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Why some Floridians are panic selling their homes
FOX 13's Evyn Moon reports on the risks of Florida residents that are choosing to sell hurricane-damaged homes rather than repair them.
REDINGTON BEACH, Fla. - With many facing painful rebuilds that will cost thousands and take months, some homeowners are opting out by putting their storm-damaged homes up for sale "as is."
The complicated process has people looking to get out fast, but realtors are warning them to look out for wholesalers, buying properties under contract and then selling the contract to another buyer, typically within 30 days – all while making tens of thousands in profit.
"They buy houses at a really deep discount, and then they try to sell them, and they make a quick buck, and then they sell it to a real investor who will then flip it. So they're just, it's just the middlemen," said Denise Antonewitz, a realtor. "They are trying to flip the contract for sure. And if you call them, I have called them out on that, and they tell me no, that's not what they're doing. But then we find the house on a website for $30-40,000 over what the contract price is. So they're lying."
READ: Floridians selling gutted homes after storm damage from Hurricanes Helene, Milton
She suggested people slow down and wait for insurance, and then list on an open market and wait for legitimate buyers. In many cases in Florida, the property value is still worth a lot.
"You're going to get real end buyers," she said. "Maybe somebody has had one flood in 30 [years]. We've got a lot of that happening where it was the first flood they've ever experienced. Why would you why would a buyer be afraid to buy that house? It's in a great neighborhood. You know, the chances are it's flooded once in 60 years. It's a great it's a great investment."
Another realtor in Redington Beach said don’t take low ball offers, because it will ultimately affect the entire neighborhood's property values.
"People are nervous about what their properties are worth, but believe it or not, their lot value is worth a lot of money so take that into consideration before selling it at a moment’s notice."
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