Cleanup After the Flood on May St.
When tragedy strikes your customer’s home or rental property, what can you do to make it better? Call Stoney Built!
Hello, my name is Stoney White.
I want to share with you a story that just happened recently when an agent came to us with a distressed property.
So I received a phone call from one of the agents that we do a lot of work with, and they had an owner who’s property had flooded. It was a rental property that had a unit above it and the unit above it flooded and the water came down into their unit and ruined their flooring, ruined their cabinets, and just made a mess of the place.
So, I was brought in as a contractor to help give their client some information on:
- What it’s going to take?
- What it’s going to cost?
- What are the time requirements?
…to get this property ready to sell. Because at this point, the property owner has had this property for 8 years, the market is very healthy right now and they want to sell. They really didn’t want to go through the trouble of getting it back up and ready to be rented, displaced renters, etc.
The owners had a good run with the property, it had good value and they decided that they were ready to sell. So, I came in and I was able to get them the information they needed to make a decision. In this case, that information was an estimate, and the estimate showed that in this particular property it would have cost about $22,000 to get the property up the standard to be ready to sell for market value.
At that point, having that information, the owners got a few other quotes to verify the information was accurate, and ultimately they decided that they really didn’t want to finance the remodel. They didn’t want to go through the work, effort and time to fix it, they were just ready to be done with it.
We were able to provide a 3rd option, which was a cash offer. So we actually ended up buying the property from them. It was a win-win-win situation. The agent was taken care of, the owners were able to sell the property without having to remodel the property or spend the $22,000 to get it liveable again. They didn’t have to jump through any hoops and they didn’t have to wait an additional 75 days for the property to close.
They were done, the stress went away, they were able to do what they needed and wanted with the property. So again, it was a win-win situation, since we were already equipped to handle the remodel, we took that burden upon ourselves and we put the money upfront. This property will be able to either be kept as a rental or sold for market value.
We’re about a month away from finishing this project.
I wanted to let you know and share that story with you so that you know that there are options.
If you need the information to make an informed decision, please reach out to us, and take a look around our website for more examples of how we can help you.