Insurance options for really old roof

[Anthony Pantuso]

Hello all,

I'm working on closing on a duplex on the Space Coast. I am financing the deal through a traditional loan. The roof has little to no usable life left in it, which makes traditional insurance options impossible. Both sides have tenants on a 1 year lease that expires June of 23. 

Are there insurance options for a property like this which would allow my underwriting to clear and cover me while I get the roof replaced?

Thank you in advance!

Tony

[Jerry V.]

Anthony,

Just be careful if the "seller" replaces the roof in this deal, why?  Because obviously the seller will want to get things done as cheaply as possible just to make the deal happen.  They you are stuck with the results!  IF you go that route, AT LEAST make sure that the "Comapany" that does the work, warranties everything to any/all new property owners.  Have it in writing!

Jerry W/J's Roofing

JsRoofing.com