Purchasing a Water Damaged Home

5/3/2021 (Permalink)

Have you ever been out house hunting, looking for a perfect flip home? The majority of the time these homes are the ones that are a little distressed and rough around the edges. The home may have been foreclosed or have some pretty extreme looking damage, however these are the homes that give you the best profit in the end. If no one else wants to touch them, it might be a wonderful opportunity, but it could also mean that the price of the home is wrong. Here are some ways to determine if a home in need of water damage restoration is worth the buy. 

Mold

The first thing you will want to look for are signs of mold in a home as you are doing a walk through. Mold can be easy to smell right off the bat if it is extensive enough or has sat for a long period of time. You can also see signs of black streaking on the carpet or walls. You can see soft spots or even see large patches of growth. Mold can cause health effects if you breathe it in and it is important that you hire professionals from a company like SERVPRO of Oldham/Shelby County and don’t attempt to take care of it yourself.  

A small amount of mold is not something that should make you leave the possibility of that flip in the dust, but it could be an indicator of a big problem. The only way to know how much of a mold problem you have is to contact a professional to give you an estimate of the damage and cost. 

Structural Damage

Water damage can many times cause structural damage, especially if the water was left to sit on a wood or other porous surface for an extended amount of time. If this is localized to a small place, it may not be a huge water damage restoration project, but if it was an entire floor that was flooded, you will want to consult water damage professionals to give you an estimate before buying. In foreclosures, you cannot ask the bank to make any repairs like you can with a private owner. However, you can discuss the budget with your water damage professionals and try to adjust the offer accordingly. 

Most water damage restoration projects are difficult to predict if you aren’t a professional. Water damage has a way of hiding in walls and threatening to be more difficult than it seems, at first sight, this is why it is important to consult a professional before you buy a home to determine how much the damages will end up costing. Before you make an offer on a home, discuss your budget with a water damage restoration professional, so you can have a better idea of what you can afford to offer. 

Water Damage In Your Home or Business? Contact the professionals here at SERVPRO of Oldham/Shelby County today. 502.241.6861

SERVPRO of Oldham/Shelby County also proudly serves Spencer, Henry and Trimble Counties.