Even if you have a house with water damage in Tampa Bay, your home sale can be successful with proper planning. Tampa, St. Pete, and Sarasota are no strangers to storms that can cause flooding, so water damage is a common issue. Water damage can lead to necessary repairs and may affect the process of finding a buyer. If the damage is minor and properly disclosed to the buyer, you might still be able to sell your house on the traditional market with a real estate agent.
However, extensive damage might make it harder to attract potential buyers and could extend the selling timeline. The extent and location of the damage can also decrease your home’s value. Since water damage can be challenging to repair without impacting resale value, it's important to explore all your options before starting any repairs. It’s also helpful to do some research to find out if making repairs before selling will get you a return on your investment.
Understanding water damage and its causes
House water damage occurs when water seeps into areas where it shouldn’t be, causing:
- Warped wood
- Mold and mildew
- Structural damage
- Electrical problems
Common causes include:
- Natural disasters such as flash floods or hurricanes
- Burst pipes
- Malfunctioning or broken appliances
- Leaking roofs or foundations
- Poorly sealed windows or doors
Water damage can lead to long-lasting structural issues that may limit your buyer pool when you’re looking to sell your house in Tampa, St. Petersburg, or Sarasota. Fortunately, homeowners insurance often covers water damage, so it’s a good idea to contact your insurer to see what coverage you have.
How to identify water damage in a home
Spotting water damage in your house can be tricky. Besides more obvious signs like standing water or mold, keep an eye out for:
- Brown or yellowish water stains
- Musty odors
- Rusting metal pipes
- Cracked walls or foundations
- Loose tiles or discolored grout in kitchens and bathrooms
- Stains on carpet and flooring
- Peeling paint and wallpaper
Before listing your Tampa Bay home, make sure to address any water damage. Remove standing water, repair leaks, and have professional mold remediation done to ensure that the home is safe for future buyers.
Is water damage covered by home insurance?
Coverage for water damage depends on your insurance policy and provider. Most policies cover sudden or accidental damage from burst pipes and overflowing appliances but typically exclude natural disasters like floods or sinkholes, which require separate flood insurance. However, home insurance generally doesn’t cover water damage caused by:
- Lack of maintenance: If a pipe bursts because your Tampa Bay home wasn’t properly heated, or your water heater explodes due to lack of maintenance, your claim might be denied.
- Rising water levels: For this type of damage, you'll need flood insurance.
- Gradual damage: A slow leak over time may not be covered.
- Exclusions and limitations: Policies often have exclusions. For example, they may not cover a mold problem that results from a plumbing leak.
It’s important to contact your insurance provider to ask about the details of your coverage.
How to fix water damage in a house
Fixing water damage quickly is important to prevent further issues in your Tampa Bay house. Start by turning off the water at the source if a pipe bursts or a major leak happens. If there’s a smaller issue, start by identifying leaks—check ceilings, walls, and floors for signs like discoloration, peeling paint, or mold growth. Repair any leaks promptly by replacing damaged pipes or fixing faulty plumbing, and seal drafts around windows and doors to prevent moisture from entering. After stopping the leaks, clean up quickly by wiping down wet surfaces to prevent mold formation. Thoroughly dry the affected areas and inspect for any signs of mold or mildew to ensure that your home stays safe and secure.
If the damage is extensive, it may be necessary to contact water mitigation services that are experts in handling water damage. They use industrial fans and humidifiers to dry any area that was affected by water, and they can test to see if the drywall and any wood was damaged beyond repair once they’ve run their equipment for several days.
Selling a house with water damage
After your house has had water damage, you can sell the house either in its current condition or after making repairs. Understanding the extent of the damage, the cost of repairs, and how much time and effort the repairs will take can help you choose the best strategy for selling your house in Tampa – St. Pete. Some of your options are:
- Sell your house "as is": If you don’t want to spend time on repairs, you can still list your home in its current state on the traditional market and disclose its condition upfront. When looking for a real estate agent, let them know you want to sell the house without fixing it, and they can help you list it properly and disclose the known issues to any potential buyers.
- Make minor repairs: Once the water has been removed, you can repair small issues by painting walls or replacing damaged materials to help attract buyers. You’ll still need to disclose any major issues that you decide not to fix.
- Price competitively: You can price your Tampa Bay house lower than the market value to attract buyers who are willing to invest in making the repairs themselves.
- Consider buyer concessions: Offer incentives like paying closing costs or providing money to help pay for any necessary repairs.
- Sell to an off-market home buyer: Most direct buyers are willing to buy houses that need repairs. They each have different policies, potential fees, and processes involved, so it’s important to do some research on which off-market buyer is best for your situation.
Selling your house "as is" to an off-market home buyer
Selling to a home buyer like We Buy Ugly Houses® in Tampa Bay allows you to skip repairs and sell your house "as is." With over 29 years of experience, we buy homes in nearly any condition, including those with water damage, hurricane damage, mold, or issues not covered by insurance.
We offer free, in-person consultations and provide fast offers with no commissions or hidden fees. We also pay typical closing costs. Our offers are usually below market value in exchange for a speedy, hassle-free sale.
We can sometimes close in as little as 3 weeks, and if you need more time, we’ll work with you to choose a closing date that works with your schedule. Contact us today for a no-obligation consultation and be one step closer to a fast offer for your Tampa, St. Pete, or Sarasota house!
This blog is for informational purposes only and should not be considered legal advice.
