Floods are unpredictable natural disasters that can wreak havoc in a far larger area they hit. One study found that about 25% of America’s infrastructure is threatened by flood damage.
Of this, about 1.2 million homes are likely to be impacted in the next three decades. Sarasota County has about 32% of its properties at flood risk. Suppose your Sarasota home is damaged by a flood, dealing with the restoration and repairs. Your insurance may not cover it completely.
Therefore, experts recommend selling the house quickly after a flood hits it. Wondering who will want to purchase a flood-damaged house? The answer is a real estate investment company that says, "We buy houses in Sarasota” in as-is conditions.
Are you still wondering if you should sell a house in Sarasota to these buyers? Here is why you should do it immediately.
Mold and Water Damage Can Lower the Property Value
Water damage and mold from the flooding will reduce the property value immensely. Also, a traditional buyer will probably look at properties to live in and exit when they spot any damage. The reason is the same as yours.
The damage severity is unknown, and you don't want to spend a bomb on repairs. If buyers are still interested, they will factor in the cost of repairs and make an offer far less than the home's actual value.
Mold can start spreading within 48 hours after the floods have subsided. The more you delay selling the property, the more the damage spread, rendering repairs impossible or costly. So, please don’t waste time trying to repair the home; sell it immediately. Find a company that advertises “We buy houses in Sarasota” and offers fair value for them.
Real Estate Investors Will Offer Great Value
Your property has a market value based on several conditions such as size, location, amenities, etc. This number drops significantly when a flood hits the place. When you try to sell such a property, you get offers that are way low than the property’s worth.
The benefit of selling to such companies is that, while their offer is still less than the market value, it is better than any traditional home-buyer will give you. It’s because the company looks at the property from a potential point of view than the current state.
It Is Risky To Live In a Flood-Hit Home
Your family’s safety is your priority, and living in a flooded property can hinder their safety. There are two significant risks that you will be looking at if you continue to live there.
The first is the risk of health. If the flood damage is limited, you will want to continue to live in the home, but beware of the contamination caused by mold or sewage. These are an immediate threat to your family’s health. The next risk is that of safety. Using electricity in a flooded home is risky. You also do not know if there is any structural damage to the property resulting in collapse.
There are many reasons to sell a house in Sarasota after being hit by a flood, and here are listed the top three reasons.
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