Tips For Selling A House After It Has Been Damaged In A Storm
Dealing with a house that has been damaged in a storm can be devastating and frustrating, not only do you have to tackle the damage and deal with the loss of valuables, but you’ll also have to face the emotional scars. Whether you want to relocate after a storm or it was just about time for you to move to reconsider your investments, there are factors to consider for your house sale.
While the supply for homes keeps increasing throughout the country, house prices keep on declining in many regions. Even people selling houses in perfect conditions can’t also make the sale. And this doesn’t help when you are already dealing with a damaged home. So, how do you make sure that make a great sale in a buyer’s market? How do you attract buyers? How do you improve your home’s value for a great deal? How do you make sure that your house doesn’t languish with barely any offers? Here’s a look at tips from real estate experts on how to sell your home after it has been damaged in a storm.
Focus On Repairs
When you are selling a damaged house, the price might fall so far and so fast, and you can end up barely eking out any profit. Therefore, to make sure that you are not left hanging high and dry, it is imperative that you consider making repairs. Often, the damage caused after a storm can be severe and repairing everything can be too costly. When dealing with severe damage, it would be wise to consider only fixing specific areas such as the roof and the landscape. Whether you are selling a new house or a house damaged after a storm, you must show the yard, interior, deck and everything else in the best possible light – repairs make that possible. That means you’ll have to work on both the interior and the outdoors, and if possible get rid of any signs that there was ever any damage to your house. When a buyer sees new hardware and paint job, chances are they will be impressed and make a purchase. That first impression from curb appeal can often make or break the sale.
Get A Pre-Sale Inspection
Sellers, especially those selling their houses on special circumstances such as an old house, or a damaged house that needs repairs are strongly advised to make sure they get a pre-sale house inspection. You might not like what the inspection report might look like, but it will put your mind into perspective when you realize the kind of repairs you need to make. A house inspection will provide a detailed and clear picture of all the repairs. Of course, if the repairs are manageable, especially those that are messy, it would be wise to make the repairs before you list your house. On the other hand, if you stand to make a profit without making the repairs, then you can opt to use the house inspection report to your advantage during the sale.
Offer A Reasonable Price
The price is a significant factor in selling a house that has been damaged after a storm. The trick behind selling your house for a great price is to think like a home buyer. What price would you be willing to offer for the house you are selling? It’s essential that you put yourself in the buyer’s shoes to help you come up with a reasonable and realistic price for your house. Price your home right, and you’ll make a quick sale – price it wrong, and you’ll end up with a creepy old house.
Considering that your house was damaged during a storm, set the price as what you can salvage. After all, you’re in the buyer’s turf, and it doesn’t matter what you think it’s worth – the determining factor is what the buyer thinks your house is worth. With that in mind, it’s imperative that you price your home reasonably to attracted the already limited buyers.
Research Local Market
Are you a resident of the area? Or did you have an investment house in the region? Chances are your house wasn’t the only one that was damaged during the storm. To come up with the best selling price for your damaged home, research on comparable houses for sale in your area as well as other neighborhoods. Look at local listings for houses damaged by storms in your area for the last six months. Comparing what you are dealing with to a comprehensive market analysis puts you in a better position when selling your house.
When dealing with a damaged house, it is easy to get lost and end up selling your home for pennies. To help bring a new perspective and shine a new light to your situation, consider hiring a reputable realtor to help with the sale. Houses are a considerable investment and often the most significant asset for many people. Therefore, it would help to have an experienced and professional party on hand to protect your interests.
In a situation where you simply can’t afford to make the repairs needed and you don’t have coverage for the home, you may seriously consider working with a real estate investor company such as Express Houston Home Buyer (https://expresshoustonhomebuyer.com). What these investor companies will do is assess the property and the structure, then make a cash offer on the home. In most cases, that offer is going to be much less than what you’d get at market value, but if sitting on the property without being able to live in it or make the repairs is going to take months or even years, then it would be more cost effective to get out from under your mortgage so you can live elsewhere. These home buyer companies are investors, so they don’t need you to make the repairs. They make the repairs and put it back on the market for a profit.
When considering your options, think about your long-term future. The challenge most homeowners face after storm damage is making a decision based on the financials rather than emotional attachment to a property. Don’t fall into this trap, as you might be able to get out from your “hell on earth” scenario faster.
If your home has been flooded and now has mold, you can check out this video for things you can do immediately after: