TIP OF THE WEEK…DEFECTIVE SHINGLES CAUSE HOME INSPECTION WORRY!
Tip of the week…defective shingles cause home inspection worry!
Here’s my tip of the week.
I’m going through a little dilemma right now. I am representing some sellers. Their home is only 12 1/2 years old. The good news is that these sellers are the original owners. And they have taken impeccable care of the home! So you wouldn’t think there would be too many problems to address.
Mr. and Mrs. Seller knew they were going to retire, downsize and move to Florida. So during the last two years, they were getting their home ready to put on the market. Slowly but surely pecking away at things to be sure they could anticipate any likely obstacles. Therefore, I proceeded to help them make good choices in updating their 12 year old home w/new flooring, fresh paint, new lights, new kitchen faucet, new front door hardware, etc. so it would be marketable when they were ready.
Sure enough, we put it on the market and we got an offer! Yay! They were so thrilled and we thought we had everything anticipated in the home. Well…think again!
Believe it or not, we had a roof issue! One big expense we never would have dreamed we would have!
Three roofers later, they confirmed what the inspector said. It needs a new roof! It was not currently leaking, but defective shingles were the problem! Who knew?! Defective shingles?!
And just so you are aware, these shingles were IKO. I personally have never heard of them. But they are defective shingles. If you have any sellers that have a 12-13 year old home and have IKO shingles, it’s quite possible that you could have a similar dilemma. Just wanted you to be “in the know!”
The sellers are submitting a claim. But in reading over the warranty, there’s a formula and when you start subtracting the 12 1/2 years into the life of the roof, etc. etc., the warranty has it down to just a small amount of pay out that they will give back towards it. So, we’ll see where that actually gets the seller. In time, I’ll know more. They might be able to recoup a little bit. But for these negotiations with this buyer now, the sellers couldn’t wait for any decisions on a claim.
Well, to make a long story short. Buyer and seller came to a mutual agreement. They negotiated out the cost of the roof. And a new roof will be installed.
It was very stressful for BOTH the buyer and seller. No one had any clue this issue (which was an expensive issue) would have come up. We’re closing in a week, though. So, all’s well that ends well. Right?!
Your State College, PA Real Estate Connection!
~Nyssa
