Includes Multi-Unit Housing
Investor property inspections are performed prior to purchase as well as periodically during ownership. Pre-purchase inspections are performed to identify defects prior to taking ownership to negotiate repairs or price adjustments which reflect the condition of the property. Periodic inspections for properties currently in your portfolio would ensure the identification of needed repairs following say a long term tenant’s departure. Long-term tenants sometimes neglect to mention repairs and/or abuse the property during their tenancy. Identifying those problems early is the key to profitable ownership.
Listing inspections are very good for the homeowner who may not be in tune with the condition of their home. A great many sales are cancelled due to the buyer’s shock at the “functional condition” of the home. It may look great, but have serious technical, safety, or functional issues present without the owner’s knowledge. Having the home inspected prior to placing on the market is the ideal way to identify and either repair or disclose the issue found in the Inspection Report. Obviously, repairing the items would be the most beneficial towards completing the sale. However, there may be financial reasons where the owner can’t make the repairs. Disclosing them up front and pricing the home based upon that disclosure will often times produce a higher net sales price for the owner.