One of my best-kept secrets is finding a cost-effective way to build value.
Behind the scenes, I'll check with my chosen roofer to see if one of my upcoming listings has experienced recent storms.
If so, I'll approach the seller and find out who they are insured with and the cost of their deductible.
Then, I'll suggest we contact Northpoint Roofing Systems to inspect their roof. They do this by flying the roof with a drone and they use software to identify damage.
If we can put a new roof on prior to listing the house, I can raise the value - especially if I can find recent comparable sales in the area that don't have new roofs. I check both the listings and the disclosures of those properties.
In many cases, my clients have been able to replace the roof prior to the sale.
The effect has been a higher closing price, but we have a coveted new roof!! This can range from $12k and up depending on the size and cost of the roof.
Often in these situations, it is one of the few upgrades that has been done to the property - not to mention, the most recent.
It is one of the most expensive and least inspected systems as well.
Additionally, if the claim does not go through. There is still value. We have a written report on the condition of the roof. It memorializes the condition for future consideration.
For example, let's say I represent the buyer, in this case, and the claim is not successful. My client has a written report that states the condition of the roof when the home was purchased. Any future damage done, would be done under the policy of the new homeowner (a.k.a. my buyer).
So, in a year to two down the road, if they were to experience a storm - then, they would inspect again and re-file the claim.
In another example, if I am representing the seller and the claim isn’t successful, the written report and photographic evidence can also be used to defend against roof repairs requested by the buyer.
So, either way - it is a useful tool to be used in my cache of real estate expertise.
If you have specific questions about your real estate, feel free to give me a call
UPDATE 11/2/2021
Through Northpoint Roofing, I have been monitoring the condition of my own roof at my primary residence. Through that, they've informed me, unbeknownst to me, that there was a significant storm in my area July 2021. I was not aware of that... and certainly did not believe it could cause enough damage to my roof because I just had the roof scanned through them in March 2021 - with no avail, so I was not particularly enthusiastic. However, there was over 130+ new hits from hail with that recent storm. And, low and behold my roof claim was successfully approved November 2, 2021.