- April 11, 2022
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Regardless of the reason your house has sustained significant water damage, be it due to a flood or a burst pipe, you may be wondering whether it’s possible to sell your house as is. The short answer is yes, however, this can limit the options available to you. That’s not to say that selling your house as is isn’t a good choice for some people. In this article, we share with you three options for selling a house with water damage.
Selling Through a Real Estate Agent
This is the first option that comes to mind for selling a house, and you will need to get a realtor on your side. Because they take a commission when your home sells, you can be sure they will work hard to present your home in an attractive light. In this sense, they will help you fix an asking price that’s not too low to be unreasonable or too high to be dismissed by buyers.
Keep in mind that with this option, you will have to fix the water damage in your property before closing, and potential buyers may have higher demands because your home was previously water damaged. For instance, instead of simply getting the problematic pipe fixed, they may insist that you get new piping for the entire house. If you have the luxury of time to wait and don’t mind spending on repairs, selling through a real estate agent can be a good choice.
Selling It Yourself
Most homeowners typically avoid selling a house themselves, regardless of whether it has been water damaged. Besides conducting the necessary repairs, you will have to take care of staging, negotiating with buyers, and handling all the paperwork that comes with transferring homeownership.
Of course, the best part about this option is that you can keep the full profit from selling your home, but you have to handle everything yourself, from taking photographs to arranging viewings. In addition, just because you have conducted the repairs to make your home habitable doesn’t mean you can hide its history. Failing to disclose that it had previously been water damaged can result in legal issues down the road.
Selling to a Cash Buyer
Selling to a real estate investor like Modern Feather Properties can be a great choice if you simply don’t have the time or money to spend on repairing your home. As cash buyers are not emotionally invested in the property like prospective homeowners are, they won’t dismiss your property due to the presence of a problem, such as mold growth. Instead, what they will do is calculate the cost of mold remediation and take that into account when making you a cash offer. Another compelling reason to sell to a cash buyer is if you have an urgent need for cash or need to get your water-damaged house off your hands quickly for various reasons, such as if you are relocating soon.