House needs a roof but we're ready to sell.

[OnionPatch]

Should we replace the roof before we sell or lower the price? I'm assuming the market has something to do with this and the shape of the roof....it's 25+ years old, looks ok and has no current leaks but we've fixed a few leaks in the past. I'm sure more will turn up soon.

Not sure I'm in the right forum for this but if so, any other tips on getting a home ready to sell would be welcome. I always get great advice from DUers.

[GeorgeGist]

1. If you're planning to use a Realtor ...

I'd run it by them.

[OnionPatch]

8. Yes. We'll get a realtor eventually.

We've got a couple of DIY things going on now though and want to get them finished before we bring in the realtor. We're just thinking about our project finances for the whole thing.

[Hoyt]

2. Realtors will tell you to replace it. They want a fast/easy sale. I'm in similar situation and will

probably try selling at a reduced price and let buyers choose their replacement carpet, etc. I know most buyers would prefer a house with everything updated, but I'm not putting money into it unless I absolutely have to. I'm lucky in that I am in no hurry to sell. Good luck.

[OnionPatch]

6. We're probably going to need to get it sold fairly quickly.

So we're hoping to make it look like an attractive deal. The roof thing worries me.

[Hassin Bin Sober]

3. If I were spending money in order to sell, I would do cosmetics, cleaning and de-cluttering

I think required watching for prospective sellers and clueless realtors is that show on one of the DIY channels, Sell This House.

On that show, they spend a couple hundred bucks on new paint, cleaning and staging. They concentrate on staging odd or misused rooms - like turning front porch junk rooms in to elegant little sitting areas. Or staging unfurnished bedrooms and dining rooms in to furnished rooms - sometimes even using boxes to create a bed or sheet wrapped lawn furniture to create a dinning room.

It think it's hard to overestimate the bang you get for the buck on a new fresh paint job.

I don't know that I would spend money on a roof that is not leaking. I would spend money only on the more enticing items and worry about the roof if it comes up. Then you can negotiate anywhere from zero, to a portion, to full replacement cost if comes up on inspection.

[OnionPatch]

4. Thanks, I'll watch that show.

We'd prefer to spend a little money as creatively as possible to stage it and hopefully get as much back as we can. We've put a lot of work into it over the years and it really only needs a few tweaks to be an awesome house.

As for paint, we've been working on that over the last few months, interior and exterior. What a difference it's made.

[pscot]

5. Price the house as though it had a new roof

then you can offer to knock off $10K in negotiations to sweeten the deal.

[OnionPatch]

7. I like that thinking.

[we can do it]

9. Keep in mind some lenders won't give mortgage if roof needed.

Also insurance companies may not insure if roof needed. That's another requirement for a mortgage.

[OnionPatch]

10. We just had a series of heavy rainstorms.

We're in Southern California where we have not had heavy rain for a long time. We had no leaks during the little rains but this time there is a leak. It's around the fireplace, an area that was fixed a few years back.

We've decide we just need to get the new roof. Partly because of that and partly because of your comments (thanks!) about prospective buyers maybe not being able to get a loan, insurance, etc. We hadn't thought about that. One insurer wouldn't insure us when we bought the house because the roof was so old. That was in 2003!

We've already put in new windows and doors all around, new exterior paint, a new heating/cooling unit and are in the middle or installing a new bathroom. So we may as well do the roof and be in the position to get a good offer.

I've got a lot of little cosmetic changes I want to make. I'll be posting for advice on those soon.

[we can do it]

11. All those things will help!

Good luck!

[Phentex]

12. I wondered what you were going to do...

I have a friend in the middle of a divorce. She needs and wants to sell the house but it needs some major things like painting, roof, some plumbing issues. She is worried that she can't refinance to make the repairs before she sells (if she does this without the ex). However, she knows she could get a lot more for the place if the big things were done.

Personally, I think she and the soon to be ex should get the repairs done first and split more money that way.

[OnionPatch]

13. Well, we're lucky to have the credit available

and my husband has a shop full of tools and the skills to use them. So we DIY a lot of the time. We'll be applying to our credit union for a loan to finance the roof, though.

Maybe your friend could talk to a real estate agent to see what updates or repairs would bring the most return without breaking the bank. I always hear that kitchen or bath updates are good. A fresh coat of paint can be fairly inexpensive and does a lot. But the main thing may be to have everything in working order first.

I wish your friend luck. I'll report back once we've sold if I learn anything worth sharing from the whole experience.