Statistically, humans have mastered sandbags and other flood protection techniques, but nearly 98% of Nashville homeowners need to deal with some degree of water damage. In Nashville, insurance companies pay up to $8 M daily to cover water claims. These statistics bring all kinds of water damage to the structure of the building.
You may be surprised to know that water damage is not solely due to the heavy rainy season, floods, pipe ruptures, and leaks. This can be due to old and outdated plumbing systems, moisture buildup in crawl spaces or basements, and failures in heating, ventilation, and air conditioning systems.
Even aging or improperly installed appliances such as dishwashers, washing machines, and kettles can leak enough water and cause great damage.
Read this write-up for complete guidelines by a real estate consultant if you have these problems and want to sell your home with water damage in Nashville.
How to Sell a Water Damaged House in Nashville?
Now take a look at some expert advice on how to sell a water-damaged home with minimal impact on the asking price.
1. Full Disclosure
If you can hide the water damage from potential buyers, you may first get a more generous offer to it. However, once the truth is revealed, it is guaranteed to be amid a murder proceeding that costs far more than it would lose after proper disclosure.
2. Research the Repair Cost
Even if you don’t plan to repair it yourself, it’s a good idea to know the exact cost. Thus, your asking price and the buyer’s offer will be the fairest according to the repair cost.
3. Do the Repair Yourself
Once your home is water damage insured and the damage is in line with the policy, you can easily do all the repairs yourself, and it will be the most marketable home.
4. Save All Repair Paperwork
Once you have conducted repairs yourself, save all the paperwork, contractor`s estimates, receipts, etc. It will be solid proof of your investment in the property.
Can I Sell My Water-Damaged House “As Is”?
Depending on the damage severity, you may consider selling your home “as-is”.
This can be an appealing opportunity in some scenarios. For example, you may be kneeling in repair negotiations and getting stuck with a buyer, or you may not be able to maintain a transaction after making all the appropriate disclosures.
Well, the cash offers you get can be less than what your home can get on the open market if you make the necessary repairs and do your best to price.
However, the direct purchase market is more diverse and cheaper than ever. Find out what cash buyers offer your water-damaged homes “As Is” today.
Property Friends TN can help you sell your water-damaged house as-is in Tennessee, Nashville, Clarksville, Knoxville, Jackson, Greenwood, Chattanooga, and the rest of the greater Tennessee area. For an obligation-free appraisal of your home, call (629) 206-4166 or email email@example.com.
What Are the Most Common Sources of Water Damage?
Water Damage can occur in various ways and is one of the major issues home inspectors are paying attention to. Home inspection reports can be corrupted if there are safety issues related to water damage.
Following are the primary source of water damage that most people face in Nashville:
1. Flat Roofs
According to the experts, the primary reason for water damage has a flattened roof and collection of water at the top instead of draining as intended.
Rooftops can also experience ice dams during winter weather when puddles are covered with ice that traps water. In any case, roof cracks and ceiling leaks can cause water damage and mould in your home.
2. Prevention Tactic
To prevent water damage on flat roofs, repair low areas where water collects and is not drained. Also, while considering re-roofing, unclogging, or unclogging existing drains. Keep in mind to hire a licensed contractor for this purpose.
3. Leaking Pipes
Improper water pH balance, copper melting, and many other things can cause pipe leaks. Pipes can also freeze or rust. All of these things lead to pipes leaking, and it’s challenging to diagnose and resolve due to underground pipe wiring.
4. Dirty Gutters
When a lot of debris becomes congested, water can burst and run down the sides of the house. This is not desirable as it can cause damage and discolouration of the sidewalls, destruction of the landscaping, flooding of the basement, and movement of the foundation.
5. Your Neighboring Home
When it comes to property damage caused by water, this can be one of the factors. Luckily if you have good neighbours, they are there for you when you are facing a difficult situation. Sometimes, however, you may be forced to live next to a person who can be obnoxious and goad you even if you intend to move.
It is important that you know how to recognize and contact your neighbour if you suspect they have damaged your property.
What should I do immediately after water damage?
- Contact your insurance Company
- Dry things out
- Clean and restore your property
- Protect yourself
- Stop water damage
Can water-damaged wood floors be fixed?
Depending on the degree of damage, it may only be necessary to treat the parquet floor. Sometimes, you may need a patch to replace the damaged panel before refinishing. In the worst case, the entire floor will have to be removed and replaced.
If you are caught in this type of situation, follow our experts’ instructions to sell your water-damaged home in Nashville at high prices.
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I’m the founder and managing partner of Olympus Development Group a TN-based Real Estate Development and Investment firm, and a Financial Coach with clients in Los Angeles, New York City, and Nashville. As a serial financial entrepreneur, I excel at deal structurings, acquisitions, and business development with a strict focus on cost control in all aspects of a transaction – acquisition, management, operating costs, and disposition.