OfflineMost roofs from a distant look great!!! I almost made a big mistake by driving by a property and thinking that the roof looked good. I had the feeling that I should get a closer look. Upon a much closer inspection of the home, I found that the shingles had curled and the whole roof was ruined and would need a total replacement and this would change my offer amount.
The normal life expectancy of an asphalt-shingled roof is 15 to 25 yrs. How do you know whether an asphalt-shingle roof is worn out? If you know the life expectancy of asphalt shingles in your area and can estimate the age of the shingles, this is a big help.
In the early mid-1960’s, roofing installation practices changed in that four nails per shingle became common rather that six nails per shingle. Self-sealing strips also became common in the mid-1960’s. If you have shingles that have six nails per shingle and no self-sealing strips, you are probably dealing with a pre-1965 roof. This will be a very old asphalt-shingle roof and will likely be worn out.
If you would like the chance to work with me or one of my fellow real estate investor coaches and our advanced training programs, give us a call anytime to see if Dean's Real Estate Success Academy and our customized curriculum is a fit for you. Call us at 1-877-219-1474 ext. 125
I would just add a clause in the contract that the deal is subject to a roof inspection. Then once you get it under contract, get two or three roofing INSPECTION companies to give you estimates on the repair. I stress the word inspection because for roofing you usually don't want to have the same people who will actually do the work give you the estimate for doing the work (conflict of interest).
Hope this helps,
Stephan Roberts
"In absence of clearly defined goals, we become strangely loyal to performing daily acts of trivia!"
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Thanks Steve, that is a great way to protect yourself. Great insight.
Another way to determine whether the shingles are worn out is to look for evidence of loss of granules, cracking, cupping or clawing. With advanced deterioration, shingles may be torn off. As the asphalt gets older, it becomes more brittle.
On new shingles, the width of the slots between the tabs is typically a quarter of an inch, roughly speaking. As the shingles get old, they shrink, and the slots can be up to one inch wide or more toward the end of the shingle life. Look at the width of the slots as clues to the shingle age.
If you would like the chance to work with me or one of my fellow real estate investor coaches and our advanced training programs, give us a call anytime to see if Dean's Real Estate Success Academy and our customized curriculum is a fit for you. Call us at 1-877-219-1474 ext. 125
It's very true that a roof inspection is the way to go. But here in Florida you can't even get homeowners insurance if there is not at least 4 years of roof life left on the roof; the insurance companies check the property appraiser's website to see if there has been a permit pulled to replace the roof. Even if it's only 5 years old, if there's no permit, they consider it to be original. Now if the house was built prior to 1992 you have a problem because your buyer, even if it's cash can't get insurance. Now how many cash buyer's are going to spend all that money on a house that's un-insurable ?
I have an old roof on a rental unit that I would like to Lease w/Option. I was told I am a Candidate for a "roof over", which is putting new singles over old. I'm told this can usually be done once, but more than once would add to much weight to the roof. Supposed to be a lot cheaper, and can buy 15 to 20 years.