Roof Leak Mortgage

Keeping a house with a bad roof is dangerous.

Roof leak mortgage.

Yes you can sell a house with a leaking roof. If the roof has been leaking for a while there may be visible signs of long term water intrusion. Leaks can damage to rest of the house. These could include mold or mildew growth stained wood or water damaged insulation.

Our general topic is when the roof causes a leak in your mortgage approval. If the roof appears to be in poor condition in the appraisal pictures then often lenders will ask for a certification from a roof inspector estimating the remaining life of the roof. Broken window panes leaking water lines missing handrails broken heating systems or noticeable electrical problems. If the leak isn t obvious have a helper watch in the attic while you get on the roof with a garden hose.

Most homeowners insurance policies won t pay to replace or. Other deferred maintenance issues that may also get flagged. Look in the attic with a flashlight for evidence like water stains trhen trace them up the roof and rafters to the entry point. For your real estate closing for the purchase of your home or refinance contact joe rojas at 901 289 5821.

However whether your homeowners insurance company will reimburse you for the repair of a roof leak and any subsequent damage to your belongings depends on the original cause of the leak. Subscribe to get our weekly blogposts with podcasts at www jogarner. The roofing material is faulty so it is the manufacturer s fault. If the leak was caused by an insurable event something that was sudden and accidental then damage to the interior of the house and its contents will likely be covered.

Thank you to joe rojas representative for quality title group in memphis tn. Your home insurance policy s declaration page will explain which perils are covered or excluded under your current policy. When roofs leak the water often damages the interior of the house and the furniture appliances systems carpeting and personal property inside. Most homeowners insurance policies cover roof replacement if the damage is the result of an act of nature or sudden accidental event.

March 19 2001 we just purchased a home with an fha loan and the seller did not disclose many problems the roof leaks the toilet is falling through the floor fha inspected the house before we moved in and they will get the house if we default and move out. The roof wasn t installed properly so it is the roofer s fault. This is the most common reason and the next reason is the second most used excuse. Begin soaking low on the roof just above where the leak is visible inside the house.

The first place to get impacted is the attic quickly followed by the interior ceiling.