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Advice on home with an old roof

Hi all, feeling like I may have made a mistake in this crazy circumstance of buying a house.

I just put an offer in on a house in upstate NY that has a 20 year old roof, disclosed on a mandatory dislosure form required by NY law. The roof looked ok to me, I know the life of a roof is usually 20-25 years. This was a perfect house for us otherwise, so I'm doing the math in my head thinking, 'ok we get an inspection, if it comes back needing immediate attention we ask for concessions or walk, and if it comes back saying another ~2 years probably, we go forward and plan to replace in the next 2 years'. I'm ok with that. What I can't do is dip tens of thousands into a down payment, then immediately within 30 days or whatever find another 20K for a roof.

After putting in the offer last night, I was spiraling out of control and reading about how apparently insurance companies may not cover a roof based on that age, even if the inspection comes back fine. Or they could cover me for close but then threaten to drop me soon after when they get their own inspection done. This was where I made my mistake. I did not factor that in. I didn't even think of insurance, but even if I had I would have just assumed the insurance would be more expensive until the roof was replaced, not complete denial.

I'm kinda panicking, the seller's haven't accepted yet, I'm wondering if I should call my agent and just withdraw my offer now before I'm sunk in the cost of an inspection and real estate attorney, only to have to walk away.

Advice?

submitted by /u/dpezpoopsies
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source https://www.reddit.com/r/RealEstate/comments/1nxrjcj/advice_on_home_with_an_old_roof/
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