Recently I helped a client find a great house in a neighborhood she really liked. It had just come on the market and, sure enough, the listing agent was expecting multiple offers. After studying the comparable sales, we offered above asking price (by about 3%) — and won the contract!
The inspection was pretty good with no big surprises — except for the roof. It was a 30-year roof, and only halfway through its lifespan, but the inspector noticed a decent amount of hail damage.
We wanted a second opinion, so we hired a roof specialist to come out and take a look (while still within the inspection contingency period). He confirmed that the hail damage was extensive and scattershot, and that by the time they replaced the shingles that needed it, they might as well install an entire new roof instead.
One thing about Colorado, the frequent, extreme weather here has spawned quite a competitive roofing industry. This company gave us a reasonable estimate for full replacement, said it could be done in a day, and had time for it within two weeks.
Sooo we asked the sellers to replace the roof as an inspection item. And guess what? They did. They ended up filing an insurance claim for the hail damage, and my buyer got a new roof with a warranty in her name. We didn’t even have to extend the closing date.
Moral of the story — steep competition among contractors means it’s easier and cheaper to get a new roof than you might think in Colorado. And if you suspect your roof might be nearing the end of its useful life, you can always pray for hail. ;)))
