HOUSTON - Many flood victims have thought about selling their ruined homes as is. Others who did not flood figure they can sell their homes right now at a premium.
Ed Wolff with Beth Wolff Realtors has a unique insight into options for homeowners, as his home flooded as well.
- Wolff recommends looking into lifting your home, if that option is available to you.
- If you home has only flooded once, Wolff says to considering renovating your home and keeping it.
- If your home did not flood and you want to move, now is the time to sell. Wolff says your home will likely move off the market faster and you may make more money on it.
- If your home has flooded multiple times or you want to move from your flooded home, Wolff recommends waiting about a year to sell. "We all have short memories, and Harvey will disappear into the background in the near future," says Wolff.
- If you do not want to renovate your flooded home, Wolff says sellers have been faring decently during sales. "By taking the flood insurance money and adding that to what you would get in the as-is condition, letting somebody else do what they would like to with your property, they've come out almost to the same value as what they would've gotten prior to the flood," explains Wolff.
- And finally, a warning: If someone comes to your door and offers to buy your gutted home as is, that is likely a scam.