In this episode, Patrick goes in-depth about real estate roof certifications and gives some great insight on how they’re helping both the buyers and sellers in our local market.
Podcast Transcription: RoofLifeB024-183
Shayla: Thank you for joining us today for the Roof Life of Oregon podcast. I’m talking with Patrick Morin. Patrick, I’ve heard a lot about these real estate certifications that you are doing for buyers and sellers. So what are you finding when you’re going out on these roofs? What kind of experiences are you having?
Patrick: We try to get as much information as we can from the buyer or the seller, what they know about the home and the roof that we’re looking at, but generally, it’s not much. So I’m going out cold turkey, I might know the age, and that’s about it. But once I get there, I do an on the roof inspection, and I’m looking for things that, my whole goal is, if the buyer has hired me, I’m representing the buyer, I’m trying to find the issues that will stop that roof from serving for another guaranteed five years, and then beyond that, an expectation of what they can plan on for a re-roof, and what a re-roof will cost.
So when you hire Roof Life of Oregon for a roof certification as a buyer, you’re going to get everything that I can find is the problem, the cost to fix the problem, and then what you can expect that roof to last, what is the well care cost of that roof to last that long, and what’s going to be the cost when I have to re-roof it. So you get all this information on one the most important components on a home – the roof. As you well know, if you lived in Oregon over the past winter, that was a pretty important thing.
If a seller hires me, the person who is in the home currently, or owns the home, if they hire me, I’m now going out there to give counsel back to the seller of what the buyer is going to be checking out, and if you get that buyer, the best way to keep the buyer is to have these things done before it sinks the deal.
Lots of people come out and they’ll have a general inspector look at the home. The general inspector calls out the roof that they need to have a licensed roofing contractor look at it and certify. If for some reason the roof falls in that category, it might be because it’s at a slope, it might be it’s just too high, something that that inspector isn’t an expert at or doesn’t feel comfortable giving you that detailed information, they will call Roof Life of Oregon. I’ll go out and I’ll give counsel to the seller.
The whole reason for that is is that every house curb appeal, every house has assets to it like square footage, school district, the yard, the amenities, and then inside things, but really, if you find somebody that really loves your house, you don’t want to lose that buyer because the roof can’t be certified. You would want to know all the things to do before that. And if the house has a roof on it that’s not certifiable, I’ll tell you. So as a seller, you’re going to know, okay, my roof’s not certifiable, I need to go back in and say, how am I going to package this? You work with your relator to put it on the market. You could put on a new roof and take your home off the market, if it’s already on the market. Re-adjust your price, because not you’re selling an asset of yours with a brand new roof. Studies show that your recover 60-65 percent of your roof value in a real estate transaction, so you know, it’s a 35-40% cost to you of a roof. Average roof $20,000 so you’re a 6-7 thousand dollar hit on something like that. So you need to know that. It helps you in your planning. It helps you in your strategy.
And I have an example for you. There was a client that we’ve been taking care of for 27 years. They live in Bauer Wood. It’s a very nice subdivision in northwest Portland. The home’s almost 30 years old and on the south side, we’ve replaced the roof on the south side, it’s a shake roof, it’s a 10/12 pitch, pretty good pitch to it, but the front faces north, and the two big sides are south and north. The backside has been replaced five to seven years ago, the front side’s doing well, just doing normal well care. I went out, they’re getting ready to move to southern California. The husband’s been commuting for the last year. They just want to be together and sell this big family home of theirs. I went out and there was only like 228 shakes, a 4×4 skylight, there were four cracked can vents, and the chimney chase on the backside, the siding was just falling off. And when a chimney chase sits in the middle of roofing and it leaks, it comes through to a homeowner like a roof leak. So I call out the chimney. And we ended up doing like 7-8 thousand dollars worth of work. She now has a forty-square home, so roof value like $60,000. And for $7,000 and some change, she has a certified roof that you’re going to just pass on to a new buyer with a five-year cert and a ten plus year expectation. So in that situation there, saved that homeowner over thirty thousand dollars and all the maintenance that she’s been doing all these years just came home to roost. All of it came home as a blessing.
In the end, you have an asset base called the equity in your home. And I’m always trying to protect that equity for the people who hire me, either the buyers or the sellers. We do charge $300 for a roof certification. But it’s applied to any work that you get. If there isn’t any work that needs to be done, you’re going to get the knowledge of what the roof worth, how long it’s going to last, what’s the expectation, and a detailed issues of the problems. So at least you’re going to walk away with information going, okay, the roof is not certifiable. So I think that it’s a tremendous benefit. The information that I hear back from Roof Life clients and other people that hire Roof Life to do these home certifications, the roof certs, they are ecstatic with the information. It helps them with their strategy and their planning and getting their home sold.
Shayla: So if you are buying or selling your home, make sure you get that real estate certification. Get the knowledge and protect your home equity or your future home equity. If you have questions about anything Patrick talked about, reach out to the team at Roof Life of Oregon today. Thanks, Patrick.