Introducing Your Official Real Estate Help Desk.
Arming yourself with the most up-to-date real estate information can be a powerful tool whether you’re buying or selling a home. Brand new to WYHomes & Properties magazine is Olivia Prince’s Ask Olivia column. Olivia is the Broker/Owner of Wind River Realty and each month she will feature an answer to one of the month’s top questions right here in the pages of WYHomes! For more information or to ask your real estate question, contact Olivia at olivia@ask-olivia.com. Be sure to join the discussion online at www.WYHomeSearch.com...
Ask-O,
Do I need to replace my T-Lock Roof?
Q: I am seeing a lot of roofs in our neighborhood being replaced and our neighbors have been hearing a lot of talk about T-lock roofs. Is there something wrong with them? The simple answer is No there is nothing actually WRONG with a T-lock roof other than they have become obsolete and the manufactures don’t make them anymore. Basically time has gone by and there is new and better technology. At the time they were developed, T-locks were considered a state of the art roofing shingle, and could better withstand high winds. However, what happens because of them not being manufactured anymore is that if you have some damage on your roof, you can no longer repair it and would have to replace the entire roof. This sometimes causes an issue with getting insurance, as many insurance companies will no longer insure these roofs due to the cost associated with replacing vs. repairing. So, the next question is “What do you need to do if you have a T-lock roof” right? That also depends on what your future plans are. If you are looking to buy a home that has T-lock shingles, either avoid it or ask your Realtor the best way to handle the situation. In many cases my Buyers have been asking the Seller to put a new roof on the home by a professional contractor. Be sure it is done by a professional. We just saw a nearly new roof that was done incorrectly and now the owners are having to do another new roof! Yikes! Some owners may be able to get a new roof partially paid for by their homeowners insurance, or maybe they can pay for the roof out of the proceeds of their closing. These are all things your Realtor should be able to help you negotiate. If you own a home with T-lock shingles and want to sell, you may want to talk to your Real Estate Professional as well as get a professional roof inspection. In many cases if you deal with the situation up front, you will have better luck with the sale of your home. You may have damage and qualify for a new roof, and even if you don’t, you may want to see how you could build that into your selling plans or you will be limiting your Buyer pool. If Buyers can’t get insurance, then it could affect if they can get a mortgage, which limits the Buyers substantially. If you aren’t buying or selling, my recommendation is still to get a roof inspection. If you have damage see if your insurance company will help you replace the roof so that it is taken care of. If not, there are some T-locks that have plenty of years of life left and you just need to plan that at some point down the line, like anything else, you will need to do the home improvement and budget for a roof to be replaced. Having the knowledge in advance that it could be coming can make you more prepared and you can save for the expense when the time comes. Your Real Estate Professional should be able to guide you with the best way to handle it and maybe they even know of roofing professionals in your area that are familiar with the process of working with insurance companies. If you don’t have your own Real Estate Professinoal feel free to Email me or call me or my team of Hometown Realtors anytime! If you would like more information, please feel free to Email me at olivia@ask-olivia.com. ~ Olivia
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