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Inspection found leaks, closing next week, trouble finding insurance: Freaking out

Hello everyone, I am under contract and my home inspection found a couple water stains on the ceiling drywall, one that was recent. The house was built in 1995 I’m having trouble even finding a home insurance company to offer me a quote because the roof is too old. We are set to close next week and I am freaking out (reason for the 2am question).

The square footage of the living space is 2800 and the garage is 781, so around 3600. I saw online that you take the sqft and multiply by 1.12, then * that by the cost of the material you are using. I would be using asphalt shingles and those are apparently $4 - $15 per square foot. So by that math, I would be looking at between $16k and $60k.

The sellers realtor told me that they got two quotes for $23k and 27k, but hasn’t shown them to me or my realtor. She also told me that they said the roof had 4-5 years left. But when I asked the inspector yesterday he told me 25yeras is the expected lifespan and this house was built in 1995 so only a few months from 30 years old.

The seller was apparently nearly in foreclosure and had no money for repairs so the contract is ‘as is’. I guess I have two questions:

1) does anyone have a guess at what price range re-shingling would be for 3600sqft roof? (I’m in New Mexico) 2) Should I ask if I could get a roofing company to give me a bid? (Do they have to come to the house?)

If it is going to be $35-60k range I am considering backing out on the deal. The stains on the ceiling and the fact I’m having such trouble getting insurance are keeping me up at night. Legit love the house/lot/neighborhood otherwise and don’t want to lose it but this roof is hanging over me in all senses.

submitted by /u/QueenNymeria1
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source https://www.reddit.com/r/RealEstate/comments/1grt4x2/inspection_found_leaks_closing_next_week_trouble/

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