Can You Sell a Flood-Damaged House?

Can you sell a house that has been flooded? When your home sustains flood damage, the property value impact can be significant. Any water damage can affect how many buyers show interest in the property, so you might need a different approach.

Have you been searching for ways to “sell my house fast in Memphis?” Alan of Pyramid Properties shares that cash homebuyers are often a better option than spending money on water damage restoration. Learn why below.

The Steps You Might Need To Take After a Flood

Were you already selling your home when a flood struck? You may have to put the sales process on hold, make an insurance claim, and hope the payout covers the necessary repairs.

What if your home insurance policies don’t include flood protection because you didn’t purchase it separately? If you live in a flood plain, your next option might be to apply for help through a government-subsidized insurance program. Still, even if you’re successful, water damage after a flood can mean a drawn-out claims process. 

Some contractors refuse to start the repairs until you have the insurance payout in hand. If insurance initially denies your claim, that could mean you pay out of pocket before putting your house back on the market.

The Hassle of Trying To Sell a Home With Flood Damage

Can you sell a house that has been flooded when you need the sale to go quickly? 

Trying Traditional Real Estate Options

After a flood, using a real estate agent via a normal listing process can be extremely challenging. The repair and inspection process can take anywhere from a few weeks to several months, depending on the level of damage. 

Sellers should also disclose the flooding problems, even though doing so may limit the number of willing homebuyers. You can understand why some real estate agents refuse to list flood-damaged properties with these kinds of potential hassles involved in the process.

Using an Alternative As-Is Selling Process

If you don’t have the money or time to deal with fixing a house that has flood damage, investigating as-is cash buyers is worth it. An as-is cash homebuyer doesn’t require repairs to the property and, regardless of the level of damage, will make an offer. Since this type of homebuyer completes the process quickly and offers cash, you don’t have to worry about anyone withdrawing the offer due to flood damage. 

Call Alan at Pyramid Properties Today If You Need To Sell a Flood-Damaged House Fast in the Memphis Area 

Can you sell a house that has been flooded? How do the flood disclosure requirements affect real estate agent expectations? You might have to spend time and money on repairs before an agent will list the flood-damaged home, especially with water in the crawl space, complex insurance claims, and potentially expensive mold remediation. 

Alan at Pyramid Properties specializes in buying Memphis homes as-is. Remove the hassle of trying to fix your damaged home – call Alan today at (901) 504-5555 for a fast cash offer.

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