Published on June 4th, 2023
How To Sell My Storm Damaged House In Florida
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Natural disasters, hurricanes, storm damage, strong winds, and flood damage to your house can happen to any homeowner, especially in areas prone to flooding. Mold and other issues can arise in older homes affected by these events. Sometimes the damaged property is unfixable and needs major repairs. If you were planning to sell your home, making repairs to your house might be the only option you have to obtain a reasonable offer and maintain your property value.
Throughout the course of this article, we will discuss how you can deal with the insurance company, assess the damage, make needed repairs, and find real estate experts experienced in selling previously damaged or totally damaged homes. With a lot of things to consider and many details to be aware of, everything needed to ensure a smooth transaction with potential clients will be covered.
Starting The Process Of An Insurance Claim In Florida
If your homeowner's insurance policy covers water damage due to flooding, for instance, and you experienced flood damage, you will want to reach out to your insurance company as soon as you are able to will help you get through the process of restoring your home and finances as soon as possible. Below are the steps you will need to take when working with an insurance company.
- Call your insurance company
- Schedule a time for the insurance adjuster to visit your home to review the damage
- Follow up with your claim throughout the process to check on the status
- Provide photos and any needed documentation needed to speed up the process
Once your insurance claim is approved, you will be able to repair your home with the money that the insurance company provides to you. Understanding your options in these situations is crucial to making the best decision for your life and the affected area.
Decide If You Are Going To Sell Your Property As Is In Florida
Selling your home as is for a fair price will attract real estate investors ready and willing to take on the challenge of major damage to your house. Damage caused by storms can affect your roof, exterior, and in some cases, the overall structure of your home. Hard work is needed to fix these damages, and in many cases, severe damage will cause the projected price of your home to decline in the future.
If you’re up to the challenge of dealing with repairs the right way with trusted professionals, you will be able to sell your home. Insurance claims take time, and if your home experiences major damage, you might want to consider selling your house to a real estate investor. Investors even buy fire-damaged homes.
Speaking with local real estate agents regarding the current state of the local market and how many cash buyers or developers might be available to purchase a damaged house. Setting a reasonable price will attract more potential buyers as they comb through local listings for a new house to repair and flip for a profit.
Selling your house to a cash buyer is great if you can't make the needed repairs that most homeowners will be looking for, since "flippers" are willing to take on the cost associated with the repairs and can afford to do so and might have a crew ready to do the work. Finding the right buyer to purchase your house with a cash offer could take some time, and you can expect to get less money with a lower profit and selling price for your home if you sell in an “as-is” condition.
Making The Repairs To Your Storm Damaged House In Florida
While you might find yourself in the unfortunate situation of dealing with storm damage or some other damage to your home, in most cases, you will be able to make all the repairs needed to begin the selling process. Connecting with contractors and other licensed professionals that offer a free quote for repairs can help you line up the contractors you need to make the repairs. When making these repairs, make sure you are putting all receipts and documentation of the work in a safe and secure location to provide the buyer with during the sale process.
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Being Transparent With Buyers
When buyers are looking at properties, they will undoubtedly do their due diligence so they can be confident in their investment. Local laws make it your legal obligation to disclose all the facts to your real estate agent and potential buyers regarding major repairs that might be needed due to a storm.
Even if you think you can hide this information, you might be hard-pressed to do so and face legal ramifications. There might be news stories about the storm damage in your neighborhood and houses in it or other neighborhoods nearby. Being honest the first time is always the best choice, especially when dealing with home buyers.
Buyers, such as those in search of mortgage approval from companies, want to know what they are dealing with and the cost of any future repairs that might happen in the near future - and who can blame them. One reason they might be particularly interested is to avoid surprises during the mortgage process. Putting yourself in their shoes and understanding how they will want to be treated can make this situation more manageable and as stress-free as possible.
Moving On And Starting Over
While going through a natural disaster or major storm can be challenging mentally, physically, and financially, you will come out on the other side a better person with new goals in mind. After you sell your house and move to a new neighborhood or even a new state, you will look back at this situation and be confident that you made the right choices along the way.
Partnering with trusted local professionals is easily the most vital decision you will make from the insurance agency to the contractor if you choose to use one, to the real estate agent who helps you through the closing process. If you are wondering where to start in selling your storm-damaged home, you can reach out to us at the link below. Our dedicated team of professional agents has years of experience and knowledge to guide you through this difficult process. We look forward to working with you and helping you find the rainbow on the other side of the storm.
Recent Facts
1. After a hurricane, homeowners may find that their property has been damaged and need to sell their home.
2. Depending on the severity of the hurricane, the damage can range from minor to severe.
3. Homeowners may need to sell their home quickly in order to cover the cost of repairs or to relocate to a safer area.
4. Selling a hurricane damaged home can be a complex process, as it requires the homeowner to disclose the damage to potential buyers.
5. Homeowners should be aware of local and state laws regarding the sale of hurricane damaged homes.
6. In some cases, a homeowner may be able to receive financial assistance from the government to help cover the cost of repairs.
7. Homeowners should also be aware of any potential safety hazards that may be present due to the hurricane damage.
8. Homeowners may need to hire a professional inspector to assess the damage and provide an estimate of the cost of repairs.
Recent Statistics
1. In the United States, an estimated 6.5 million homes were damaged by hurricanes between the years of 2000 and 2017 (Source: National Hurricane Center).
2. In 2017, Hurricanes Harvey, Irma, and Maria caused an estimated $265 billion in damages to homes in the United States (Source: NOAA).
3. The median cost of repairing hurricane damage to a single-family home is $7,000 (Source: Insurance Information Institute).
4. Approximately 25% of homeowners who experienced hurricane damage did not have insurance coverage (Source: Insurance Information Institute).
5. In 2017, the average cost of a hurricane claim was $17,000 (Source: Insurance Information Institute).
6. The average time to repair hurricane damage to a single-family home is 4-6 weeks (Source: Insurance Information Institute).
Chris Charles
Author | Real Estate Investor & Realtor
My name is Chris, and my team and I buy all sorts of houses in Florida. We are a local, family-run business committed to the highest standards of quality and integrity.
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