Insurance First, Decisions Second
Before making any sale decisions, file your insurance claim and get a complete damage assessment. The insurance payout may fund repairs, or it may factor into the sale. Document everything — photos, adjuster reports, contractor estimates — as this documentation protects you regardless of what you decide.
Option 1: Repair and Sell
If the damage is repairable and you have insurance coverage, restoring the home before listing typically yields the highest sale price. However, this takes time and requires managing contractors, permits, and inspections.
Option 2: Sell As-Is
Selling a damaged property as-is attracts investors and cash buyers who are comfortable with renovation projects. The sale price will reflect the cost of repairs, but you avoid the time, stress, and upfront costs of restoration. This is often the fastest path to closing.
Disclosure Requirements
New York law requires disclosure of known material defects, including past damage. Even if repairs were completed, the history of damage should be disclosed. Failing to disclose can result in legal liability after closing.
