Nearly every transaction I have been working on lately whether on the buying or selling side, the roof has been an issue.
If you are buying a home in Colorado Springs, make sure your inspector goes onto the roof and inspects it thoroughly. Believe it or not, there are inspectors who do not go on the roof to inspect it! If the roof needs replacement and the seller is not willing to pay for a new roof, and you still plan to buy the home, make a phone call to your homeowner's insurance.
Many property insurance companies will not insure a home with a bad roof and if they do insure the home, the roof may not be covered. If you decide to file a claim with your homeowner's insurance for a new roof after buying the home, the insurance company may not cover it since it was a pre-existing problem prior to your purchasing the home.
Many insurance companies who are willing to insure the home require the roof be replaced within a specified amount of time in order for the buyer to have continued coverage. Why are they so strict? The insurance company doesn't want to run the risk of paying for any damage inside the home that is caused from a bad roof such as water damage.
Contact your homeowner's insurance company before purchasing a home with a bad roof; it may affect your ability to obtain coverage.
Patricia Beck – Selling Colorado Springs Homes
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