Real estate question

[nkereina]

There is such a thing as over-sharing. Think of testimonies in court - they are advised to answer the question exactly as its asked of them. You have a responsibility to disclose what you have already disclosed, and there isn't a requirement to update that in light of new information. But the buyer also has a responsibility to do their due diligence, and some of the onus is on them to understand exactly what they are spending such a large amount of money on. They are on notice of the age of your roof, and if they are uncomfortable with the assessment of the inspector THEY chose, they could request to have a new one done. Apparently they are comfortable with only getting the needed repairs, so that's exactly what I would do for them.

If it helps you feel better, I don't think getting a second opinion is a bad idea. Its quite possible the first roofer saw the age of your roof and decided to push the new roof opinion on you. And its also possible the roof will need to be replaced in the near future, but still be functional for a while longer with the minor repairs requested.

 

[goofyintoronto]

Your roof is more than 20 years old. Chances are, the whole things needs to be replaced. I'd get a second/third opinion from a somewhat reputable company. Knowing myself, i'd probably disclose the information to the buyer as well. It just seems dishonest not to.

 

[GrnMtnMan]

The roof industry ranks somewhere between cable tv and used car salesman for honesty. I would not trust the first, second, third, or fourth roofer who gave an estimate to be 100% honest in their assessment.

Totally agree with this. we had our roof replaced three years ago....the range of estimates was from $8,000 to $30,000+. Just because one roofer thinks the entire thing needs to be replaced doesn't mean another will think so.

Bottom line, the buyer wants the specified repair done. Find someone who will do the specified repair. Making a significant alteration to the house **after the inspection** could be in violation of your contract.

 

[cinnaminny]

I am shocked they didn't just ask for a new roof. 1994 is a pretty old roof. We did our roof last year on our house that was built in 1997. Did they know it was this old? Whats the point of fixing up something that will HAVE to be replaced sometime in the near future? So I agree with you OP, I don't think their inspector did a good job.

if you decide to replace, find the lowest price you can to fulfill your moral (not legal) obligation. If they buyer wants a nicer roof, have them add the additional cost to the contract price.

Agree! Replace at a cheapest cost, let them pay for extras.

JMO

 

[lifesavacation]

Defer to your real estate professional. If you want a second opinion, you can ask the real estate lawyer. Your realtor should have an attorney that they work with so you may even ask him/her to put something in writing for you if your agent says not to disclose. IMHO, I think this falls under a defect that needs to be disclosed, but I'm not an expert. I did sell a house once and the buyers came back to us after closing asking us to repair something. We said no and they ended up suing their inspector. The buyer was a contract negotiator lawyer at Microsoft, was a total PITA throughout the process, and it didn't surprise me she ended up suing someone.

 

[tcufrog]

You should really ask your Lawyer. You need one to close. Laws vary from state to state.

Where we live a lawyer isn't used for closing. You close at a title company. We've been involved in multiple real estate transactions and have never used a lawyer. As for repairs, I prefer to deduct the amount off of the sales price so that I'm liable for the quality of the repairs.

 

[kaytieeldr]

A fiduciary duty is a legal requirement to behave in a certain way. the old Realtor fiduciary acronym was OLDCAR, can look it up; but the D stands for Disclosure.

Obedience, Loyalty, Disclosure, Confidentiality, Accountability and Reasonable Care/Diligence

 

[Liz]

I spoke to the real estate attorney today and he basically agreed with our realtor. He said the seller disclosure form was what we knew as of the date it was filled out and it is not a fluid form that needs to be updated when we got additional information. He said if something happened to make the home uninhabitable like a portion of the roof collapsed then that should be disclosed (obviously).

Still if I had direct contact with the buyer I would tell them. It seems silly to put a bandage on a failing roof.

Oh, the attorney also said it is just one person’s opinion (the roofer but he is highly recommend in the community and even suggested we get a second opinion). I tried getting other bids but haven’t had much luck and time is of the essence since we are supposed to close the last week of June.

 

[DawnM]

Is there any chance of telling your buyers that you have an estimate to fix the repairs for X dollars and you would prefer to give them a credit of that amount? That way you aren't wasting money on a repair they may back out of, and you can choose to replace the roof if they back out later. Or they can use that money towards a new roof after they move in.

 

[rwdavis2]

I would stick to the letter of the law. Which may mean you don't have to disclose anything further. I would think the agents would be as liable as the OP if the law was not followed.

 

[nkereina]

Still if I had direct contact with the buyer I would tell them. It seems silly to put a bandage on a failing roof.

Its possible the buyers had this discussion with their inspector. Perhaps they informed the inspector they don't have the money for large repairs and/or they don't want to lose your house by requesting too big of a repair. Like you are hesitant to disclose for fear of losing their offer, they may be hesitant to request for fear of you declining. They don't know whether you had other offers on the table so they could feel like they need to tread lightly.

Either way, I still say that the onus is on the buyer for requesting what they need in order to feel comfortable with the purchase. While it may seem silly to put a bandage on it, perhaps they have other plans for the roof or would rather deal with the minor issues at the present. There's a variety of reasons why this could be playing out like this, and an inept inspector or dishonest roofer are only two possibilities. I would still pay for the repairs and assume the buyers have done their due diligence.

 

[mnrose]

Ugh. It seems irresponsible to spend ANY money to repair a roof that old. It needs to be replaced...if not today, very soon. Roofs of that type do not last "forever." And, trying to do "repairs" on a roof that old is going to likely lead to more problems.

Good luck finding a roofer who will attempt it. If I were the buyer, I'd want a new roof. And, I'd be willing to pay a bit extra to get it (e.g., upping my purchase offer).

OP, I respect that you want to do the "right thing."

 

[nkereina]

Ugh. It seems irresponsible to spend ANY money to repair a roof that old. It needs to be replaced...if not today, very soon. Roofs of that type do not last "forever." And, trying to do "repairs" on a roof that old is going to likely lead to more problems.

Good luck finding a roofer who will attempt it. If I were the buyer, I'd want a new roof. And, I'd be willing to pay a bit extra to get it (e.g., upping my purchase offer).

OP, I respect that you want to do the "right thing."

At the end of the day, this is a business transaction. I'm not sure the OP knows enough about the buyers to know what their plans are or what their reasoning is for requesting repairs when the roof is this old. Perhaps the buyers plan to put on an upgraded roof so they don't want it replaced at this point. Perhaps their realtor has told them requesting a new roof might drive the seller away and they'd rather not chance that. While its certainly admirable of the OP to care about the buyer in this way, it's not up to the OP to inquire further about this when they have fulfilled their responsibilities.

I personally would want a new roof as well, but everyone has different circumstances, plans, risk tolerances. As a seller, that's not my business and I'd comply with what's requested. Some of the responsibility has to lay with the buyer for understanding what they are purchasing/requesting.

 

[mnrose]

At the end of the day, this is a business transaction. I'm not sure the OP knows enough about the buyers to know what their plans are or what their reasoning is for requesting repairs when the roof is this old. Perhaps the buyers plan to put on an upgraded roof so they don't want it replaced at this point. Perhaps their realtor has told them requesting a new roof might drive the seller away and they'd rather not chance that. While its certainly admirable of the OP to care about the buyer in this way, it's not up to the OP to inquire further about this when they have fulfilled their responsibilities.

I personally would want a new roof as well, but everyone has different circumstances, plans, risk tolerances. As a seller, that's not my business and I'd comply with what's requested. Some of the responsibility has to lay with the buyer for understanding what they are purchasing/requesting.

I'm not disagreeing with the conclusion that OP is under no obligation to disclose anything. They've done that if they've disclosed the age of the roof. I'm concerned that by trying to 'repair' the problems which WERE found, they are going to do more harm than good. It's very hard to 'repair' a roof of this age without creating more problems. Or even to find a reputable roofer to do it. I feel for OP in this circumstance. It sounds like the buyer doesn't want a credit, but the work done. Yet, getting the work done isn't as simple as waving a magic wand.

 

[rwdavis2]

I'm not disagreeing with the conclusion that OP is under no obligation to disclose anything. They've done that if they've disclosed the age of the roof. I'm concerned that by trying to 'repair' the problems which WERE found, they are going to do more harm than good. It's very hard to 'repair' a roof of this age without creating more problems. Or even to find a reputable roofer to do it. I feel for OP in this circumstance. It sounds like the buyer doesn't want a credit, but the work done. Yet, getting the work done isn't as simple as waving a magic wand.

I think this is a reasonable opinion of the situation. How about offering the buyer a credit for the cost of just the repair?

Here's an idea. We got our roof replaced by insurance with only the cost of the $1000 deductible. The reason being were recent wind storms that had blown off shingles. There were no leaks and the roof was 2 years past the shingle life. The total cost of replacement was $15,000.

 

[nkereina]

I'm not disagreeing with the conclusion that OP is under no obligation to disclose anything. They've done that if they've disclosed the age of the roof. I'm concerned that by trying to 'repair' the problems which WERE found, they are going to do more harm than good. It's very hard to 'repair' a roof of this age without creating more problems. Or even to find a reputable roofer to do it. I feel for OP in this circumstance. It sounds like the buyer doesn't want a credit, but the work done. Yet, getting the work done isn't as simple as waving a magic wand.

Gotcha - apologies if I misunderstood. This does make sense.

I think this is a reasonable opinion of the situation. How about offering the buyer a credit for the cost of just the repair?

The OP mentioned up-thread that the buyers have said they want the repairs as opposed to a credit.

 

[tex1989]

There is the law and the rules and there is what is right. Part of the reason we are heading down the road we are in this country. I think this is a very personal decision and the seller needs to decide if down the road they can live with their decision. I am not saying what to do, I would never do that. I just know that personally I would tell the buyers. If that means losing some value on the sales price of the home then so be it. I would not want to pay out of pocket for a new roof but would certainly consider giving up some of the sales price. But that's just me, then the sale could progress on time and in the end I sllep better every night.

 

[Cindy's Mom]

Its not your duty to replace the roof. You're selling the home, they want a new roof, then they can get a new roof. My mother recently sold the family home and the buyers requests were outrageous and her home was up to date with every thing. Brand new kitchen, house re-wired, new bathrooms, new roof. She was in position where she didn't have to sell, the realtor "got wind" of my mom already buying a condo and used it to try and get my mom to sell fast. My mom pretty much told them to pound it. They came back a few days later, full ask, no repairs.

Offer a credit at closing is what I would do. Best of luck to you

 

[Disneybuckeye]

I would do the repairs as requested and that is all. We sold our 120 year old home last summer and our daughter bought a condo two weeks ago. Reading the inspection on our house there were other things the buyers could have asked to have fixed, but did not. I am sure they were worried about losing the house (we did not have to sell and it was in a very desirable location) and only asked for a few items. We did purchase a home warranty. DD's inspection showed her furnace and hot water heater are approaching the normal end of their usable life, but are working and could last for years. She negotiated money off the asking price that would cover replacing both and was pretty now she is playing the waiting game. She also has a home warranty that might help. She also did not have to buy, so the seller was more desperate than she was.

Obviously the roof was discussed with the buyers. I believe as others above they asked for enough to hopefully nurse it through for a while and they will replace when they have to or want to. I would not tell them anything as I take everything inspectors and repair people tell me with a grain of salt.

 

[MillauFr]

You are under no obligation to disclose anything additional. You honestly filled out the form with the information you had at the time. These forms are more useful for things no inspector could expect to discover during a routine inspection. The roof was easily visible to the inspector. They said nothing other than replacing a few shingles. That is all you have to do.