Case Study - Hurricane Damage
4BR/3BA with roof, water, and mold damage from Hurricane Ian - sold as-is for $185,000.
Robert and Linda owned a 4-bedroom, 3-bathroom home in Cape Coral that took a direct hit from Hurricane Ian in September 2022. The 2,200 square foot home was built in 2004 in a canal-front community. Before the storm, the property was worth approximately $380,000.
Hurricane Ian tore off a significant portion of the roof, allowing water to flood the interior. The master bedroom, living room, and two secondary bedrooms sustained severe water damage. Within weeks, mold had spread through the drywall, insulation, and HVAC system. The pool cage was destroyed and the seawall showed new cracking from storm surge.
Robert filed an insurance claim immediately after the storm. The insurance company initially approved $42,000 for repairs - a fraction of the actual cost. Contractors estimated the true repair cost at $80,000 to $95,000. Robert hired a public adjuster to fight the insurance company, but the process dragged on for over a year with no resolution.
During that time, the home was uninhabitable. Robert and Linda were paying their mortgage plus rent on a temporary apartment. The financial strain was enormous. They could not sell through traditional channels because no lender would finance a home with an open insurance claim, active mold, and a damaged roof.
Robert explored repair options, but contractors in Southwest Florida were booked 6 to 12 months out due to the volume of hurricane damage across the region. Even if he could find a contractor, he did not have $80,000 to fund repairs out of pocket while waiting for the insurance dispute to resolve.
We specialize in purchasing hurricane-damaged properties. Our team inspected the Cape Coral home and assessed the full scope of damage. We worked with Robert's public adjuster to understand the status of the insurance claim.
We presented a cash offer of $185,000 for the property as-is. The offer was structured so Robert could assign his insurance claim benefits to us as part of the transaction. This meant Robert walked away clean - no more fighting the insurance company, no more double payments, no more stress.
Our title company handled the assignment of benefits documentation alongside the standard closing paperwork. We closed in 14 days.
Robert and Linda were able to pay off their remaining mortgage, eliminate the double payment burden, and move forward. They used the proceeds to put a down payment on a new home in a less flood-prone area of Lee County.
"We spent over a year fighting the insurance company and getting nowhere. OneCashOffer bought the house, took over the claim, and we finally had closure. I wish we had called them sooner." - Robert