Has your beloved house been struck by a flood recently and you are thinking of selling it? Floods can be catastrophic and can heavily damage your house. It may even be expensive to repair and renovate. However, if you want to sell a flood-damaged house, it is certainly possible! It can be a complex process but there are a few key steps that you can follow to ensure the best outcome for your flood-damaged house. Keep on reading to find out what to do when you want to sell a flood-damaged house!
Assess the Damage
The first thing you may want to do is assess to what extent is the flood’s impact. You may need to evaluate the visible and hidden damages. Inspect the interior and look for any signs of water damage such as mold, mildew, and even the warping of floors and walls. You may also want to check for electrical and plumbing systems and look for potential hazards. You should also assess the condition of the house and see which appliances and furniture were damaged by the flood. Additionally, you can review your insurance coverage and determine which repairs and renovations are covered.
Give a Realistic and Reasonable Price
To prepare your home for selling, you need to give a realistic and reasonable price. Pricing a flood-damaged house can be tricky but you must avoid overpricing at all costs. You can determine the price by knowing your market and researching comparable properties in your area. Ensure that you give the best price considering the flood history but also take into account any incentives and upgrades you made.
Disclose the Flood History
You are legally required to tell your potential buyers about the flood history of your house. Failure to disclose it can result in a violation of consumer protection laws. Therefore, being transparent with your potential buyers is important. Ethically wise, you are responsible to tell your potential buyers for health and safety reasons. Additionally, this builds trust between you and your buyers which can lead to getting the best price for your flood-damaged house.
Hire a Real Estate Agent
Consider hiring a real estate agent as they come with many advantages. A real estate agent has an in-depth knowledge of the local estate market and they can help you price your flood-damaged house realistically. They also come with negotiating skills and get you the best deal out there. Furthermore, they have both legal and marketing expertise that you will need when you sell your property. They also have a wide network of professionals such as inspectors and contractors that can assist you in your sale.
You may now want to sell your house quickly by doing the steps above despite the flooding history. There are potential buyers out there who are in search of getting reasonable houses and have the means to repair and renovate the catastrophic impact of floodwater. Are you in need of help in selling your flood-damaged house? Contact us at Simple House Buyers and we will be more than happy to assist you.