Did your house get flooded, and you are looking to move to a better property? Even if you received compensation from your insurance company, it can feel impossible to repair your home.
When I tried to sell my flooded home, I followed several important steps that addressed the flooding. I also worked with a real estate agent to ensure everything went smoothly. First, it is vital to repair the areas with the biggest water damage.
Renovations are also important, such as putting in new carpeting and performing mold remediation. You’ll also want to add dehumidifiers and tell the full story to potential home buyers. These are the typical steps I took to sell my flooded home.
Keep reading to learn all about selling a flooded house to potential buyers.
Can You Sell a House That’s Flooded?
I’m not the only one who wants to sell my flooded home. Up to 15 million homes in the United States are at risk of flooding and many of these are in a floodplain or a flood zone.
With the help of a real estate agent, you can sell a house with water damage at flood risk. A realtor with experience selling flooded homes can help you price the house well. Depending on the market value of your home, you may also want to consider selling the property to a real estate investor.
You will want to take quick action after flooding as well. Flood water addressed immediately can help you minimize damage and help you sell the house at a better price.
How Do You Sell a House That’s Flooded?
Flooded houses are not easy to sell and natural disasters like Hurricane Harvey have left many families devastated. If you’re not sure how to sell a home in a floodplain with flood water damage, then you’ll need to work with a realtor to see if you want to repair the damage or sell your house as-is to an investor.
First, you’ll need to get a flood inspector to evaluate the damage and how extensive it is for a home sale. Now, you’ll want to decide whether to repair the home or sell it as-is. You may need to renovate the floors and the drywall if the damage is extensive. If you’d like to make the most from the sale, then you should repair the flooded parts of the home right away.
The steps you’ll need to take to sell a flooded home include:
- Making an insurance claim with your homeowner’s insurance
- Repair flooded parts and make flooding renovations
- Make sure to be upfront with possible home buyers
- Document all your repairs and flood damage
- Add dehumidifiers and dehumidify your residence
Immediately Repair the Flooded Parts of Your House
If your home was flooded a few hours or a few days ago, you’ll need to quickly start repairing the flooded parts. Make sure to turn off the power and protect your valuables, such as removing wooden furniture from flooded floors.
Before you even start the repairs, make sure to document all damage. Water damage restoration needs to happen one or two days after you’ve been allowed to re-enter your home.
You may need a restoration service company to help remove the drywall, insulation, and flooring to stop any mold from moving throughout the house. Water can damage hardwood floors the most, so quick repairs are necessary.
Making Flooding Renovations
What will the home value of your flooded house end up before or after renovations? You can ask a realtor for more information about pricing your home. Usually, flooding renovations will improve the final price. You can also sell the property as-is to a cash buyer offering a fair cash offer if you don’t want the hassle of renovating your home.
Once the immediately flooded parts are repaired, you will want to look through the home to see what should get restored after water damage. You’ll want to identify mold and remove your things from water to dry them off before the mold spreads.
Get a professional to examine any mold damage. Lastly, you may need to remove damaged flooring and walls and renovate with the help of professional carpenters.
Be Honest With Potential House Buyers
It’s always a good idea to provide full disclosure and remain completely honest with possible home buyers who come to look at your flooded house. Even if you have undergone full repairs and renovations before selling the property, it is essential to let your buyers know about past flooding damage.
Even if your house looks brand new and shows no sign of flooding damage, you need to disclose these issues, or else you may get into legal trouble during the home sale. Real estate disclosure laws do vary across states, but realtors advise staying honest with potential buyers.
Document Damage and Repairs
When selling a house that has undergone flooding damage, you need to document all of the damage and track all the repairs done. Don’t lose a single receipt and keep all reports from inspectors and carpenters.
You’ll need to have all of your insurance claims in one spot and you may need a mold remediation certificate showing that you removed all mold. You will also need a FEMA elevation certificate outlining whether the property is in a flood zone as well as its elevation level.
Make sure to keep a record of all invoices and work that was done on the house. That is all necessary information for future home buyers.
Dehumidify Your House
One of the last steps after renovating your home is to dehumidify the property and every room in the house. A humid home after flooding makes it easier for dust mites, microbes, and mold to continue growing.
To make sure your family and future residents of the home don’t get sick, you’ll need to remove mold and dehumidify your residence. Some natural ways to dehumidify your home include:
- Add pots of calcium chloride to quickly reduce humidity levels and absorb the moisture
- Improve ventilation in the home
- Take the plants out of the house since they release moisture
- Fix any leaky pipes
- Add a solar air heater
Will You Have to Take a Price Hit on Your House?
The simplest ways to increase your home’s value if it has undergone flooding damage is to remove mold, repair water damage, and renovate the property. Nonetheless, flood damage, as well as a home located in a flood zone, can decrease the value of the house within the real estate market.
The issues for the lower price relate to the risk of mold and the potential for an overall weaker structure of the damaged home. You will likely take a price hit during the sale even if you’ve renovated.
For instance, after Hurricane Harvey, many flooded homes saw a price decrease of up to 60 percent. Also, if your home is even close to a flood zone, the property is likely to have a decrease in value. However, research does show that a previously flooded home may see a drop in value that is only temporary.
Conclusion
In Idaho, real estate investors did buy my house in Boise for a fair cash offer after a flood. If you’re selling a house with foundation problems or water damage in its current condition, you should seek real estate investors and cash home buyers Meridian.
If you want to avoid the hassle of renovations, you can sell your property directly to real estate investors for cash. You’ll be glad to learn that we buy homes in Idaho even after a flood.