How to Sell Your Flood Damaged Home in Katy
Harvey was a nightmare, but if you were flooded out and are dealing with a flood damaged home, there is hope.
Have a Katy property with water damage? How do you sell your flood damaged home fast and for the most money?
Water damage is a common issue for homeowners, especially here in Katy and Houston. With increasing hurricanes, storms and flooding it may just keep getting worse too. It can be very stressful, heartbreaking and financially disastrous. Especially without taking quick action.
Whether your home was hit with a flash flood, the result of rising sea levels and erosion, leaks from frozen pipes, a cracked basement, roof leak or water damage from a neighboring unit, owners really need to get a handle on the dangers of delaying, and how they might be able to sell their homes quickly and save their futures.
The Dangers of Holding on to Your Damaged Home
If your home has flood or water damage you have to be realistic about how long it can take to get insurance payouts. It can take a while. Maybe even years. You’ll probably get less than you hoped for. In the meantime your home is going to continue to degrade and devalue. If you try to stick it out, you can wind up with a home that is worth a lot less than when the damage first happened. All the while you are bleeding money on mortgage payments, interest, property taxes and insurance premiums and utilities. You may also be hit with violations, fines and liens from the city. You could lose your home or end up owing thousands more if you don’t fix it or sell it quickly. You may also have to be paying for somewhere else to stay in the meantime. Or face dangers like toxic mold and electrical hazards in the home.
Can I Sell My Flood Damaged Home?
Yes. You can theoretically sell any home in any condition. If you wait too long you may find your home gets condemned and is foreclosed on, or the bills and liens get so big that it is worth far less than what is owed. Still, whether you just have a leak, a basement full of water, or knee high mud throughout the house, there can be buyers. Often it is just smarter to sell it and walk away from the mess and start fresh. No one tries to invest money in fixing up a totalled car before they call the tow truck to haul it away and going to buy a new one, right? It doesn’t make much sense to gamble or go broke on attempted fixes on a home either.
Who Will Buy Flood Damaged Homes?
Who can you sell to, and who would consider buying a flood damaged home. Your city, county or state may be willing to buy your home through eminent domain. That’s a form of seizure in order to clear areas and prevent rebuilding on land which is going to be hit with ongoing disasters. Don’t expect them to give you much though. Some desperate individuals might be willing to gamble on trying to buy a home like this and fix it up for themselves to live in. Often they don’t have the experience or the funds to do it well. That can become a big risk if they try to blame you in court later.
The best and most qualified buyers of flood damaged homes are professional real estate investors who can pay cash. They know what to look for, what it will take to fix or teardown the property, and will often buy it just as it is for cash, and can close in a few days.
The Challenges of Selling a Flood Damaged Home
There can be challenges with trying to sell a home like this. Most Realtors won’t want to list it as is. It won’t be easy for them to sell. It won’t qualify for mortgage financing, meaning you need a cash buyer. You need a buyer who can close very quickly before more damage builds up, or neighbors with damage sell cheap and bring down the value of your home even further, or the market simply changes and makes it unappealing to buy. If you drag your feet too long and interest rates go up, your insurance payout and buying power may start declining too.
Get Cash Offers for Your Flood Damaged Home
Don’t worry, you can get cash offers for your home right now, today. Just contact us at 1-800-Sell-Now to take to Jacob Saldana and the team at Integrity Housing Solution who buy flood damaged home. Some may be able to get out and take action now.
Do be realistic about how much you can get. Someone is going to have to deal with the clean up or rebuilding. Still, that’s better than waiting for damage and other low sales to show up, insurance rates to explode and to wind up getting less. The sooner you get offers and sell, the more you can get. You might even get more cash than you think. You may still be able to make a claim with FEMA and your insurance company as well, and get enough to cover buying or building a new home somewhere less risky.