Selling a property with water damage can present more challenges because buyers prefer to purchase move-in-ready homes. You will be forced to hire water remediation professionals and then put the house on sale. You will also be forced to disclose the history of water damage, which can discourage prospective buyers. However, water-damaged homes are frequently a unique opportunity in the real estate market.
While challenging, these properties may be great assets for astute investors and homeowners. Selling a water-damaged property to cash home buyers in Raleigh may appear overwhelming, but it can be a profitable and efficient process.
What Causes Water Damage?
There are a whole lot of issues that cause water damage, some sudden and some over time. Below are some of the most common causes of water damage:
- Flooding of any kind, especially from a natural disaster.
- Inclement weather, especially if you have small cracks in the roof or if severe winds blow out a window or a related fixture.
- Leaks of any kind. These are especially dangerous as the leaks often occur behind the walls, leading to copious damage before you notice it. Common leak sources include rusty and corroded pipes, high water pressure, extreme temperatures, broken water connectors, and more. (1)
- Gutters may get clogged by leaves and other types of debris, disrupting water flow away from the property. This will cause water damage to the walls, floors, and ceilings.
- The drains in your kitchen or bathroom may be blocked by the buildup of hair, grease, toiletries, and other objects, which can block the drainpipe and prevent normal drainage. The clogged drains will eventually back up and cause water damage inside your property.
- Malfunctioning sprinkler systems can also cause water damage that could damage electronic appliances in your home.
Selling a Water-Damaged House to Investors
The process of selling your water-damaged home to investors is very straightforward. You call or email a cash buyer and discuss your property in detail. The buyer will then come to your home, inspect it, and give you an offer. You can choose to take on or reject the offer and find another buyer.
However, if you accept the offer, the buyer will give you money and close the sale within a few weeks. Selling to an investor can help you enjoy the following benefits.
You Can Negotiate the Price to Your Liking
When selling a water-damaged house to a we buy houses Durham, NC buyer; it’s easy to negotiate a price that works for both sides to ensure a rapid transaction. In a seller’s market, there are likely to be dozens of other cash buyers interested in purchasing your home. This allows you to increase your prospective revenues. Furthermore, cash buyers frequently act as flippers.
They have a lot of money to work with and are often willing to pay more for a good offer. On the other hand, a normal house buyer prefers to dwell in your property rather than sell it. They may be working with a tight budget.
Cash Home Buyers Work on Your Timeline
Another big merit of working with a we buy houses Raleigh firm is that they may work around your schedule. For example, you may need a month or two to finalize the sale of your water-damaged home, arrange for a new living situation, or sell your household possessions in preparation for your move to a new nation. In these instances, you can take your time until you feel ready. If you need cash quickly, cash buyers can help you sell your home quickly.
Enjoy a Hassle-Free Selling Process
You will have less stress when you sell my house fast Durham to a cash buyer because there are fewer issues to think about. For example, you will not be required to pay for any repairs to fix the water damage in your home. If you’re stressed about selling your property, sell it to a cash buyer to get it done faster. There’s no reason for it to keep you awake at night, even if your home has extensive water damage.
In fact, if your home is about to go into foreclosure, you can sell it to a cash buyer and get it out of your hands swiftly. What other concerns can be alleviated by selling to a cash buyer? You can forego the home inspection, for example. Even if the seller pays for the home inspection, most house buyers conduct their own examination beforehand to identify any hidden faults with the property.
You might also be concerned about finding a buyer and whether the buyer will be approved for a mortgage loan. All of that tension is unneeded when you sell to a cash buyer.
Minimize Costs
When you sell my house fast Raleigh, you will save money on your home sale. One of the most important discounts you will get is the elimination of the realtor fee. Another significant approach to save money is to avoid home repairs and improvements. Even if your home is not severely damaged, you should undertake repairs to make it more appealing to purchasers.
There’s another big approach to saving money you may not have considered. As the home sale process drags on, you must continue paying bills to keep your property in good condition. For example, you may need to continue paying the electricity bill so that purchasers can view how the house appears at night. In addition to making your home appear more inviting, you must leave the air conditioner on during showings.
However, when you sell your home to cash buyers, you don’t even need to spend money on showings, saving you more money.
Get a Fair Cash Deal
If you want a fair cash bargain, find an honest and transparent company that says we buy houses in Raleigh-Durham for cash. It is critical to work with a company or flipper that has positive references or reviews and does this regularly. Working with random flippers who may not have your best interests at heart is one of the drawbacks of selling to cash buyers. Unfortunately, there are numerous scammers in this field.
Some may ask you to wire them money upfront. Others may use deceptive tactics to try to induce you to lose money. Cash buyers who have been in the industry for more than five years can give you a fair deal and close the sale within a few weeks.