If you’re buying a house with a limited-lifespan-left-on-the-roof , be prepared for a hiccup or two.
As far as roof insurance goes:
If the home you’re buying has less than a year’s ‘life’ left on the roof, getting insurance may be virtually impossible.
With 2-5 years of life left on the roof, your insurance company may or may not write a policy for you, depending on who that insurance carrier is.
And if your insurance agent is willing to write a policy on a roof with a limited lifespan, once the paperwork is sent on to Citizens (the main insurance provider in Florida), Citizens will likely push it back … requiring that you agree to install a new roof within 90 days of closing.
Most insurance companies require that roofs have a minimum of 3 years lifespan left, and no leaks, in order to issue a policy.
In buying and selling your home, we never forget that you have a choice. Looking for a knowledgeable Realtor? Call us. We look forward to making your next move a good one.
The Restivo Team – EWM Realtors – Vicki 305 793-1365 and Alexandra 305 632-0164
