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Updated over 11 years ago on . Most recent reply

Derek Johnson's profile image
Derek Johnson's profile image
Derek Johnson
  • Investor
  • from Waterloo, IA
  • Member since Oct 24, 2012
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User Stats

82
Posts
13
Votes
Derek Johnson's profile image
Derek Johnson's profile image
Derek Johnson
  • Investor
  • from Waterloo, IA
  • Member since Oct 24, 2012
Connect
Derek Johnson
  • Investor
  • Waterloo, IA
13
Votes |
82
Posts
Foreclosures

Flat Roof

Derek Johnson
  • Investor
  • Waterloo, IA
Posted

W put an offer on an REO property for $65,200 and it was accepted.

It has a flat roof! I have heard these can be expensive to replace, and it would need done soon. Can they really be upwards of $15k? It is probably around 1000sqft. of it.

The property is valued around $107k in a desirable area, but I didn't foresee the cost of this roof (I estimated $5-$6k). We have a 3 day window to request it be fixed by the seller (it won't be), per our inspection clause to get out of the deal? Any advice?

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