This is why we'll always have a job.  The buyer in the FSBO transaction paid for a home inspection. 

The home inspector told him that the roof was not economically repairable because of the age of the house, and that he shouldn't put much money into something so old.

I guess the buyer fixed HIS wagon!  Nice steps, too.

I'm Mike in Tucson, your preferred Tucson, Arizona mortgage lender.
Mike Jones (Tucson Mortgage Company, LLC): Loan Officer in Tucson, Pima County, Arizona
Think of me as your local expert.

 
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18 Comments on The Home Inspector Told the Bank I Needed A New Roof

Mike!  How much would that little "jewel" set me back in AZ??  "Charming Rural Setting?"

04/24/2008 02:36 AM by Eleanor Thorne, Cary Mortgage Loans (Meridian Residential)


I like the tenacity of the Buyer -- and that may be his palace.  

    

04/24/2008 03:05 AM by Susie Blackmon NC Realtor, Maggie Valley, Waynesville (COLDWELL BANKER)


What's the problem?  That roof look perfectly fine to me.  :-).

But wait a minute ...It was a FSBO transaction ... There was a home inspection ... the inspection recommended a new roof .... so, had the property already changed hands when the roof was installed?  If not, maybe you meant to say the ~seller~ fixed the ~buyer's~ wagon?  :-)

If the roof job was the seller's ... and the buyer cancelled the deal because the roof wasn't purdy enough ....  just how much did you say this property was selling for??

04/24/2008 05:56 AM by Cheryl Johnson, Bob Taylor Properties, Inc., Los Angeles, CA


Nice roof, bet it sounds good in the rain!

Your Friend in Charlottesville Virginia!

04/24/2008 06:53 AM by Charles McDonald / Your Trusted Broker for Charlottesville Real Estate (RE/MAX Assured Properties)


Charles,

I grew up under a corrugated aluminum roof in the rainforest of South America.  When it rained, you couldn't talk for the roar of sound on the roof.  Your comment brings back good memories.  Thanks.

Cheryl,

I like your version!  Perhaps the home was free for the taking, and the owner already had the land.  I can get you the listing if you promise the seller that you can either move it for him in 60 days or buy it yourself.  LOL

Susie,

It's someone's palace, and he's tenacious!  There's a car there at night.

Jesse,

I thought you might know the guy.  LOL

Eleanor,

What we need on this is a NOO cashout refi for more than the appraised value of the lot.  Does the roof qualify as an operating cooling mechanism?  It's actually solar cooling, as the hot roof heats the air beneath it, causing that air to rise and be replaced with cooler air.  We could have the owner install a wire mesh screen at one end, and hook up the hose at the top to dribble down the screen.  This would provide additional cooling.  (Really.)

Mike in Tucson

04/24/2008 07:19 AM by Mike Jones (Tucson Mortgage Company, LLC)


As a child I had one of them thar roofs on my homestead in Texas. 

04/24/2008 07:22 AM by Don Rogers CRS, GRI, Broker/Sales Associate (RE/MAX Discover)


I've seen this type of "roof treatment" several times--and it really does provide a cooling effect. Looks better than old tires piled on top (haven't seen that in years - 'skeeters like the tires too much after a rain).  

Maybe I'll suggest this to Dad for the office at the farm.  With solar panels.

 

04/24/2008 09:54 AM by Kent Simpson REALTOR®, CNS®, AHS®, RECS® (with The Pepper Group™ Diversified Real Estate)


The sad thing is that with the price of alunimum these days the roof is probably worth more then the singlewide it is "protecting"!

04/24/2008 05:40 PM by Jeff Fullmer - Credit/Investment Expert (National Foundation for Credit Excellence)


 

The 2nd roof can help the home stay a lot cooler in the summer.

Land Rovers had an option for a "Safari Roof" that was a second roof about 2" above the regular roof to provide a much cooler interior traveling across Africa. 

04/24/2008 08:57 PM by Jon Boyd Ann Arbor Real Estate Buyer's Agent (Home Buyer's Agent of Ann Arbor)


What people won't come up with to fix an issue. In Michigan we just wait for a nice tornado and collect the insurance.

04/24/2008 09:23 PM by Terry Westbrook ~ Realtor(R) Grand Rapids Mi Ada/Cascade Real Estate (Five Star Real Estate, LLC Grand Rapids , MI)


So what did this sell for???? Metal roofs are really cool during a rain storm!

04/25/2008 08:01 AM by Bill & Barbara Jo - Florida Realty Professional - AHWD (Charles Rutenberg Realty)


Barbara Jo,

I don't know; I just took the picture, and made up the story.  And I agree that metal roofs sound neat during a storm.

Terry,

Now THERE'S an idea!

Jon,

Land Rovers are great vehicles.  Wouldn't it have made the post more interesting if one were parked in front of the mobile home?!

Joan,

Nope!  Those are WELD downs!

Jeff,

I never thought of that!  Someone might steal the roof for scrap!

Kent,

I'll have to meet your Dad and see the farm one of these days!

Scott,

The roof would definitely be worth more than the rest of the property at that point!

Don,

Me too.  In South America.

Mike in Tucson

04/25/2008 10:20 AM by Mike Jones (Tucson Mortgage Company, LLC)


Mike - I'm speechless... Well, problem solved, I guess.

05/03/2008 10:41 AM by Debbie Summers (RE/MAX Central - Lake Mary, FL)


Debbie,

Imagine that!  A real estate agent speechless!  LOL

Mike in Tucson

05/03/2008 10:45 AM by Mike Jones (Tucson Mortgage Company, LLC)


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Loan Officer: Mike Jones (Tucson Mortgage Company, LLC)
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