Should I Repair Or
Sell My Flooded House?
If you are reading this then I will assume that you or someone you know has been affected by Harvey. Let me tell you I’m sorry that you are going through this, I don’t think anyone was prepared for what happened, it was flood of biblical proportions. I know how it feels, we had 2 of our houses affected by the floods, and like many Houstonians we did not have flood insurance, we didn’t have to, it had never flooded. This is why I decided to put this post up so you can evaluate whether it makes sense to sell your property “As Is”, fix it up and resell it later, or simply just stay there.
So should you repair or sell the property? Well lets consider the following. Repairs can be very extensive, depending on how much water got in the house. There is the whole drying out process which is very important to minimize the damage that can occur to the property, and to help prevent mold and other serious issues. If you are considering selling the property after the repairs, then you will have to disclose the fact that it has flooded, and buyers will be hesitant to purchase flooded homes. We have bought, fixed up and sold dozens of flooded homes in the past and we have seen the resale value drop from 10-20 percent. So your flooded home, at least for the couple of years, will be worth 10-20% less than what it was pre-flood. This is an unfortunate thing but very real.
We have bought homes in this same condition, and we have crews set up to handle this type of renovation, also we don’t mind giving the house the time it needs to dry out, and get a certificate from an inspector to confirm the house has been completely dry and mold free. We will also begin the renovations, which as you may be aware will be costly and time consuming.
I am ready to give you a Guaranteed Fair Cash Offer on you house. You won’t have to worry about any of the things below
- REPAIRS: We will buy the house in its current state.
- CLEANING: You don’t have to clean anything!
- NO COMMISSIONS or FEES: You pay no realtor commissions or fees of any kind.
- INSURANCE: We can buy your house even if you have a pending claim.
- MORTGAGE, TAXES & HOA FEES: We make sure all these items get paid off so your record is clear.
This is why we are offering to buy your property in “As-Is” condition. I will come out, determine the damage you have sustained, and make you a cash offer on the property with out you having to do any repairs, and understanding that it has flooded. If you are getting any insurance or FEMA money, you will be able to keep that ( minus any liens like mortgage or taxes that you may owe on the property) to be able to move on to another home. Whether that is a purchase of another home, or to rent something in the mean time. So to be clear you can take the insurance/FEMA pay out and our funds and be able to move past this painful episode in your life and start fresh, with out the stress that having to renovate and then try to sell the property will bring.
If you decide to take our offer, we will handle all the paperwork so you will not have to pay any commissions. We will use a title company and pay all closing costs associated with the sale. We understand that you cannot sell until the you have received your insurance/FEMA check, so will set the closing to accommodate that, and help you close this chapter in your life and move on. In some cases we can even help get you an allowance to pay for moving costs.