When you plan to sell your house, the last thing you want to deal with is water damage. While you can sell a house with water damage, it may seem like an uphill battle. It can be tricky enough navigating a home sale with a move-in ready property. But when you’re dealing with a home that has water damage, you will need to think about how it will affect your sale. Should you fix your house before you sell? Or should you sell without making repairs?
Does water damage affect home value?
Water damage can significantly impact your house's value. The extent and location of the damage, as well as the potential for future problems, play a role in determining how much your home is worth. Water damage can lead to:
- Structural issues: Water can weaken the structural integrity of your home, leading to the need for costly repairs.
- Mold and mildew: The presence of mold can pose health risks and decrease the desirability of your home.
- Electrical problems: Water can damage electrical systems, posing safety hazards and requiring expensive repairs.
- Aesthetic damage: Water stains, warped floors, and peeling paint can make your home less appealing to buyers.
Most buyers prefer properties that won’t need a lot of work immediately after purchase. Even if they do show interest, they may want a lower price or ask for concessions in order to compensate for the cost of future repairs.
Common causes of water damage
Understanding the causes of water damage can help you prevent future issues and address existing ones more effectively. Common causes include:
- Natural disasters
- Water overflow
- Burst pipes
- Sewage backups
- Leaking roofs
- Clogged drains and gutters
- Faulty appliances
- Poorly sealed windows and doors
How to spot water damage in your house
Identifying water damage early can save you money and prevent further issues. When you think you may have water damage in your house, look for these signs:
- Brown or yellow stains: Often found on ceilings and walls
- Musty odors: Indicative of mold or mildew growth
- Peeling paint or wallpaper: A result of moisture under the surface
- Warped or buckled floors: Caused by prolonged exposure to water
- Rusting metal pipes: A sign of persistent moisture issues
- Cracked or bulging walls: Structural damage from water infiltration
How do you remove water damage from a house?
Once you've identified the cause and extent of water damage, you’ll need to address it promptly. Steps for water remediation include:
- Stop the source: Turn off the water supply if necessary and fix the leak.
- Remove standing water: Use pumps, wet vacuums, and dehumidifiers to dry the affected areas.
- Dry and dehumidify: Use heavy-duty fans and dehumidifiers to continue to remove wetness from affected areas.
- Clean and disinfect: Prevent mold growth by cleaning and disinfecting all affected surfaces. It’s important to wear PPE (personal protective equipment) when dealing with mold. The affected areas may also need to be cleaned with an antimicrobial solution.
- Repair and replace: Replace damaged materials, such as drywall and flooring, and repair any structural issues.
Do you have to disclose water damage in a house?
Disclosure laws are determined at the state level. Depending on your location, you are required to disclose any known water damage to potential buyers. Buyers have a right to know the condition of the property they are purchasing, including any history of water damage and the steps taken to remediate it. Failing to disclose known issues can lead to legal problems down the line.
Challenges of selling a home with water damage
Selling a house with water damage comes with several challenges, including:
- Price reductions: It can decrease your home’s value and force you to lower your asking price.
- Health hazards: Complications from the damage, such as mold and mildew, can pose health risks to potential buyers.
- Safety concerns: It can compromise electrical systems and structural integrity.
How to sell a house with water damage
When selling a house with water damage, you can:
Repair before you sell.
If the damage is minor, or if you have the time and the funds, repairing water damage before selling your house might be worthwhile. This can make your house more appealing to buyers and potentially increase its value. Consider the following steps:
- Mold remediation: Professional mold removal can cost between $1,128 and $3,450 on average, depending on the extent of the infestation.
- Structural repairs: Fixing structural issues can be costly, with prices varying widely based on the damage. Average costs for structural repairs needed due to water damage can range anywhere from a couple hundred to tens of thousands of dollars.
- Cosmetic repairs: Address aesthetic issues like repainting walls and replacing damaged flooring. The national average cost for cosmetic repairs to repair water damage is around $3,300.
Understanding your homeowners insurance policy is crucial when dealing with water damage, and you may want to consult with your insurance company to see what they will pay for. Most policies cover sudden and accidental damage, such as burst pipes or appliance malfunctions. However, they typically exclude:
- Flood damage: This requires separate flood insurance.
- Lack of maintenance: Damage due to neglect is not covered.
- Gradual damage: Slow leaks over time are often excluded.
After necessary repairs have been made, providing evidence of remediation is important as it can build trust with potential buyers. You should document all repairs and provide receipts, inspection reports, and warranties. Providing evidence of remediation will reassure buyers that the issues have been professionally addressed.
Sell “as is.”
If you decide not to fix any damage, you could sell your home “as is” by:
- Working with a real estate agent who specializes in “as is” sales: An experienced real estate agent can help you navigate the complexities of selling a house with water damage. They can assist with pricing, marketing, negotiations, and closing. Keep in mind that agents charge commissions for their services, and these expenses will be a percentage of your home sale price, historically around 5%–6% on average.
- Selling your house to an off-market home buyer: Selling your house "as is" to an off-market buyer like HomeVestors® can be a way to simplify your sale. Investors will typically buy properties in many different conditions, which will let you avoid making repairs and a lengthy waiting period on the traditional market. Remember, these buyers often provide offers that reflect the current condition of your house and the convenience of a quick sale.
Water damage doesn’t have to derail your sale. Whether you choose to repair the damage or sell “as is,” understanding your options and taking the necessary steps can lead to a more successful home sale.
We buy houses with water damage.
Selling your house “as is” to an off-market buyer like HomeVestors® can be an excellent option if you have water damage and want to sell quickly without navigating the hassles of making home repairs. Whether it’s clean water damage or black water damage, we’re interested buyers when your house isn’t ready for the market.
With our 3-step home-buying process, we can take you from consultation to closing quickly, sometimes in as little as 3 weeks. If that sounds too fast, we work with our sellers individually to determine a closing date that suits their selling timeline. With HomeVestors, you get an individualized sale focused on you without any commissions or hidden fees.†
Benefits of getting a home sale with HomeVestors®
If you have a house with water damage and you're looking for a quick, hassle-free home sale, HomeVestors is here to help. In the past 29 years, we’ve helped over 150,000 homeowners sell their properties with a streamlined process. When you sell your house to us, you get the benefits of:
- No disclosure or evidence of remediation
- No repairs or renovations
- No cleaning or staging for potential buyers
You don’t even need to clean before we come over for our initial visit. You can also leave unwanted belongings behind, including any water-damaged items or furniture, and we will take care of them for you, free of charge.
Want to avoid dealing with water damage when you sell your house? Contact us today for a no-obligation consultation. We’re here. And ready to help.
This blog is for informational purposes only and should not be considered legal advice.
