Profile picture for duckmama

Roof and how it affects appraisal / appraised value

Good morning,
I have an appraisal question, but let me give you some background information first.  We have a 2 family home with mostly new roofing.  There are 3 rooflines to this house.  The two rear roofs, which were in terrible condition, were replaced when we purchased the house.  Last year, we replaced 1/2 of the roof that is in the front on the main structure, because it was streaky and had curling shingles.  The other half of the roof isn't as bad.  It's all a matter of opinion--one insurance company told us we had to replace it, another said it was fine.
The question is this:  we'd like to refinance the house NOW, before replacing the other half of the roof.  Let's say that a home inspector  vouches that the roof has at least 3 more years of life to it, how can this "questionable" 1/2 of the one roof affect the appraised value?
Thank you in advance.
Please, no solicitations from lenders.  We already have one, thank you.
  • November 20 2013 - US
  • 0
    0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Be a Good Neighbor. Be respectful and on-topic. No spam or self-promotion! See our Good Neighbor Policy.

 
 

Answers (2)

Profile picture for duckmama
Thanks David.  Do you have an idea of what range percentage-wise or in dollars that this might reduce the value? 
  • November 22 2013
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Hi Duckmama,
Interesting situation. You can hope the appraiser may not catch the fact that part of the roof is not redone. Or the appraiser may call it out and of course minus out some value for the cost of the repair. I don't think there is much that you can do other than repair it or hope for the best.
Thanks,
David Poulsen
  • November 21 2013
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.