How to Sell Your House After a Flood

Floods are one of the worst calamities anyone can experience. It affects your life both temporarily and permanently. The latter is especially true when it comes to your home, which might never be the same anymore after a flood.

Flood water contains a lot of harmful contaminants that can render your house unlivable unless you’re willing to spend a lot of money for repairs.

This is why selling a house after a flood isn’t easy. It is doable, however, and here’s how:

1.     Contact your insurance provider immediately

This is when you’ll be thanking yourself for getting flood damage insurance early on, because your insurance company can and will help you after assessing the damage.

Make sure that you document the damage as instructed before you make any kind of repairs.

2.     Get a power washer to clean hard surfaces

Garden hoses will also work, but if possible, use a power washer. They’re much more effective in cleaning the hard surfaces of your home after a flood.

3.     Be ready to put in a lot of elbow grease

Cleaning a house after a flood takes a lot of manual labor.

If you’re not able to put in the work for some reason, you can hire other people to do it for you. There are cleaners who specialize in after-flood cleaning. However, their services won’t be cheap, so you might want to heavily consider doing it yourself.

If you do decide to clean your house yourself, you’re going to need to do it as carefully and as meticulously as you can.

Buy quality protection gear, and use a heavy-duty cleaner. Use disinfectants as instructed, and best of all, get ready to put in a lot of work.

4.     Disinfect and sterilize everything

Flood water is never clean. If a flood ever hits your home, the last thing that you want to do is to not give it a thorough clean.

Your kitchen, in particular, will need to be disinfected and sterilized properly. Don’t be afraid to apply a strong disinfectant solution to all of your kitchenware liberally.

5.     Do not reuse mattresses

Your mattresses are unsalvageable. They might eventually dry up, but they’ll never be as clean anymore.

6.     Drain your basement slowly

A lot of homeowners make the mistake of draining water from their basements as quickly as possible. Don’t do it. Doing so will put your floors and walls at risk because of the extreme wall pressure caused by the sudden draining of water.

At best, you should only drain two to three feet of water from your basement every day.

Your home will never be the same after a flood, but you can try to restore it. Keep in mind, however, that restoring a home after a flood can be a time-consuming and expensive process.

If you do decide that it’s no longer worth it to salvage your home, then you might want to heavily consider selling it to a cash buyer instead.

With a cash buyer, you won’t have to worry about making any repairs or renovations at all. They’ll make an offer for your home, and if you think that it’s fair price, the cash buyer will take care of everything and all you have to do is to sign your property off to the cash buyer and that’s it.

In just a few short weeks, a cash buyer can take your flooded house problem off of your hands and give you cash in hand in return.

 

The Hidden Costs of Home Selling That Nobody Ever Tells You

Did you know that there’s more to selling a house than the listed price? You might not know about this, unless you’ve sold a home before, but there are many fees involved to selling a house.

From selling fees, to commissions, renovations, repairs, staging, and more, selling a house can cost you a lot more money than you might expect.

Below are some of the most surprising costs of selling a house that no one really tells you about.

1.     Home repairs and maintenance

The best way to sell your house for the highest price possible is to repair both structural and cosmetic problems, as well as to make all the necessary small repairs so that the house looks like it’s brand new.

From replacing the carpets, to power washing the pavements, walls, and windows, to having the house cleaned, as well as replacing cabinets, and more, you can expect to spend hundreds if not thousands of dollars making your house smell and look like brand new before you even think about putting it up for sale.

2.     Landscaping

This is the type of cost that most home sellers don’t really think about when they first consider putting their house up for sale.

Because they most likely will no longer be living there, their lawns and backyard will need some looking after. That’s where landscapers, and the subsequent costs of hiring them, come in.

3.     Staging and utility

It’s easier to sell a home when it’s barebones and designed to look completely neutral than when you live there. Unfortunately, staging is another cost you have to worry about, and can set you back upwards of $700 on average.

Also, while you’re house is put up for sale, you’ll have to worry about paying for utilities as well, which can add to your expenses.

4.     Fees for home inspections and home appraisal

While home appraisals are usually paid for by the buyers or lenders, you might as well consider adding it to your possible list of expenses just in case.

The sure thing that you’ll have to pay for is the home inspectors. The seller is usually the one to shoulder the costs of paying for a home inspector to check out the property and see if there’s anything wrong with it structurally, and if it meets any state standards.

5.     Real estate agent commission

This is arguably the biggest selling expense, and is usually set at about 6 percent of the total sale price. Although you can bypass paying this by selling the house yourself, you’ll be missing out on a lot of opportunities by doing so. In particular, your property won’t be listed on the MLS, and real estate agents will have less incentive to push the property to their clients because they know they won’t be getting any commission out of it.

6.     Closing fees

This is a laundry list of all the costs included in closing the deal, which can include and is not limited to: property taxes, transfer taxes, escrow fees, and numerous other legal fees.

The good news is that majority of the closing costs is usually shouldered by the buyer.

There are other costs to worry about as well, especially if your property is still under mortgage.

With that said, it really is important to take the time to do your research before selling your house to see if it’s financially worth it. Of course, if you want to sell your house as-is, it is possible. You can either put it up for sale yourself, or you can go to a cash buyer, who will take care of everything and will pay you for your house by cash.

 

Should You Sell Your Home Without Doing any Repairs?

It’s not easy to sell a home. Between all the fees you’d have to pay, not to mention, all the meeting and dealing, and finally, making sure that you’ve spent enough money to spruce up your money and make it presentable, not anyone has the time nor the money to deal with all of that.

So, what do you do? Do you just keep on paying your taxes and dues? Or, do you sell your house as is?

Is Renovating It Even Worth It?

Even if you have no money to renovate your house, there are ways to secure a loan, such as from the bank, to get enough cash to fix up your property and make it sell for a higher price.

The only problem is, is it worth it?

For example, if your house only needs some cosmetic repairs, like a new coat of paint and something similar, then it’s definitely worth it to try and fix it. You’d be surprised as to how a few cosmetic repairs can do wonders in terms of driving up the selling price of your house. However, if the damage is structural, then you might want to consider.

Not only are structural damages costly to repair, but they almost always only show up during home inspections.

Unless you have a lot of experience repairing houses, structural defects will cost you a lot of money to make sure that the repairs and renovations are of high quality.

It might just not be worth it to try and fix the house if that’s the case.

Selling to a Cash Buyer

Selling your house fast isn’t easy. You can try asking for help from a realtor, but, if your house is not in peak condition, not a lot of people will be looking to buy it unless the location is ideal for whatever their purpose, and even then, it will be a hard sell.

For a hassle-free and stress-free transaction, you might want to consider selling your house to a cash buyer.

Not a lot of people are familiar with selling to cash buyers, and thus, they might be hesitant to work with them. However, cash buyers are not unusual today. In fact, more and more people are starting to consider them as the better option when it comes to selling houses.

The best reason why cash buyers are starting to gain popularity is because they will offer you cash for your property as is. Their valuation might not be as high as if you would have put the house on the market yourself, but you also won’t have to go through the selling process by selling through a cash buyer either.

With cash buyers, the selling process goes through much faster and you’ll get paid within a matter of weeks if not days.

Cash buyers are indiscriminate. So long as you have sufficient proof that you own the property, they will handle everything for you. No need for repairs, and definitely no need for you to put up with the long and arduous sales process.

With a cash buyer, you’ll receive a complete cash buyout for your property as it is without any added fees.

 

Why You’re Selling Your House Wrong

Did you know that there’s a huge chance that you might not be selling your house the right away? A huge tell-tale sign that you’re doing it wrong is if your market has been up for sale for quite some time already with little to zero offers.

If that’s the case for you, then you might want to check if you’re making these home-selling mistakes, and learn how to fix them.

1.     Your décor and style are too personal

No buyer wants to go inside a home and feel like they’re intruding.

When selling a home, it’s always best to keep it barebones as far as personal stuff go. The fewer personal belongings there are inside, the better.

Remember, the moment that you put your house up for sale is the moment that the house is no longer yours. You’ll want to put yourself in the shoes of the buyer, and do everything you can to make sure that they can picture what it would be like to live inside your house.

Other than personal items, you’ll also want to get rid of any furniture that you may have used in the past, unless they still look new and good.

Your goal should be to stage each room and make them as inviting as possible.

2.     Your house can still smell you (and your pets)

You might already be immune to the smell of your home (or your pets), but other people are not, especially people who will be stepping inside your home for the first time.

A good way to tell if your home needs some “deodorizing” is to invite someone you can trust to step inside and tell you how it smells like. If it smells bad, or smells too much like you or your pets, then you might want to do some cleaning. Also, you can try baking something whenever an interested buyer comes in, to mask the smell.

It would also be better if you left your pets at a kennel or somewhere else until your home is sold so your house doesn’t keep on smelling like pets.

3.     You’re not working with a real estate agent

No one is going to blame you for attempting to sell your home yourself. There are various resources available online that will help you market your house on your own, as well as know what you need to do to increases its chances of selling. However, even with all that knowledge at your fingertips, you most likely will not have the same network that real estate agents have.

Unless you work with a real estate agent, you won’t be able to list your property on the Multiple Listing Services, or MLS, which drastically cuts down on the chances of your house being sold at a fair price.

So, while you might be able to save money on commission fees by not working with a real estate agent, you’re also taking on the risk of its value decreasing because it takes longer to sell on your own.

There’s never really a fool-proof formula when it comes to selling homes quickly. Even the most experienced real estate agents will tell you that it will take time. But there are steps that you can take to increase the chances of sale.

If you don’t have the time nor money to spruce up your home to make it attractive to homebuyers, or you simply don’t want to deal with the long sales process, you can always sell your house to a cash buyer.

Cash buyers will buy your home right there and then, without any repairs, using cash, saving you a lot of money and time.

What To Do To Your Home After a Natural Disaster

Natural disasters such as wild fires, floods, typhoons, and aircons, have affected millions of lives over the years, sometimes displacing families and often causing a huge financial burden for those who were unfortunate enough to be affected.

As a homeowner, your house is likely one of your biggest concerns after the natural disaster.

Was it damaged? Can it still be repaired? Should we move? Are we still safe here? These are just some of the questions that you’re going to ask yourself as you try and recover.

To help you come to a more sound and logical decision, here are some tips that you can follow to guide you on what to do if in case your home is ravaged by a natural calamity.

1.     Contract your insurance company immediately

Emergencies like natural calamities are exactly what insurance coverage is for.

As soon as the disaster is over and you’re starting to go back to your daily lives, call your insurance representative immediately. Ask about your policy. What’s included in the coverage? How much can you realistically expect to receive and be reimbursed?

Insurance claims can sometimes take days if not weeks and months, so it’s always best to have a head start.

If you didn’t have insurance before, then now is definitely a good time to start looking for a provider.

2.     Let your mortgage company known

Most people don’t know this, but there’s such a thing referred to as “mortgage forbearance”.

This is an agreement where the lender and the borrower come to terms so as to allow the borrowing party to freeze the payments for a defined period of time. This can last from a month to as long as six months, even a year, depending on your agreement with your mortgage company.

Remember, when a disaster strikes, the last thing you’re going to want to worry about is if you’re going to lose your home or not.

While applying for a mortgage forbearance might extend your mortgage and set you back for a couple more years, it’s still a lot better than having a big payment hanging over your head at a time when you need all the financial help that you can get.

3.     Seek government aid

The federal government will likely provide aid in the form of small loans to allow you to get back on your feet and make small repairs to your home.

Affected families can borrow as much as $200,000 for home repairs, and $40,000 to buy new furnishes, appliances, clothing, and even vehicles.

Natural disasters are somewhat inevitable. You can’t really predict when they’re going to happen and how devastating they can be. But you can prepare for such a scenario. You can make sure that your home has extensive insurance coverage for all types of natural disasters, and you can follow tips such as the ones we listed above to make such a trying time easier for you and your family.

In case you’re no longer willing to repair your home nor seek out aid from the federal government, you can seek out cash buyers in your area. These real estate companies will not hesitate to pay for your home upfront with cash, regardless of the extent of the disaster-related damage.

The only thing that you need to so, is ask.

 

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