8 Tips to Prevent Flood Damage

After the wake of the devastating storms in the Gulf area and the Caribbean, it’s a good idea to have precautionary measures to protect against floods. Here are eight things you can do to guard against the worst.

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Today we’ll be talking about eight things you can do to protect your home against flooding. Given all the crazy weather and disasters that have happened recently, I thought it would be a good topic for you to learn about. 1. Get flood insurance. This kind of insurance isn’t all-encompassing, but it’s a great protector, especially if you live near or inside a flood zone or somewhere below sea level. Find out the cost and look into the coverage to see if it’s a good option for you.
2. Move your important things to higher ground. If you live in an area where water can seep into your basement, work on getting things to higher ground—stack items on pallets or cinder blocks to keep them above the level where water can damage them.

If you live in an area where water can seep into your basement, work on getting things to higher ground.

3. Patch up vulnerable areas where water can leak in. If you have a stone foundation, water can get into little openings and gaps and pour into your basement. Go around the exterior of your home and patch up any areas where you feel this could be an issue.
4. Clean out your gutters and drains. These can become clogged frequently, so be sure to clear them out regularly. If your downspouts sit by the foundations, get extensions for them so they don’t release roof water right by your foundation.
5. Install a backflow preventer. If flooding impacts water levels and causes your sewer to back up, it can be a disaster. A backflow preventer will lock down as sewage is forced backward into your plumbing, so you won’t have to worry about the mess and damage it might normally have caused. Call your plumber to get an idea of what a backflow preventer will cost.
6. Do a major retrofit. If you own a home that is close to a body of water and you don’t want to move, you may have to do a major retrofit. Friends of mine in Maine who lived by the ocean actually had to have their home raised up on what were essentially piers, so that water could flow under it and not damage the property. This can be very costly, but it may be necessary if you live in such an area.
7. Purchase a battery-powered sump pump. Putting in a sump pump will direct the water away from your home as it starts to rise up, which keeps groundwater flowing out, and not coming into the home. Make sure the hose that brings the water out is extended far away from your house.
8. Can you make any changes to your landscape? This is one I see quite often, especially in our area. Some people have a negative grade to their landscape, where the land is flowing down toward the house. Sometimes you won’t be able to address this without a lot of major retrofitting, but other times it can be easily dealt with, if you can add some grade to cause water to taper away from your house. In the worst-case scenario, install perimeter drains if the land grade can’t be changed. If you have any questions about this information, please reach out, call or email. I’d love to answer any questions you have.

How Low Appraisals Affect Buyers and Sellers

Whether you are or buying or selling a home, an appraisal is an important part of the transaction for you. So what happens if the appraisal comes in low?

There are basically three things that can happen:

1. You can challenge the appraisal. Reach out to the lender and tell them that you think it's inaccurate or that they've missed something important. If the lender allows a challenge, you can give them some data or information that shows that the home’s value is higher than what they've deemed it to be.
2. Negotiation. If the difference between the asking price and the appraisal is $10,000, for example, the buyer and seller can negotiate that difference. There will typically be a more aggressive negotiation from the seller than the buyer. If the seller agrees to come down $7,000, the buyer will need to come up with an additional $3,000 to make up the difference. There are plenty of options for this. The seller could come down the full $10,000 or the buyer could come up and cover the full $10,000 in cash. It depends on the motivations of the buyer and seller and the market conditions, among other things.
3. The deal dies. You basically just cancel the deal if the buyer and seller can't come to terms in the negotiation.

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The buyer and seller can negotiate the difference between the appraisal and the sale price.

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Hopefully this situation doesn't happen to you as a buyer or seller, but I hope this topic was helpful for you. If you have a low appraisal, always consult your real estate advisor for help to work through it the best way possible. 

If you have any questions for me about appraisals or you're thinking about buying or selling a home in Milford, give me a call or send me an email. I'd love to hear from you.