Imagine purchasing a new home, you’ve sealed the deal, got the keys and even made sure that there’s a warranty on the residential roofing. Everything seems perfect, right? Well, if you’re anything like the hundreds of new homeowners out there, you might be in for a surprise when the first rains hit and you realize that your roof has a few unexpected leaks that aren’t actually under warranty. To avoid being caught off guard during a downpour, here’s all you know about how to protect yourself from a hefty bill for a leaky roof.
Purchasing a new home is a big deal. Not only is it one of the biggest investments you’ll ever make, but it comes with some big responsibilities as well; like ensuring that you have received the correct warranties from the previous owner. If the previous owner of a home has recently replaced the roofing, it is highly likely that it will still be under warranty and that that warranty will be transferable to any future owners. However, there are a few things you will need to do to ensure that the warranty is still valid for you.
Firstly, don’t assume that the warranty or guarantee has been automatically transferred to you during the purchasing process. Each roofing company will have different terms and conditions when it comes to transferring warranties, which is why it is so important to do your research into whether or not the warranty is even transferrable. Many roofing companies won’t allow for transfers as it limits their liability.
Secondly, if the warranty is not transferrable, it would be best to contact a roofing contractor to survey the condition of the roof. In most cases, when a roof warranty isn’t transferable, you will be able to negotiate a reduction in price with the owner.
Thirdly, if the warranty is transferrable, you will need to do some research to determine the length of the warranty and whether or not the previous owner has done anything to invalidate the warranty. For example, many roofing companies will stipulate that regular maintenance is required to validate the warranty. If the previous owner has failed to follow these types of terms and conditions, the warranty might not be valid for the new homeowner. In which case, you will need to ensure that you get a new warranty for your roof before moving in.
Be sure to check if there are any time constraints on the transfer. In many cases, roofing companies will only transfer the warranty within the first month of change of ownership.
Lastly, be sure to receive a transfer document from the company that has issued the warranty. By receiving the transfer document in writing, you are ensuring firstly, that the company still exists, and secondly that the warranty is official and legal.
Warranties can be the biggest cause for confusion when buying and selling a home! To avoid any confusion and hefty bills, be sure to receive a residential roofing warranty from a company like ABC Roofing Corp. that allows for transfers to new owners without any hassles. If you have any questions about warranties or you just need an inspection done on your roof, don’t hesitate to contact us at ABC Roofing Corp.