When an Aging Roof Creates a Stalemate Between Buyers and Sellers
Scott P. Rogers
Here's a situation that comes up fairly often in real estate transactions, and it can create a real sticking point between buyers and sellers... even when nobody is necessarily being unreasonable.
It often (but not always) involves a roof, so we'll use that as the example.
Specifically, a roof that is 25 to 30 years old. The shingles are intact. There's no visible damage. The roof isn't leaking.
The seller looks at that roof and thinks, "It's doing its job. I'm not replacing something that isn't broken." That's a completely understandable position.
The buyer looks at that same roof and thinks, "I'm about to spend a significant amount of money on this house, and in a few years I may have to spend another $15,000 or $20,000 to replace this roof." That's also a completely understandable position.
So what do you do when both people are being reasonable, but nobody can quite find common ground?
What you can do as a seller to move things forward...
1. The most proactive option is simply to replace the roof before listing the home. Yes, it's an expense... but it removes the issue entirely and can actually strengthen the home's value and marketability. You might not want to go this route, but it's worth at least considering.
2. If replacing the roof isn't on the table, we can price your home to reflect the reality of the age of the roof. A house with a 25-year-old roof shouldn't be priced the same as a comparable house with a roof that's 5 to 10 years old. Buyers will either factor it in themselves or walk away when the issue surfaces -- and it usually does surface.
3. A third option is offering a closing cost credit. This doesn't replace the roof, but it helps the buyer preserve some cash after closing so they're not completely caught off guard when the time comes. It can be a practical middle ground that keeps the deal together.
What you probably shouldn't do as a seller...
1. Pricing the home as though the aging roof isn't a factor. This is likely to backfire. Buyers do their homework, inspectors note things such as a roof's approximate age, and insurance companies sometimes have opinions too. Ignoring the issue rarely makes it go away.
2. Refusing to acknowledge -- either before contract or after inspection -- that the roof is nearing the end of its life. This can create challenges in the real estate transaction and might derail it altogether.
The aging roof situation (or other aging system situation) doesn't have to be a dealbreaker. But it does require both parties to approach it with realistic expectations and some willingness to find a path forward.
It often (but not always) involves a roof, so we'll use that as the example.
Specifically, a roof that is 25 to 30 years old. The shingles are intact. There's no visible damage. The roof isn't leaking.
The seller looks at that roof and thinks, "It's doing its job. I'm not replacing something that isn't broken." That's a completely understandable position.
The buyer looks at that same roof and thinks, "I'm about to spend a significant amount of money on this house, and in a few years I may have to spend another $15,000 or $20,000 to replace this roof." That's also a completely understandable position.
So what do you do when both people are being reasonable, but nobody can quite find common ground?
What you can do as a seller to move things forward...
1. The most proactive option is simply to replace the roof before listing the home. Yes, it's an expense... but it removes the issue entirely and can actually strengthen the home's value and marketability. You might not want to go this route, but it's worth at least considering.
2. If replacing the roof isn't on the table, we can price your home to reflect the reality of the age of the roof. A house with a 25-year-old roof shouldn't be priced the same as a comparable house with a roof that's 5 to 10 years old. Buyers will either factor it in themselves or walk away when the issue surfaces -- and it usually does surface.
3. A third option is offering a closing cost credit. This doesn't replace the roof, but it helps the buyer preserve some cash after closing so they're not completely caught off guard when the time comes. It can be a practical middle ground that keeps the deal together.
What you probably shouldn't do as a seller...
1. Pricing the home as though the aging roof isn't a factor. This is likely to backfire. Buyers do their homework, inspectors note things such as a roof's approximate age, and insurance companies sometimes have opinions too. Ignoring the issue rarely makes it go away.
2. Refusing to acknowledge -- either before contract or after inspection -- that the roof is nearing the end of its life. This can create challenges in the real estate transaction and might derail it altogether.
The aging roof situation (or other aging system situation) doesn't have to be a dealbreaker. But it does require both parties to approach it with realistic expectations and some willingness to find a path forward.
