What to Do When Selling A Home With Water Damage
Selling a home in today’s market can be especially challenging. Yes, it’s still a sellers market but buyer are becomingly increasingly more critical of homes as housing prices reach their peaks. If you need to sell you house fast in Indianapolis and your house is in move-in ready condition, you will still have to compete with other houses in the same condition. If your house is in less than move in ready condition or has existing damage due to water penetration, then you may be facing an uphill battle. Not only will this type of defect make it tougher to get the sale price you are looking for, but it will take considerably longer to find the right buyer. Moreover, in many cases, buyers and even lenders may require you to correct this problem before you close.
In my 12 years of real estate investing experience, I’ve come to discover the destructive force that water can have on a house. Broken pipes, leaky roofs, water penetration in crawl spaces and basements can have can have a profound impact on the integrity of a home. In this post, we will explore the impact that water penetration can have on your ouse and how best to manage repairs and navigate the sales process in Indianapolis.
Water damage is a big deal and it won’t just go away if you ignore it. The longer the problem exists the more extensive and costly repairs may be. When you consider water static pressure on your foundation, mold growth and cosmetic repairs, costs can quickly climb to unbelievable heights. Navigating these repairs can be challenging, especially if you haven’t had the unfortunate experience of dealing with these types of problems before. Luckily you don’t have to go it alone. There is a market for these types of houses and buyers who are more than willing to purchase your home as-is. If you need to sell your Indianapolis house fast and your house has water damage, then keep reading and learn more about how to do it here.
Time Is Not On Your Side
As we’ve discussed earlier, water can be very destructive! Seek our repairs as soon as you realized there’s a problem. Yes, these types of repairs are costly but they only go up the longer the problem persists. Standing or continual water penetration, under the right conditions, can promote mole growth. It only takes a few hours for mold to begin growing, and unless treated correctly can become a health hazard for you and your family. Your first step should be to stop the follow of water and try to dry the affected area with fans and dehumidifiers. Once the area is try you can treat the affected area with disinfectant and mole inhibiting chemicals. There are great organic products on the market today that you can find at your local hardware store. If the damage is great, it’s probably a good idea to reach out to your insurance company. They can help offset the cost of repairs and put you in contact with reputable remediation and water penetration specialists.
Damage Can Go Beyond Mold
While mildew and mold are a big problem, water can affect other systems in and around your home. Excessive water buildup around foundations, called static pressure, can cause major damage. If your foundation is brick or block, this pressure can cause whole walls to bow inward, compromising the structural integrity. Electrical systems can be damaged, shorting out wiring circuits and, depending on the location of your main electrical panel, can short out your homes entire electrical system.
Other materials that can be affected include wood wall frames, drywall and carpet. Drywall is very susceptible to water damage and can warp or bubble. Wood, when exposed to water, can bow causing hidden damage that will eventually manifest into visible damage wall damage. Carpet, if not thoroughly dried out can trap water in the underlying pad and lead to mold and mildew. This can cause a house to smell and in many cases, the only solution is to replace the carpet completely. Don’t forget about any personal items that get in the waters way, they can be lost as well. As you can see, water can be a big problem, but even these defects won’t necessarily prevent you from selling. Real estate investors in Indianapolis are eager to purchase your house as is. They have the resources and experience to deal with these types of problems quickly and efficiently.
It’s Always A Good Idea To Be Upfront And Honest With Prospective Buyers
If you decide to use a real estate agent to sell your house with water damage, it’s a good ideal to be up front and honest with your real estate agent and prospective buyers. Sellers are required to disclose any known defects of the house. If you are not upfront and honest about the condition of your home, you could be liable for damages, financial repercussions and lawsuits, even after the sale. For extra credit, you could hire an inspector to examine your house before listing so you know exactly what you are up against. If you’ve made the repairs, these inspections can go a long way to put to rest any reservations prospective buyers may have. If mold was a problem and you had your home remediated, you may want to consider getting an air quality test.
Buyers are hesitant about buying homes with water damage or even previous water damage. As we’ve discussed, they have every right to be concerned about what they are getting themselves into. It is always best to be transparent about these types of issues and any corrective measures you undertake to remedy the problem and prevent it from reoccurring.
More About Home Inspections
In all my years of real estate investing I’ve come to learn that not all home inspectors are created equal. Each one comes with a different perspective and relevant experience. Your home inspector could be a 10 year veteran or fresh out of school. I always recommend a second opinion. Yes this does cost you more money but it can save you thousands down the road. You may have corrected your water problem and made any necessary repairs, but be prepared for the unexpected. Water penetration can cause problems that aren’t evident right away. A good home inspector will throughly examine your house and may find hidden damage below the surface. When it comes to water damage, it’s always a good idea to be proactive. Have your home inspected before you list it. Making repairs before you buyer finds them can save you money and prevent a deal from going south.
The Easiest Way To Sell Your House
If you want to sell your house fast and don’t want to have to deal with on-going and expensive repairs there are other options you can consider. Thousands of home owners across the country have sold their house fast and in as-is condition the easy way. Selling your house direct to a real estate investor will get you out of having to deal with costly repairs. Real estate investors prefer to purchase houses that need a little TLC and will buy your house as-is for cash. In many cases, they will pay all your closing costs and allow you to pick a closing date that is most convenient for you.
If your ready to sell your house fast and are looking for a cash offer than consider giving Ittenbach Capital a call today. Ittenbach Capital is the Midwest’s premier home buying company. We will by your Indianapolis house fast for cash and in as-is condition. There are never any out-of-pocket expenses for you to worry about. Fill out the short form on our website today. Tell us about your house and we will take it from there. Our process is simple, we’ve take all the work out of selling your house, simplifying it into four easy steps. Take the first step and get out from under your house. Also, check us out on the Better Business Bureau and see why our customers rate our company 5 stars.