About to list house and realize a major repair is needed. How should I proceed?

We are currently under contract to purchase a new house which is NOT contingent on us selling ours, but because our market is currently rather hot and summer is half over, we want to list right away. We have fixed up the house nicely, had our agent over and agreed on all the details. But in fixing up the house I found an issue that could be somewhat major.

A previous owner built an extension on the house which made the original one-car garage a two-car. Rather than building all the way up, they put a flat roof on it, so it stops at the first floor of the house. Well, it turns out that flat roof (EPDM rubber) is leaking into the garage. It's very subtle, hence why I hadn't noticed this before. The first roofer I just had over told me it needs to be fully replaced and his boss will come give an estimate. I have another roofer coming tomorrow, but I expect the same answer. I don't yet know what this will cost. If online tools are accurate, probably about $2,000. So not major-major, but the work involved is messy.

And we have a photographer coming next week to shoot our house so our agent can list it.

Before I update the agent, I thought I'd ping this sub for some thoughts. Right now, the roof above the garage has a very nice garden. I have about a dozen planters all producing nice vegetables. I find this a selling point. When we bought the house, we thought the area was odd and useless, but we've put it to good use (despite the astro-turf that covers it).

My thought is to disclose the issue and state it will be repaired before closing. Since the damage isn't really visible outside some mildly damp drywall in the garage, I'd rather not go tearing it up yet. The other advantage is here is that we could possibly give the buyers an option on covering, assuming they don't want the astro-turf our previous owners went with. Obviously, if they want something fancy, they need to pay for that.

The roofer suggested just disclosing it and then offering a credit. I'm not sure how that works. I assume as a buyer, that might be good so they can hire the person they want and have it fixed to their liking. But if they are an FHA buyer, I doubt that option will fly, right?

Otherwise, I put a hold on the listing until it's all fixed. It will likely still look the same, but we will have lost some time to get it sold before fall.

Thanks for reading my wall of text.

TL/DR: About to sell house and part of the roof needs to be fixed. Visually it's fine. List and disclose that it will be fixed? Or hold off, fix and then list, losing time?

More real estate tips at Program Realty Wix site


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