Everyone needs a roof over their head.
So, selling a house without one may seem difficult.
However, it is possible.
Read on to learn how it can be done.
Bad roofs
Roof problems can range from a few broken tiles to the roof being missing entirely.
Between these lie a range of other issues, such as:
- Structural issues (including sagging)
- Damaged chimneys
- Leaks
- Pest problems.
And more.
Thatched roofs
Thatched properties have an essentially unique set of roof issues, including:
- Thatch degradation
- Water damage
- Uneven decay in shaded areas.
These require specialised repair by a thatcher and must be completely replaced every 20 – 30 years.
Can you sell a house with a bad roof?
Yes, but the way you sell may be influenced by the level of roof damage.
The number of potential buyers on the open market for a property with a bad roof is limited.
This is primarily because most won’t want to take on the effort of repairs (even if a lowered selling price covers the cost).
However, it could also be due to their inability to get a mortgage for the property.
Mortgage on a house with a bad roof
If the issues are too severe, most buyers will struggle to get a mortgage.
It depends on how bad it is. So, minor functional or cosmetic issues shouldn’t be a problem when getting a mortgage.
Major problems may make a mortgage impossible. A hole in the ceiling or a missing roof are the best examples.
Each lender has their criteria for habitability. You should get a personalised visit from a lender if you’re unsure.
Serious damage
At the more serious end, roof issues make homes uninhabitable and sometimes even condemned.
In these cases, buyers may be interested in buying the land the property is on.
Either way, the most likely buyers are:
- Investors: You can contact a property investor directly and arrange a private sale. Many of these are developers.
- Cash buyers: These (including We Buy Any Home) buy properties fast for under market value. Their process is simpler and more guaranteed than the open market.
- Property auctions: These often specialise in selling homes in bad condition. They are faster than the open market but rely on bidders (so the selling price or completing a sale are uncertain).
Medium to low levels of damage
For less serious problems, property may simply be considered bad condition.
You can sell this on the open market, but you’ll likely need to lower the asking price.
Disclosing roof condition
Whatever the circumstances, you must be honest with the buyers about any issues with your roof. This is usually included in the TA6 Form.
You must disclose this information in writing and adjust your price accordingly.
Otherwise, your buyer can sue you for damages once they discover it.
How does a bad roof impact property value?
Aesthetic issues with a roof will reduce its value by between 5% to 10%.
Functional issues, like a minor leak or broken chimney, will reduce the house value by around 15%.
Meanwhile, a significant problem with the roof – like a big hole – will reduce the property value by roughly 25%.
An independent valuer can give you a customised valuation.
