How to Sell a Flooded House
Need Advice on How To Sell A Flooded House?
If your home has suffered even just a few inches of water damage from a flood or a broken pipe, you may be looking to relocate and cut your losses. Water damage repairs tend to be costly, entail more than just what you can see on the surface and take a considerable amount of time to remedy. If you need advice on how to sell a flooded house, there are a few important tips to follow to find the right buyer.
Find a Real Estate Investor
When you’re selling a flooded house the simplest option is to find and work with a local real estate investor like Flash Realty Solutions. Investors buy properties as-is meaning you can leave the property as-is. Investors like Flash will not ask for an option period or inspection and do not require an appraisal to close. Best part an investor can usually close quickly and get the cash in your hands to buy another home.
Hire a Real Estate Agent
Consider hiring a realtor to help you market and sell your home because they’re useful for facilitating negotiations with the other party. They’ll understand the market in the local area and can help you market the home correctly to make it more desirable.
Moreover, they’ll know how to list your home correctly to avoid turning buyers away. Make sure you are open about the condition and damage, and keep in mind that the property may not pass an inspection. Look for a cash buyer to mitigate any loan issues that may arise.
Disclose the Damage
The flooding damage on the property needs to be disclosed in writing to the prospective buyer to ensure they’re informed of the current condition of the home. Research what details you need to include, which varies depending on the state where you live.
Putting everything in writing and providing full disclosure can prevent the buyer from suing you after the transition is completed.
Sell the Home Yourself
You can also consider selling a flooded house without the help of a real estate professional to save on commission fees. You’ll need to research the current state of the market and understand different details to ensure you price it correctly.
Understand that it can take a while to sell the property, and it may sit on the market for several months because of the water damage. You need to protect yourself by obtaining the right disclosure and release paper, which you’ll need to fill out and sign with your buyer.
When selling the home on your own, you’ll also need to be prepared to explain the listing price to the buyer to justify it.
Contact us at your convenience to get a no-obligation quote for a cash offer on your home. We can purchase your home quickly and make it a smooth and efficient transaction.