Real estate is so unpredictable and the swath of possibility so wide that you can be in this business for twenty years and still see new things. Maybe that’s why I love it; I’ve always loved learning. Anyway, I recently learned of an interesting way to negotiate getting a new roof for my buyers, even in this cut-throat market where sellers hold nearly all the cards.
I had buyer clients who started their search in January rather than waiting for the spring. (This turned out to be prescient, as we are STILL suffering from lower-than-average inventory, even in the spring.) As a result, we were able to go under contract without being in a bidding war and paying 20k plus over asking price. We had cleared the hurdle of going under contract, so we moved on to inspections….aaaaand found out that the roof (older) had active leaks. Now in this market, there is no guarantee that the seller will care much about your requests, especially if you’re under contract “only” at list price. A roof – about 16k – would be a big ask, but we felt it was appropriate. My clients had good experiences with StormGuard Roofing, so I got in touch with the rep there and learned that they had vast experience with working with insurance companies to get roof replacements approved. I was a little skeptical, but in the end, my clients got a high quality, brand new roof that the sellers paid a $2500 deductible for. We closed and everyone – all sides – were VERY happy. Win-win, even in this market!
If you’re interested in the details, here’s what ended up happening:
The StormGuard inspector came to look at the roof to see if it was worth putting in a claim or not. They can even tell you what the likelihood of it getting covered might be, depending on your insurance. Wind or hail damage seems to be the primary things they’re looking for. If it’s not worth putting in a claim, they’ll tell you.
In this case, it was worth putting in a claim. StormGuard will work with the owner to help them do this, which is what they did in this case.
The insurance rep came out to the house to meet with the StormGuard rep, who indicated where the damage was. We had to wait a little while to hear the verdict, but insurance approved the replacement.
The seller signed the contract to have the work done with StormGuard and paid the deductible before closing.
We closed the house (with paperwork in place to ensure that the roof job would be done). My clients are meeting with StormGuard to choose shingle color and other things they want, and work will commence. Insurance will pay out to StormGuard, and the shingle and labor warranties will transfer to the new owners.
New roof, easy peasy!
Storm Guard is a roofer, windows, and siding contractor, and painter all rolled into a one stop shop! They are ready to handle residential and commercial projects, and offer hassle-free service on every job. Storm Guard of Durham-Chapel Hill is the right team to turn to when you need to repair or replace your roof, windows, or siding, whether they were damaged by a storm, have gotten old, or you just want to update your property’s look. They are a locally owned and operated company that has the backing of a national brand, and will provide you with the highest quality exterior contractor services available, at great prices and with an industry-leading warranty.