{"id":8033,"date":"2018-01-24T15:15:42","date_gmt":"2018-01-24T23:15:42","guid":{"rendered":"http:\/\/www.roryc.ca\/blog\/?p=8033"},"modified":"2018-01-19T13:23:34","modified_gmt":"2018-01-19T21:23:34","slug":"home-inspections-can-help-increase-profit-margins","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2018\/01\/home-inspections-can-help-increase-profit-margins\/","title":{"rendered":"Home Inspections Can Help Increase Profit Margins"},"content":{"rendered":"<p style=\"text-align: justify;\">Home inspections are crucial in any housing transaction, but for an investment property they can go a long way towards determining how lucrative the returns are.<\/p>\n<p style=\"text-align: justify;\">Alice Soon, marketing manager of Pillar to Post, says that while investors have different objectives than end-users, it doesn\u2019t negate the necessity of having a potential home purchase thoroughly inspected, especially because of how sensitive the numbers involved are.<\/p>\n<p style=\"text-align: justify;\">\u201cFrom an investment standpoint, you really have to make back your ROI, your cash flow, so you need that home inspection as an assurance, because, as an investor, you have totally different objectives and goals,\u201d she said. \u201cAt the end of the day, you have to make sure that the numbers make sense, and that you\u2019re not buying something you\u2019re unprepared to renovate or fix.\u201d<\/p>\n<p style=\"text-align: justify;\">She added that because investors are landlords, they would be legally responsible should anything awry occur on the property, like an injury sustained because of a hazard.<\/p>\n<p style=\"text-align: justify;\">\u201cIf something were to happen, as a landlord you\u2019re 100% liable to the tenants in your unit, so you have to do your due diligence and check things,\u201d said Soon.<\/p>\n<p style=\"text-align: justify;\">Pillar to Post reports tend to run up to 50 pages and, for convenience, can be accessed electronically.<\/p>\n<p style=\"text-align: justify;\">Sellers who have their homes inspected by reputable inspection companies position themselves favourably at the bargaining table, because they can either fix the issues or be completely forthright about them. That also helps sales agents close sales, too.<\/p>\n<p style=\"text-align: justify;\">\u201cEither way, you have a better chance of getting your asking price, and with transparency, the buyer will feel more trust and the transaction will tend to go smoother that way, rather than them bringing their guy in,\u201d she said. \u201cThe transaction can deteriorate when they think you\u2019re hiding things.\u201d<\/p>\n<p style=\"text-align: justify;\">Jay Fleming, a veteran sales agent with Royal LePage Your Community Realty, always recommends clients use a home inspector, even if the seller had a pre-listing inspection done.<\/p>\n<p style=\"text-align: justify;\">\u201cThey\u2019re around $400 and they\u2019re worth the money because you know exactly what you\u2019re buying into,\u201d he said, adding that choosing the right inspector is equally important. \u201cYou can take the same house and have three different inspectors go in and do inspection reports and get three very different reports.\u201d<\/p>\n<p style=\"text-align: justify;\">Fleming added that longer home inspection reports are typically more trustworthy.<\/p>\n<p style=\"text-align: justify;\">\u201cIf there\u2019s a 10-page inspection report versus a 40-page one, you know the 40 one is a lot better because it will go into more detail,\u201d he said. \u201cThe client is there for the entire inspection because the inspector is working for them, so the inspector will explain how the house works. Particularly, if the buyer is a first-time buyer who\u2019s lived in apartments or condos their whole life, they have no idea how a house works.\u201d<\/p>\n<p><a href=\"https:\/\/www.canadianrealestatemagazine.ca\/news\/home-inspections-can-help-increase-profit-margins-236482.aspx\" target=\"_blank\" rel=\"noopener\">Home Inspections Can Help Increase Profit Margins<\/a> by Neil Sharma | Canadian Real Estate Wealth<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Home inspections are crucial in any housing transaction, but for an investment property they can go a long way towards determining how lucrative the returns are. Alice Soon, marketing manager &hellip; [<a href=\"https:\/\/www.roryc.ca\/blog\/2018\/01\/home-inspections-can-help-increase-profit-margins\/\">read more<\/a>]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"class_list":["post-8033","post","type-post","status-publish","format-standard","hentry","category-real-estate"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Home Inspections Can Help Increase Profit Margins &#8226; Rory C Real Estate | Oakwyn Realty<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.roryc.ca\/blog\/2018\/01\/home-inspections-can-help-increase-profit-margins\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Home Inspections Can Help Increase Profit Margins &#8226; Rory C Real Estate | Oakwyn Realty\" \/>\n<meta name=\"twitter:description\" content=\"Home inspections are crucial in any housing transaction, but for an investment property they can go a long way towards determining how lucrative the returns are. 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