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Which means they never bothered to remediate the property.
The way simply sat there and soaked into the walls, wood, floors, and eventually made its way up into the ceiling.
Mold was no longer the primary issue. Looking at the house from the outside, the bricks were bowing out over the foundation as if it was blowing up like a balloon.
This house was so beyond repair that the only option was for it to be torn down.
In fact, legally, if there was even a way to repair it, the cost of doing so would exceed the 50% limit where the home would have to be torn down according to the new laws.
The value of the property was reduced to its land, which was just shy of $25,000 in the Bellaire area.
Allowing the water to sit there for so long destroyed the home
Because the water was able to soak up into the walls and taint everything within the frame of the home, it become totally worthless.
But if the family had decided to remediate the home to get rid of the moisture immediately, they would’ve been able to get a lot more for it.
Even if they decided that they no longer wanted the property, they would’ve been able to get an additional $20,000-$30,000 on it, at minimum.
It’s a nicely sized property, and it should’ve been worth a lot more. But they ignored the water and allowed themselves to be put into a position where they literally lost everything they put into it.
What the alternative could have been
Mold remediation requires a few steps.
The first is to remove any standing water that’s still in place.
The second is to dry the moisture so that it minimizes the amount of mold and damage. At this point you need to get a certificate showing that remediation was done.
The third is removing any material that was affected and replacing it.
This usually involves cutting sheet rock up to the water line and replacing it. It’s not a super easy job, but it beats the hell out of replacing an entire house.
After that, you’ve got to get some replacement flooring in most cases, as the water has likely made some permanent damage to the existing ones.
Once these things are completed, then you need to make sure the air quality is checked and certified.
Without this, it’s easy for a problem to come up later on and the first thing to blame would be the remediation done from the flood.
That’s a liability you really don’t want to carry.
Now, had this family followed this process, they likely would have spent $10,000-20,000 out of pocket, which is not an insignificant amount of money to unexpectedly have to pay out.
But that point, had they sold the home, they would’ve been able to recoup that entire amount and get some on top of it, even while all the other homes were going up for sale and home values were on a dip.
At the very least, they would have been able to get a substantial amount higher than just their land value.
The amount of time that would have taken would have been a mere 2 months or less (and only because there was such a shortage of contractors able to take on jobs at the time, even with a large portion of them coming in from out of state).
The last resort when it comes to a flooded home
If you’re a homeowner that is dealing with a flood similar to this situation, there are likely 3 options at your disposal.
You had flood insurance and they’re able to payout to your claim in order to get your home repaired.
You pay out of pocket to get the flood damage remediated and repaired.
You are unable to pay for the repairs at all, and you’re in a bind.
Although option 3 is most applicable, in all 3 of these scenarios, there is definitely an alternative to handling the property.
You can sell your house as-is to a home buyer company such as ours.
Why would a company want to buy a home that’s been flooded and is uninhabitable?
Well, it’s because we are home investors, and we’re also follow residents of the city.
Not only do we buy homes that need work so we can put it back on the market and make some type of profit, we but also strive to help homeowners are stuck in a situation they can’t get out of.
As home buyers, we are uniquely able to handle the restoration of properties that otherwise would sit and rot because no one else would want to invest in that type of property for their family or take on that type of project.