New Port Richey sits right on the Gulf, and in recent hurricane seasons storm surge has pushed water into homes all along the Pasco County coast. This house was one of them.
The Story
After a hurricane that came through after Ian, storm surge put water inside the house. The floors, walls and everything near the ground were soaked. The owner was left with a house that needed a full tear-out and rebuild, and no money to fix it.
Listing it wasn’t realistic. A buyer with a mortgage needs the house to pass inspection and be insurable, and a flooded house with open walls doesn’t pass. Contractors wanted money up front. Every month that went by, the mold risk got worse.
So we bought it as-is. The owner didn’t tear out drywall, hire a remediation company, or haul anything to the curb. We made a cash offer, closed through a licensed Florida title company, and took on the rebuild ourselves.
If Your House Flooded: Your Real Options
1. Repair it yourself
Makes sense if insurance covers most of the work and you want to stay. Get several written estimates, and check with your local building department before you start.
2. Know the 50% rule first
In a flood zone, if the cost to repair is more than 50% of the building’s market value, local rules based on FEMA’s “substantial damage” standard can require bringing the whole house up to current flood requirements, sometimes including elevating it. That can turn a repair into a much bigger project. Ask Pasco County or your city for a determination in writing.
3. Sell it as-is
If the repairs are more than you can carry, or the 50% rule makes rebuilding unrealistic, selling as-is lets you walk away without spending money you don’t have. Keep your insurance paperwork and ask your insurer how a sale affects any open claim.
“The worst thing after a flood is waiting. Mold doesn’t wait. If you’re not going to rebuild, it’s better to know that early.” — Daniel Ghinda, Acorn House Acquisition
We Buy Flooded and Storm-Damaged Homes
We buy across Tampa Bay and Southwest Florida: New Port Richey, Tampa, North Port, Cape Coral and Sarasota. Read more on selling a house as-is in Florida.
Selling a house in or near New Port Richey? Call (786) 982-8464 or get your free cash offer online. See our New Port Richey page for more.
The address and the owners’ names are kept private. This article is general information, not legal advice.