Investor · Tampa, FL · Member since 2018 · 2 posts · 0 votes
Hi all. I just had a 4 point inspection completed on an investment home in Florida that Im planning to list on MLS. Everything passed except for the "secondary roof" which consists of a membrane roof over an unheated, patio "room" separated from the man house by glass sliders. Will a buyer be able to get insurance and a mortgage as-is or do I need to replace the secondary roof?
Hi all. I just had a 4 point inspection completed on an investment home in Florida that Im planning to list on MLS. Everything passed except for the "secondary roof" which consists of a membrane roof over an unheated, patio "room" separated from the man house by glass sliders. Will a buyer be able to get insurance and a mortgage as-is or do I need to replace the secondary roof?
Hi Ron!
Great job on completing the 4-point inspection for your investment home. Regarding the secondary roof issue, your first step should be to consult with your current insurance provider. If they are insuring the property in its current state, it's likely that a new buyer will also be able to obtain insurance without trouble.
As for the mortgage aspect, the key factor will be ensuring that the house, including the patio "room" and its roof, meets all local building codes and standards. If everything is up to code, mortgage approval should be straightforward for potential buyers. However, it's always a good idea to address any potential issues upfront to avoid complications during the sales process.
In short, if your property is currently insured and meets all building codes, replacing the secondary roof may not be necessary. But staying proactive by consulting with professionals in insurance and real estate can provide further peace of mind.
Ron, your post leaves some questions for sure ... Why did the "flat roof" not pass? (exactly) If it is older and needs attention, many times you may be able to do a "coating" on it, instead of replacing it.
But a coating, or even possibly doing a 2nd layer, all depends on what is there and it's condition. if it's still in decent condition, no ripples or waves in it, and depending on what type of material it is ... Doing a Prep, seal, coating may be your easiest and cheapest option!