairing all of those issues.
Short term, less than a year, capital gains is taxed as ordinary income. Long term more likely at 15% unless your income is quite high. As unhappy as you are here, perhaps it would be in your better interests to sell, pay a few percentage points more in capital gains taxes (which again you'll only be worried about if you made a tidy profit, in which case you shouldn't complain), and move on to greener pastures.

IIRC, you have to own a home for TWO years you escape the Short Term Gains penalty, not the ONE year claimed by our friend above...

[JMintzer]

home inspection showed nothing, what a suprise.. another unqualified contractor. the capital gains will kill me. I am not supporting THIS government. When I called the "home inspector" about the issues I found his answer was that they weren't there when he looked at it. not that i believe for a minute that he really looked at the house. Nothing I have ever said on here is false.. I only speak the truth and believe me this place is a not as nice as people may think..

You were given no pictures of the inspection? They would certainly show some of those "defects" (although a simple toilet flush valve is something that can fail in 8 years...)

[Laker14]

IIRC, you have to own a home for TWO years you escape the Short Term Gains penalty, not the ONE year claimed by our friend above...

you might be right about that. I did some Googling on it..what I found is that the 2 year rule applies if you are seeking to avoid capital gain entirely, claiming it was a primary residence.

I could not find a definitive answer on whether you needed to keep it 2 years to qualify the gain as a long term capital gain.

[Laker14]

home inspection showed nothing, what a suprise.. another unqualified contractor. the capital gains will kill me. I am not supporting THIS government. When I called the "home inspector" about the issues I found his answer was that they weren't there when he looked at it. not that i believe for a minute that he really looked at the house. Nothing I have ever said on here is false.. I only speak the truth and believe me this place is a not as nice as people may think..

You were given no pictures of the inspection? They would certainly show some of those "defects" (although a simple toilet flush valve is something that can fail in 8 years...)

When I had the home I was buying inspected, I was there during the inspection, with my realtor. The guy did a good job. While he crawled around checking things I wouldn't have thought of, the realtor and I looked at stuff like cracked ceilings etc. the stuff you don't have to be an expert to find. Most of that stuff you'd see when you looked at the house before you decided to buy it. If it's still functional, and the cracks etc. are "cosmetic" issues, the inspection is too late to dicker over that. You need to find that stuff before you make your offer.

If you purchase a home, and then find the ceilings and floors have cracks, well...you could have seen that stuff before you made your offer.