Cornerstone Homebuyers, a Miami-based real estate investment company, has announced the expansion of its "Sell Water Damaged House" service to cover all four major regions of Florida. This move aims to provide immediate cash offers for single-family homes impacted by various forms of water damage, including flooding and hurricane-related issues, irrespective of their repair status or insurance coverage.
Key Takeaways
- Cornerstone Homebuyers now offers cash for water-damaged homes throughout Florida.
- The expansion addresses the significant need for solutions following recent hurricane seasons and ongoing flood risks.
- The company buys houses in "as-is" condition, alleviating repair burdens for homeowners.
Addressing Florida’s Water Damage Crisis
Florida homeowners are increasingly facing challenges with water-damaged properties, exacerbated by a high number of flood claims nationwide and the impact of recent hurricanes like Helene and Milton. In 2024 alone, Florida recorded over 46,000 flood damage claims totaling more than $169 million. Water damage and freezing are significant contributors to home insurance claims nationally, accounting for over 22% of claims.
Cornerstone Homebuyers, with 16 years of experience, specializes in purchasing homes for cash across South, Central, Southwest, and North Florida. They purchase properties affected by various water intrusion sources, including hurricane flooding, storm surge, heavy rainfall, plumbing failures, and roof leaks.
Solutions for Damaged Properties
Ellie Verdura, Founder and CEO of Cornerstone Homebuyers, highlighted the difficulties homeowners face when selling properties with severe water damage. "Many properties with severe water damage cannot qualify for traditional financing, leaving homeowners unable to sell through conventional real estate channels," Verdura stated. "We buy houses with water damage, including homes with mold complications, structural issues from flooding, and properties requiring complete remediation."
Water damage can lead to mold growth within 24-48 hours, necessitate costly professional remediation, and cause structural compromise. Properties with a history of flooding can see their value decrease by 20-30%. Cornerstone Homebuyers aims to simplify the selling process by offering cash for homes in any condition, including those with mold issues, electrical damage from water, or compromised structural integrity.
Fast Cash Offers for Homeowners
Recognizing the urgency often associated with selling a damaged home, Cornerstone Homebuyers provides cash offers within 24 hours. This allows homeowners to sell their property as-is, avoiding the expense and time involved in repairs, mold remediation, or structural restoration. The company has experience with properties deemed substantial losses by insurance companies and those facing complex situations like insurance claim complications, FEMA flood zone locations, repetitive flood loss history, or denied insurance claims.
Florida’s unique geography, characterized by its extensive coastline, low elevation, and high water table, makes it particularly susceptible to water damage. Despite a significant number of flood insurance policies in the state, many households remain uninsured, leaving them financially vulnerable after flooding events. Traditional home insurance often excludes flood damage from external sources, creating substantial financial gaps for homeowners.
About Cornerstone Homebuyers
Established in 2009, Cornerstone Homebuyers is a Miami-based real estate consultant and property investment company. They specialize in direct cash sales throughout Florida, offering an alternative to traditional real estate transactions. The company holds an A+ rating with the Better Business Bureau and has completed over 500 transactions. They typically cover standard seller closing costs and can close transactions within 7-21 days, or accommodate the seller’s timeline.
Sources
- Cornerstone Homebuyers Expands "Sell Water Damaged House" Service Throughout Florida, The Herald-Mail.
- Cornerstone Homebuyers Distinguishes Florida Cash Home Buyer Services From Similar-Named Companies, The Herald-Mail.
- Cornerstone Homebuyers Expands "Sell Water Damaged House" Service Throughout Florida, Markets Financial Content.