I purchased my home 9/22. I had the inspection done and appraisle done. I got a letter in the mail from my insurance company canceling my policy because I need 2 new roofs. No one noted this on any of my reports. Help!!!
2007-11-02 04:46:47 · 4 answers · asked by REGINA B 1 in Business & Finance ➔ Renting & Real Estate
I have a top roof and porch roof. The inspector only said the shingles need repaired he never stated that roofs needed replaced . Do I have any rights to get this resolved .
2007-11-02 05:05:57 · update #1
I had a roofer come out he stated it will cost me 18,500 to do the work. Roof, chimney,Soffit.
2007-11-02 06:26:28 · update #2
I do have rights I just thought someone else went through this problem before. I am in touch with a Lawyer . Because the previous owner would have fixed it or a different bid would have been offered
2007-11-02 07:29:41 · update #3
Maybe they are saying you have two layers of roof on your house. A lot of companies don't want to insure with that situation but it used to be a very common practice.
They would be telling you that you need to pull those two roof layers off and put a new roof on to get insurance from them. It may be that your top layer of roof is in great shape but your insurance company doesn't want to insure a house with two layers.
Call two or three insurance companies and ask them to insure your house--tell them your situation and ask how much they will charge.
Your appraiser is not responsible for calling this to your attention but the inspector should have. He wouldn't call it a defect though if the roof is in good shape.
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based on your new comment, I would have a high quality roofer out and see about repairing it. Listen carefully to the roofer. Don't do repairs if he seems to think you really need a new roof- why waste money. But if he thinks repair is the way to go, then I bet you would be able to get insurance from another company after the repair work is done.
2007-11-02 04:56:51 · answer #1 · answered by glenn 7 · 0⤊ 0⤋
You have a complaint with neither the appraiser nor the inspector. It is not the appraiser's job to point out such issues to anyone. He is merely there to verify the financial value of the property for the lender involved.
You indicate that the inspector noted that the roof needed some repairs, so he didn't miss anything there. His job is to inform you accurately of the condition of the property at the time he inspects it. An inspector is not going to tell you that the roof MUST be replaced. That's not his decision. He can only inform you of the current condition, which he did.
You are dealing with a requirement from your insurance company. THEY are the ones who don't want to insure your property in its present condition. In this insurance market, it's always wise to have the insurer view the property BEFORE purchase to ascertain whether or not they will insure it in current condition. Sadly, you discovered this after your purchase.
Were I you, I would shop around for other insurers who may accept the property as it is. Additionally (you don't say where you live or how large your roof is) that price for a roof replacement sounds astronomical. Shop around for that as well.
2007-11-02 07:24:21 · answer #2 · answered by acermill 7 · 1⤊ 0⤋
they go by the effective age of the roof if it is more than 15 years old they can tell you to replace it. people don't realize that insurance companies send out their people when they write a new policy and if in their estimation it needs a roof than you either get a new insurance company or a new roof
2007-11-02 06:18:09 · answer #3 · answered by Anonymous · 0⤊ 0⤋
Especially in FL & other southern states, insurance companies are pulling out and canceling just about everyone. Everyone around me that owns has gotten "the letter", I live in North FL.
They all have weird rules. Shop around.
It's probably in good shape, but insurance is tricky. It could still have 10-15 years life left in it, but 2 layers can throw a red flag.
2007-11-02 05:06:13 · answer #4 · answered by Casie 4 · 0⤊ 0⤋