Selling a House After A Flood
Selling a House After A Flood
Flooding is unpredictable and selling a flooded home can be difficult. Anyone who remembers Hurricane Harvey knows the destruction both standing and moving water can bring, even to those far outside the traditional flood plains. When flood damage occurs, it can be devastating to the owner. Are you considering selling a house damaged by groundwater, leaking pipes, or flooding, but yet to know what to do? We have you covered, read on for a comprehensive list of things to do throughout the process.
Whether you have water-stained ceilings or mold from a wet basement, this article has all that you need to know on how to sell a house that has suffered water damage.
Evaluate the Damage
To know whether to repair the house or sell as it is, you will need to evaluate the extent of the damage. You need the help of a flood inspector to assess the damage. In severe flooding, a FEMA inspector will come in handy to ensure that you get disaster relief. However, most flood inspectors come depending on the flood insurance policy. The most important thing is to determine where the damage occurred by cleaning up the mess.
Put together a list of all the items damaged by the flood as you go. Start by removing mud and rinsing surfaces as much as possible. Make sure you remove all the wet furniture and fabric items and leave them out to dry, this includes carpet. Keep in mind that even after these items have dried, they may be far beyond salvaging. If that is the case, add them to the damaged list.
To see the extent of the flood damage and where the waterline hit, you need to scrub everything down. Cleaning things immediately prevents subsequent damages and lets prospective buyers see the property in the right conditions. Keep in mind that the longer the water sits, the further up the wall it will absorb and thus need additional repairs.
Decide to Repair or Sell the House As-is
An inch of water can create damage that brings up the necessity to repair your floor or drywall beyond the waterline fully. Several homeowners have their houses insured, which comes in handy to ensure the house is in condition before selling it. Without an insurance policy, there are more out of pocket expenses. If there are extensive damages, it might take a long time before your house is livable once again.
If you have the patience and resources to wait for repairs to be completed, you may be able to either move back in or sell the property on market. Keep in mind that a flood will be disclosed to the new buyer and may cal for a reduction in price. If you have an issue with time and the budget, you may consider getting a cash sale offer to get over the floods quickly.
Sell Your House After a Flood
Sometimes, you have to take out everything that has been hit by the water and/or remove the subsequent mud. You may not have enough time and resources to fix the house quickly after a flood. Even with repairs, it is challenging to get a full or even close to market value on a damaged house. Frequently, the best solution is to sell it as is and let the professionals remedy the damage. If you want to explore selling the property as is, contact us for a no obligation cash offer.