Selling a House to a Builder, After Hurricane Irma

Posted on: October 2nd, 2017 by , 17,472 Comments

One of our most popular blog posts and YouTube videos have been on the subject of Should I Sell My House to a Builder in South Tampa?

That question is on a lot of peoples minds after Hurricane Irma… as homeowners have dealt with storm-ravaged homes, roof damage, mold issues and a host of other issues that will cost thousands upon thousands to repair.

With that in mind… here are a few more questions to ask yourself and your family if you’re thinking Should I Sell My House to a Builder?, after Hurricane Irma?”

Should I sell my house to a builder?

Can I live in my house during the repairs?

If you have a small roof leak and maybe a busted window or two, this is an easy answer. Sure… no big deal. However, if the repairs were minor you probably wouldn’t be thinking of selling to a builder after the storm.

One issue that is driving families from their homes is black mold. While mold is simply a reality in Florida… a black mold infestation can lead to the following symptoms according to the Mayo Clinic.

  • Sneezing
  • Runny or stuffy nose
  • Cough and postnasal drip
  • Itchy eyes, nose and throat
  • Watery eyes
  • Dry, scaly skin

In this situation, it simply might not be a good idea for your family to stay in the home. If it is simply not safe to stay in the property, your best option might be to sell to a builder.

How much will my property be worth fully restored?

There are many ways to get a quick estimate on the value of your home once it is restored. For example, Zillow offers their Zestimate feature which will quickly tell you an estimated sales price for your home that reflects current market conditions. However, any online estimate that does not include a visit to the property by someone very well versed in the South Tampa real estate market could lead to an inaccurate valuation of your property.

You can also ask a local Realtor to give you an estimate of the value of your property once it is repaired. Oftentimes they can provide comparable sales of homes in your neighborhood that are similar in square footage, as well as similar in features. For example, make sure the comparable sales data you are using reflects homes with similar traits such as the number of bedrooms, number of bathrooms, or the existence of a garage. Be especially wary of estimates that treat homes with a single bath as equal to homes with 2 bathrooms or more.

Be especially wary of estimates that treat homes with a single bath as equal to homes with 2 bathrooms or more. In addition, make that the evaluation doesn’t equate garages and carports. These discrepancies will have a major impact on your homes ultimate value.

That said, if the Zillow Zestimate, and Realtor Price Opinion are fairly close, and you’ve checked the comparable sales to make sure similar properties are being considered, you should quickly have an idea of the After Repair Value of your property.

Should I Sell My House to a Builder?

How much are the repairs? How much is my deductible?

Now for the slower part. As storm damage from Harvey, Irma, and Maria have impacted so many… there is simply a shortage of insurance adjusters to complete damage assessments and make settlement offers.

You may still be waiting for an adjuster to visit your property, even weeks after the storm has passed. All we can advise is that you be patient with this process and work with your insurance company to determine the extent of the damage, and how much you will be compensated.

Under Florida Law, your deductible for hurricane losses might be as little as $500 and as high as 10 percent of the policy dwelling limits. Depending on your policy, $100,000 in storm damage could require you to pay as much as $10,000 to complete the repairs to your property.

How much is the lot worth to a South Tampa Builder?

We have two ways that you can determine how much the lot is worth in South Tampa. First, you can get a general idea of what lots are selling for in your zip code by visiting our blog at

Now, keep in mind that zoning, elevation above sea level, lot size, school district, trees, and a host of different issues can affect the price a South Tampa builder will pay for your teardown. So, to really find out what the lot is worth, give me a call at 813-784-4199.

My name is Robert Wilson, I’m the Director of Dirt with EXIT Bayshore Realty and I can quickly get you a fair offer for your hurricane-damaged property.

When you call or visit my website at, I’ll quickly help you get an offer from a South Tampa Builder and you won’t have to pay for commissions, repairs or closing costs.

You have nothing to lose, as the offers are provided with no obligation.

However, you could lose thousands of dollars in cash or equity if you were to invest a $90,000 insurance settlement toward $100,000 in repairs on a house that will only be worth $200,000… when the lot is currently worth $150,000 to one of my builder partners. In the example, you would be spending $240,000 on a house that is only worth $200,000.

Now your situation might be different based on the terms of your mortgage or insurance policy… but doesn’t it make sense to know all of your options?

If you are still coping with a damaged home after a hurricane… please give me a call at 813-784-4199, get an offer for your South Tampa home fast, and know for certain if you should sell your house to a builder in South Tampa.

17,472 Responses

    Fatal error: Allowed memory size of 134217728 bytes exhausted (tried to allocate 18350464 bytes) in /home/southtam/public_html/blog/wp-includes/class-walker-comment.php on line 199