A property report includes every detail about the property that a buyer requires. It allows them to have a comprehensive look at a property and evaluate its estimated value, historical and current listing photos, property information, buying and selling history, repairs and improvements made in the past, school reviews and ratings, local market statistics, and more. This guide by our real estate experts will walk you through the reasons why you should always get a property report before accepting an offer on real estate.
Determine the Best Time to Sell
If you want to sell your home, get a property report to determine the best time. This document will also include details regarding the number of times it has been placed on the market for sale and the duration it stayed in the market. Real estate agents recommend you should consider selling your property in the summer months because, in winter months, properties take longer to sell.
A property report will also help you determine comparable sales in a neighborhood. If properties in this area are being sold within a few days, you can also put up your property on the market.
Make the Most of Your Investment
Investment property owners can get a property report to maximize their investment as it includes the area’s vacancy rates in detail. For instance, if the vacancy rate is below 2%, it would be a great time to raise the rent since the demand is high. Moreover, a detailed property report also sheds light on the area’s comparable rents. If other investors increase the rent, you can also benefit from this opportunity.
Find Out the Property’s Value
Determining a property’s value offers several benefits, such as building up equity in your property’s value that has appreciated since you bought it. This equity can be used to remodel the property, which further adds to its value. Many investors also sell the home for downsizing and use the remaining cash to plan a holiday.
Partner with a recognized real estate company, like Southwest Florida R.E. Group to get a detailed property report. Whether you’re thinking of buying or selling a home, our transaction coordinators can simplify the process and guide you at every step until the deal is closed.
Get a free property report here.