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Made an offer on a home 3 days ago, only to find out later the roof is 25 years olf and in desperate need of repair!

This was not disclosed to me!! I found out through a mutual friend, that happend to look into this house herself. it's been listed for 10 months. Now I know why! Am I allowed to back out of the offer? I don't want to risk my reputation with the Lender or my Realtor. Any help is appreciated - very worryed. by trutexan87631 from Panama City Beach, Florida. Mar 10th 2020 Reply

Toni Taylor (taylor_448_126)
#186 ranked lender in Florida - 7 contributions

You could buy the home with a rehab mortgage and get the new roof. Negotiate your purchase price based on this information and if you're within your inspection period you should fine to walk away if you choose but if you love the home look at 203K and Homestyle renovation loans. If we can help 561-207-8049

Mar 11th 2020
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