![]() Once you’ve removed the water, you will have to call your insurance company and get the funds necessary for repairs. You may want to hire a clean-up company to pump out water and get rid of all debris. ![]() To prevent mold growth, dry out the home as best you can and use a strong cleaner with bleach to clean up the areas with the most damage. Toxic mold or black mold is the most dangerous to people’s health. It’s also essential to check for mold and remove any that forms. For instance, you will need to disinfect any regions that the flood water touched. You will need to remove the water and dry out the house. Repairing a flooded home is a complex, arduous process. Another option for you is to consider selling a water-damaged house to a real estate investor or cash buyer. ![]() That can further incentivize the buyer to purchase your home. Next, you should decide whether to transfer your flood insurance policy to the buyer. A FEMA elevation certification outlining the flood zone and home’s lowest point of elevation.A record of the handymen or contractors hired to renovate the home.A list of the repairs done to fix the water damage.The type of paperwork to gather includes: Further, you’ll need to keep track of all documentation. When choosing a home value to attract buyers, you’ll need to stay realistic and reduce the price by as much as 20 or 30 percent. For instance, it’s a good idea to replace carpeting and flooring, repair and repaint the walls, and eliminate any mold. Next, you need to carefully choose the things to fix before selling a house with water damage. The law in New York states that a seller who fails to give a disclosure statement has to pay a $500 penalty fee to the buyer at closing. In the state of New York, the seller needs to disclose whether part of or the entirety of the property is located in a flood plain, along with any flooding issues in the past. As such, you should check out the National Resources Defense Council’s flood risk disclosure laws map. Disclosure laws tend to vary from state to state. You also need to avoid a lawsuit from home buyers by providing full disclosure of water damage. Such a realtor can help you determine the market value of your property and find prospective buyers for your water-damaged house. The first step when selling a flooded home is to contact a top realtor with experience selling houses with water damage. What To Do if You Need To Sell a Flooded Home You can still sell the land and property to a cash buyer who is willing to demolish the uninhabitable home and rebuild the land.īelow, you will learn the steps to take when selling a flooded home. At that point, the home is considered uninhabitable. After two days, mold is likely to set in. If you want to sell your damaged home in its “as is” condition for a cash offer, you will still need to pursue mold remediation or clean up the water issues in 24 to 48 hours. Further, you may be eligible for a grant from the National Flood Insurance Program (NFIP), especially if the flood water is due to natural disasters. Your homeowner’s insurance and flood insurance policy should likely cover the costs of repairs. If the home is uninhabitable, sell the land it sits on.Sell the inhabitable yet flooded house “as is” to a real estate investor.Complete repairs and a remodel before selling.When it comes to home selling, you have three main options, which include: For example, depending on the extent of the damage, your property value may drop by 20 to 30 percent. There are multiple factors to consider if you are thinking about selling your flooded house. Now, let’s get started! Help, I Need To Sell My Flooded Home Keep reading to learn everything you need to know when selling a flood-damaged house. You may want to work with a real estate agent experienced in selling high-risk houses and finding potential buyers for homes in a flood zone. When my house faced water damage, I followed the steps outlined below to sell my flooded home. These include calling the flood insurance company, documenting everything done to handle the water damage, and cleaning up along with renovating the flood-damaged house. New York homeowners who suffered flood damage and are trying to sell their flooded homes will need to follow a few key principles.
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