Do you think this roof might need replacement? I’ve been asked multiple times in my appraisal career to “ignore the tarp” on the roof, but when a tarp is present that means the roof is probably failing or getting too close for comfort, right? Well, maybe there really is no damage. Maybe it’s just an owner who prefers the look of a plastic tarp to comp shingles, tile or wood shake. 🙂
In a situation like this the appraiser has to disclose all he knows about the roof and cannot simply ignore the situation – whether the appraisal is for a private party or a loan. A property like this would not quality for conventional or FHA financing unless the roof was repaired or replaced. On top of the cost to replace the roof, I would be most curious about any other damage on the interior from water intrusion.
Do you have any real estate roof stories?