Selling a property with flood and water damage

Selling a property with flood and water damage

When I purchased an apartment right along a tributary of the St. Johns River in Jacksonville, Florida, I never considered the option of flooding. When one of the greater storms hit the area, there were high winds, torrential downpours & power outages. The sump pump failed & an abundance of dirty water washed the property off its foundation. It caused considerable structural disfigurement… A wall collapsed, the electrical system was destroyed & the floors warped. All of the appliances were ruined, & there were problems with mold growth & musty smells. The property was ultimately condemned. I got estimates from a professional Heating & A/C worker, licensed electrician, roofing contractor, plumber & general contractor. When I added up the cost required to make the property liveable, safe & saleable, it was beyond my budget. I was also reluctant to deal with the stress, time & mess. I would have needed to live at a hotel or rent a property while the property was repaired. Since a condemned property actually wouldn’t pass an apartment inspection, meet local building codes or qualify for a bank loan, I knew that listing it with a real estate agent was a waste of time. I wasn’t sure what to do. A coworker of mine suggested contacting a moneyed apartment buyer. She has a great experience selling her property to a local moneyed apartment buyer. She told me that I could get a no-obligation money offer simply by submitting an online form. She commanded a local, family-owned patron that purchases houses throughout the Jacksonville part in as-is condition. This turned out to be the perfect solution to my problem.

sell property with low home equity