The United States suffers from over $8.2 billion of damage from homes flooding every year.
But somehow, some of those affected homeowners are still able to sell their houses and move to a new location.
If you’re trying to figure out how to sell a flood-damaged house, we’ve put together this guide that’ll teach you how to attract buyers and make some money.
Keep reading below.
Do Your Best to Minimize the Damage
The first 48 hours after your house has flooded are crucial. They can make the difference between minimal and serious water damage.
So before you start thinking about how to sell your flood-damaged home, you should do your best to minimize the water damage while you can.
Here’s a quick checklist that’ll help you keep your house in the best condition possible after a flood.
Create a List of Damaged Property
The first thing you should do is put together a list that contains all of your damaged property. If your entire house flooded, this might be a long list. If a single room flooded, the list might be quick and short.
Take Photos of the Damage
Spend some time photographing any water damage inside the home. This can include walls and floors as well as personal belongings. No matter how small the damage is, make sure you document it.
Call Your Insurance Company
Your insurance company might be able to help repair and restore some of the damages. This can make a big difference later when you’re trying to sell your house.
Wear Industrial-Quality Gloves
The flood water might have contained harmful contaminants and materials, especially if it came from the sewer. Before you touch anything that came in contact with flood water, make sure you’re wearing industrial-quality gloves.
Remove Anything That Holds Water from the House
This can include things like fabric, mattresses, furniture, bedding, clothing, etc. Do not throw these items away. Get them out of the house as quickly as possible. This will lower the change of mold growth inside the home.
Turn on a Humidifier
If the flood water receded quickly, you might be able to save your wood floors. Turn on a humidifier (or several if you have more than one) and set them out over your floors. Keep these running until the wood is completely dry.
Remove and Replace Drywall
Because drywall takes a long time to dry, it has a high chance of molding. If you want to keep your house in the best condition, remove and replace any drywall that touched the flood waters.
Work as Fast as Possible to Avoid Mold
It only takes mold 48 hours to germinate. Turn on fans and dehumidifiers to help dry out floors, walls, and other surfaces. Clean anything that contacted the flood water with non-ammonia detergent and a 10% bleach solution.
And remember to protect yourself.
Wear boots, gloves, and a face mask to ensure you aren’t introduced to harmful contaminants.
Decide to Make Repairs or Sell As-Is
If you take care of the floor problem quickly enough, sometimes you’re only left with minor repairs. But sometimes it can seem like the entire house needs to be fixed.
That’s why you have to decide if you should make the repairs before selling or sell the house as-is.
Here are a few pros and cons of each option.
Repairing Water Damaged Areas
If you have the resources and the time to make the repairs before you sell, you can get more money when you sell.
But this process often involves hiring contractors and finding a new place to live while they fix the water damaged areas. That means you have to spend a lot of other out-of-pocket expenses.
On top of that, you’ll have to put a lot of effort into making sure your buyers feel comfortable and confident in the house. This means hiring professional inspectors and repairing even the smallest damages.
Doing all this might not be worth the investment.
If you don’t have the time or money to fix the repairs, you can still sell your house as-is, water damaged and all. But you won’t get as much money for the house.
In most cases, you’ll have to find an investor who’s willing to give you a cash sale offer. This will help you get out of your house and find a new home quickly.
The best part about it is you won’t have to do a thing. That means you can save all that money you would have spent on repairs and professional inspectors.
Selling to an investor is one of the best options for a water damaged house.
Don’t Hide Water Damage!
Whatever you do, don’t try to hide the water damage.
Whether you’re selling to an interested buyer or an investor, you shouldn’t do this. When you’re selling your home, you’re legally required to disclose any water damage.
Water can introduce harmful materials into the home and can lead to mold growth in the future.
If you try to cover up the water damage, you can find yourself in court. Do yourself a favor and let any buyer know about the water damage in your home.
How to Sell a Flood-Damaged House
If you’re trying to figure out how to sell a flood-damaged house, you have two different options: making repairs before you sell or selling as-is.
If you have the money to make repairs, you can fetch a higher price on the market. But this investment isn’t always worth the cost. It’s often a better choice to sell your water damaged home to an investor instead.
An investor will pay you cash without requiring you to fix anything. Think this sounds like a good choice for you?