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Selling a home after water damage can be a daunting prospect. Most home buyers want a turnkey home where they move in and get settled as soon as possible. You can imagine what it takes to make a water-damaged home worth buying for a potential homeowner. While water damage reduces the appeal of your home, it doesn’t mean that you can’t sell it. The solution lies in pulling the right strings early enough.
Water damaged homes – Unsplash
Your home selling options will depend on your budget, timeframe, urgency to sell the home, and of course, the extent of water damage. Besides, there are plenty of buyers actively looking for a fixer-upper. As long as the water damage to your home is manageable, you can attract this demographic. But first things first, you have to do your part.
Here’s what to do if you want to sell your water damaged home:
Move Quickly To Stop Further Damage
Water damage can be quickly devastating to the structural integrity of a home. Charlotte water damage restoration experts note that mold sets in within the first 48 hours of a surface getting wet. The longer you wait to solve water damage issues, the higher the chances of permanent damage developing. If the water source was a leaking pipe, fix it or shut off the main water supply.
Next, start salvaging anything that can be saved. Consider taking clothing, furniture, and boxes out to dry. Ensure that you wash the affected clothes quickly, and send upholstery and carpets to professional cleaners. You should then drain the water from the area. Use dehumidifiers and fans to increase the pace at which the area dries.
If you need to step into a flooded space, wear protective gear, such as masks, quality rubber gloves, and waterproof boots. You never know what dangers could be lurking within the water, from bacteria and chemicals to sharp objects.
Repair What You Can
Water damage is pervasive. It takes a toll on the appeal and functionality of walls, floors, fixtures, and pipes. Regardless of how long you think your home will be in the market, work on fixing all water-damaged areas. One of the best places to start would be painting the walls and floors in neutral colors to make the space appealing to a broader demographic of buyers.
Hire a contractor to inspect the home and give you an estimate on the repairs needed. A reputable contractor will see beyond the obvious damages, which is an essential part of fixing the home. Consider getting multiple assessments from various contractors to leave nothing to chance. Once the home is fixed, have a home inspector look at it.
Don’t Hide the Water Damage
Just because you applied a fresh coat of paint on the damaged surface doesn’t negate the need to disclose your home’s water-damage history. Buyers and their lenders typically hire home inspectors to assess a home before purchase. Once they find out that you omitted this crucial piece of information, your deal might go sour.
While the deal may be off, the worst-case scenario is that you may have a legal issue to deal with. This situation could get even worse if the buyer were to discover unrepaired damages post-sale. The safest choice is to disclose the damages upfront.
Selling Your Home As-Is
If you do not have the budget or time to fix your water-damaged home, there is always the option of selling it as-is. The downside is that it will be an uphill task to get a buyer, let alone a real estate agent, interested in the home – it isn’t impossible, though. A great option would be to work with investing companies willing to take the home off your hands. Most of these companies offer fair cash for damaged homes, which they can renovate before selling.
Your water-damaged home will eventually find a buyer. It all trickles down to the kind of demographic you appeal to. Consider your options to decide whether it would be better to sell the home as-is or fix the damages first.