How to Sell a House with Water Damage
2021 was a banner year for natural disasters.The National Oceanic and Atmospheric Administration (NOAA) reported that 20 major natural disasters, costing a total of $145 billion hit the United States last year. Nearly 90 percent of all natural disasters involved water - flooding, hurricanes, and severe weather. For homeowners, these disasters can cause instant financial hardship.
If your house has been damaged by water, you may decide to sell the property instead of fixing the house. However, if you try to sell your damaged house fast, you may have difficulty finding a buyer. Your house may not compete with move-in ready houses unaffected by a natural disaster. Fortunately, there is a way to sell your damaged house as-is for cash.
How Can I Sell a Damaged House?
The best way to sell your damaged property after a natural disaster is to sell your house as-is for cash to a company that buys houses. This type of real estate transaction is a cash home sale.
The process of selling your damaged house to a house-buying company is simple.
- Contact a local home buyer in your area - they may contact you.
- Discuss your house and your reason for selling.
- The buyer assesses your property and decides to make a cash offer.
- Accept the cash home offer and agree on the sale terms and conditions.
- Close the sale, sign the paperwork, and get paid.
How Is it Possible to Sell a House Damaged by Water?
A common question that sellers ask is, “How is it possible to sell my damaged house fast?”
The answer: You sell your house as-is.
- You make no repairs.
- You make no upgrades or home improvements.
- You do not have to schedule an inspection.
- The buyer accepts full responsibility for any problems with the house.
If you were to attempt a traditional sale - i.e., hire a real estate agent and list your house on the market - most buyers would either ignore your house or require repairs before selling it. They may also try to take advantage of your situation by lowballing you with an unreasonable offer. When you sell your house to a home buyer, you can get a fair cash offer without making any improvements to the house.
Is it Legal to Sell a Damaged House?
Yes, it is legal to sell a damaged house.
However, there is one condition. You and the buyer must agree on the terms of the sale. You may need to get the terms in writing to avoid legal problems down the road. If the buyer agrees to buy the house as-is regardless of its current condition, you can legally sell the house.
The main thing to remember is that you need to remove yourself from any legal liabilities in case someone has an injury after stepping on the property. Injuries are common after a natural disaster. So, make sure you get a written agreement from the buyer before agreeing to sell your house as-is for cash.
We Buy Damaged Houses As-Is for Cash
If you have a damaged house and you can’t find a buyer or want to avoid a traditional home sale, contact Local Guy Buys Houses. We buy houses as-is for cash. We can appraise your property and make a fair cash offer. You don’t have to spend thousands of dollars on home repairs. Sell your house as-is to us instead. Call 855-205-5999 to get a fast cash offer.