If a home is listed for sale and sustains water damage during that time it is up for sale it could be very detrimental for the seller. If the damage is not dealt with as soon as it occurs, it can deter buyers from making an offer or cause them to back out of a pending sale.
Causes of Water Damage
There are many various reasons why a home falls victim to water damage. Some common reasons for water damage include: pipe burst, appliance malfunction, harsh and heavily wet weather, and leaky roofs.
Health Issues that Can Be Caused by Water Damage
It is very important to take care of any water damage as soon as you discover it. It is not just detrimental to the quality of the home, but it can impact the health of anyone living in the home.
Moisture brings the growth of mold and mildew with it and it definitely sends a concerned red flag to potential buyers as these are well known for causing health issues. Mold exposure can be very irritating for those who suffer from allergies and other respiratory ailments. The quicker water damage is taken care of the more the risks of growth and exposure are reduced.
What To Do If Your Home Sustains Water Damage
The first thing to do is call a professional water damage restoration crew to come in and clean up and dry out the home. They will come in with professional equipment to remove any damaged materials, dry everything that can be saved with professional equipment, and test for any mold growth and clean it up.
It would be wise to halt the selling of your home during this process if it is not already under contract. If it is under contract the buyer’s agent will need to be one of the first people notified of the situation and the plans for clean-up. In some cases you can discuss your plans for reconstruction with the buyer and offer to lower the sale price so that they can do the remodeling in the way they prefer.
Deciding whether to completely reconstruct the home and get it move-in ready to continue
to sell or to just clean up the damage and sell it as a fixer would be a good discussion to have with your insurance company and your realtor. Some homeowners choose to make the home like new again, while others opt to let the buyer make the choice on how the home should be put back together and list at a lower price point.
The answer to what you should do in this situation is not a black and white one, it really depends on your current personal financial situation, how much the home is worth, and how much damage is in the home.
To hire an inspector in Champaign to help locate water damage and other issues in homes for sale please contact us any time. If you are looking for a reputable home inspector in Champaign or surrounding areas? Do you need a reputable home inspector in Champaign? Please contact us anytime we are highly trained and knowledgeable and will give you the best insight into your potential home purchase.