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.
Seller Certified Home Program (Pre-Listing Inspections)
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.
Radon and Home Sales
More and more, home buyers and renters are asking about radon levels before they buy or rent a home. Because real estate sales happen quickly, there is often little time to deal with radon and other issues. The best thing to do is to test for radon NOW and save the results in case the buyer is interested in them. Fix a problem if it exists so it won’t complicate your home sale. If you are planning to move, review EPA’s pamphlet "Home Buyer’s and Seller’s Guide to Radon," which addresses some common questions (www.epa.gov/radon/pubs/realestate.html). You can also use the results of two short-term tests done side-by-side (four inches apart) to decide whether to fix your home.
During home sales:
Buyers often ask if a home has been tested, and if elevated levels were reduced.
Buyers frequently want tests made by someone who is not involved in the home sale. Your state radon office (www.epa.gov/radon/whereyoulive.html) can assist you in identifying a qualified tester.
Buyers might want to know the radon levels in areas of the home (like a basement they plan to finish) that the seller might not otherwise test.
Today many homes are built to help prevent radon from coming in. Building codes in your state or local area may require these radon-resistant construction features. If you are buying or renting a new home, ask the owner or builder if it has radon-resistant features. The EPA recommends building new homes with radon-resistant features in high radon potential (Zone 1) areas. Even if built radon-resistant, every new home should be tested for radon after occupancy. If you have a test result of 4 pCi/L or more, consult a qualified mitigator (http://www.epa.gov/radon/fixyourhome.html) to estimate the cost of upgrading to an active system by adding a vent fan to reduce the radon level. In an existing home, the cost to install a radon mitigation system is about the same as for other common home repairs.
We are also certified Radon testers for both Ohio and West Virginia. Ohio license # RT789, and for West Virginia, license # RT000451. Click here for more information on Radon gas and testing.