Having to go through a natural disaster is never easy. In many cases, people want to turn the page and move to a safer area. Others want to be able to recuperate on their loss and make a quick sale. Selling your property after a disaster is often the only way people are able to stay afloat and rebuild from scratch. But there’s still a way that you can make the most of the situation and get good value for your property as long as you do everything right. Let’s take a look at the steps you should take following a disaster to sell your home.
Call Your Insurance Company
Whether you decide to repair, renovate, or sell right away, the first company you should call is your insurance company. Chances are they will be flooded with claims after the disaster, and you want to have priority. You should never go back to your home if it isn’t safe yet, however you should check right away as soon as you get the green light. Take the time to take pictures of everything and document as much as possible.
Even though this might be a difficult time, you’ll have to keep receipts for everything. This is also the time to talk with a water damage restoration service like PureOneServices.com. They’ll be at your service 24/7 and will be able to come up with the right course of action to minimize property loss and damage, which will be crucial when selling the house.
Decide how Much You’re Going to Fix
Now, you’ll have to decide how much you’re going to repair yourself in order to make the house more attractive. At the very least, you should make sure that the house is safe. If you weren’t intending to move, then this could be the occasion to make renovations you’ve always wanted. But if you want to sell, we would suggest that you don’t spend too much on renovation projects.
A lot of people who buy property in disaster areas know what to expect, and you could end up making renovations they won’t actually like. You should focus on making sure that the house looks and feels as clean as possible and tackle important repairs instead of focusing on decor.
Understand How Your Home Value Will Be Affected
If you live in a place that is prone to natural disasters, like hurricanes for instance, that could actually be a good thing. You will lose less value since people already know what to expect from the area. However, if the natural disaster happens in a place that has either only recently seen a surge in disasters, or somewhere where they rarely happen, then people might think twice about buying in the area straight after a disaster. You might want to wait longer in these cases before you put the property up for sale until the market picks back up.
Another thing you’ll have to consider is the mortgage. Mortgage assessment will take more time in a disaster area as the home will need to be re-appraised. The home also has to go through inspections and lenders might be more cautious.
Conclusion
Selling your house after a disaster can be done, however, you have to make sure that you do everything right if you want to get some value back. Make sure that you take all the steps necessary and be ready to be patient if you want to eventually make a sale.
