Has your home been impacted by hail this storm season?
Most homeowners don’t find out about hail damage until they put their house on the market, and the prospective buyer gets a home and/or roof inspection. Upon your initial review, it may seem as though your roof is functioning normally if you didn’t notice any glaring issues like broken windows or roof leaks, but that doesn’t necessarily mean that your roof is in the clear.
If there was a hailstorm in your neck of the woods, the inspector is likely to make note of it in their report. When it’s on the report, you must address it.
While your typical home inspector may know the basics of roof damage, it is wise to receive a roof inspection from your local roofing specialist at Roof Time General Contractors. Roof inspectors can provide a detailed report of damages and how it affects the longevity of the roof altogether. Both inspectors are required to report their findings to the homebuyer.
As soon as an inspector notes proof of hail damage, you must determine your course of action to address it.
Ignore it. Many buyers will back out of the sale if you do not make any plans to address it head-on, and you will have to disclose the damage to buyers in the future. Additionally, the majority of insurance companies won’t insure the property for another buyer due to known damage.
Eat the cost by getting the roof fixed by yourself. Depending on the severity of the damage, you may have to get replaced entirely or fix a small repair.
Extend the option period and have your insurance company inspect your roof. If you choose to go this route, we recommend getting a second opinion from a trusted roofing contractor to be thorough. After the estimate is finished, you can set up a time for your project to be fixed. Also, you will probably have to change the closing date because usually, lenders will only allow you to close on the home when the work is finished.
You can go through with the inspections, but instead of having the roof done out of pocket and paying for it with your claim, you can designate the insurance proceeds to the buyer at closing. As the seller, you will still be responsible for the deductible, but this puts the responsibility of the work on the new owner. Insurance companies and lenders will not usually allow this.
Any way you go, you will have to inform the buyers, and you, the seller, and the buyer will have to come up with an agreement on how to move forward. Be sure to get everything in writing and have your agent draw up an amendment to the original contract to reflect the agreement made.
If your area was hit by hail this year and you are considering selling your home, the sooner you address it, the better off you will be. Contact the professionals at Roof Time General Contractors or visit us online to schedule your free roof inspection before you put your home on the market.
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