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Reliable Approaches to Selling a Fire-Damaged Home
Have you wondered how to sell a house after a fire? We buy them!
Hearing sirens in the distance automatically triggers anxiety and negative emotions in many people. An even worse feeling is following a fire truck all the way to your house. Arriving at your property and seeing it burned to the ground is an incredibly difficult moment in life. It is possibly one of the worse. What can you do from here? Our expert renovations team is here to explain solutions to a house burning down. Here are several reliable approaches to selling a fire-damaged home.
Before getting started, you’ll want to work with your local fire martial team to safely remove any belongings that are salvageable. From there, you can start planning. If you have thought that I won’t be able to sell my fire-damaged house, review the tips below and determine the best approach. We buy houses in any condition. Call us today for a free online quote (215) 769-9875.
Which Materials of my Fire-Damaged House are Salvageable?
After the fire is out, the local firefighters can give you an idea of how bad the damage is. Coordinate with them by asking as many detailed questions as possible. For example:
- Which materials are salvageable?
- Do portions of the property need to be rebuilt?
- Should I knock down part of the fire-damaged house?
- Do you recommend demolishing my home?
These are all difficult questions to ask at the moment. A home is a special place that can hold countless memories. You may also need to consult your local city to determine what you legally can and cannot keep. Once you have gotten a grasp on which materials can be saved, I recommend consulting with a home buyer in your area. Ideally, work with a buyer that has experience with fire damage already. Charred properties are complicated enough! Make sure that you get involved with someone who knows how to handle them.
Who Buys Fire-Damaged Properties
Consulting with a home buyer near you that has experience with these types of situations can save you both time and money. Multiple house fires aren’t likely to happen to one person (hopefully). The more knowledge that you can get from others can help with selling a fire-damaged home. Much will depend on the amount of damage but it’s worth remembering that your insurance company should cover you in the first instance,” comments Ruban Selvanayagam of Property Solvers homebuyers over in the UK. Regardless of what part of the world gets hit by a fire, it’s never a good situation. Homebuyers in different countries can help families that need to quickly sell a fire-damaged home.
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First, you’ll need to find this home buyer. Doing a quick Google search for “home buyers near me” is a good start. However, dealing with a fire-damaged house is a unique situation. Not every home buyer is privy to this.
Attending a local REI – real estate investor meetup – can get you closer to finding the person you’re looking for. You will find a variety of people at these meetups, but it will speed up the process. Typically, you can announce to the group a certain need that you have or a person you are looking for. It is nerve-racking to stand up in front of a large group of strangers. No doubt about it. However, it could be the difference between you selling a fire-damaged house, or not.
- Tip: Specifically network with real estate developers and flippers who do large projects. They are more likely to have experience repairing fire-damaged houses.
What to do after a fire
Once you connect with that special home buyer, it’s time to soak up that knowledge like a sponge. You’ve likely been through a mountain of turmoil at this point. Hang in there. Advice and help are on its way!
If you feel comfortable, take the home buyer to the fire-damaged house. Show them the inside if that is safe, or possible, to do. After they see the entirety of the burned house, they can give you their two cents. You might have several questions for them. Can I sell my fire-damaged house as is? Experienced home buyers typically buy houses as-is. They are accustomed to how that works and will give you advice on how realistic it is. If the property is unsafe and needs to be demolished, then you may not be able to sell it fast. Safety is important here!
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Selling Your House After a Fire
As sad as it can feel, selling your house after a fire may need to happen. If you don’t need to do any repairs or knock it down, you are in luck. Selling a house in “as is” condition could be your get-out-of-jail-free card. Depending on where you live, and the demand for houses in your area, there’s a chance you could go this route! Consider what the home buyer advised, and decide if this is your direction of choice. There are several benefits of selling a fire-damaged house as is.
- Less upfront money out of pocket by avoiding costly repairs
- Saves time by not having to demolish the fire-damaged property
- Piece of mind knowing that you are not liable when selling it
By avoiding pesky repairs, you save tons of money with this selling strategy. Fires can do more underlying damage than you expect. Smoke can damage the walls and negatively affect the paint. Wooden beams can dry out and become weak. As home buyers repair a fire-damaged house, they can uncover more unexpected items to fix.
How to Repair Fire Damage to a Home
“It’s bad, but not that bad”. Hopefully, that is what you are saying to yourself if you decide to do renovations to your property. Selling a fire-damaged home may only be possible if you complete several repairs first. Are you the master of DIY – do it yourself? If not, you should hire out contracts that specialize in burned houses. Learning how to repair fire damage to a home can be challenging because of the unexpected repairs that can come up during the project.
Repairing a fire-damaged house before selling
Selling a fire-damaged house can come to result in a lower amount of profit than you expect. Even if your insurance company was able to pay you the market value of the home, that doesn’t lessen the entire sting. By completing certain repairs on a fire-damaged house, you can add value to it. Hopefully, the repairs are minimal. If you wondered how can I sell my fire-damaged house, completing a few repairs could do the trick.
It all depends on what needs to be repaired, and who the end buyer is. When dealing with minimal repairs, it doesn’t hurt to fix them and then try to sell a fire-damaged house for the value it deserves. For projects that entail large amounts of repairs, it will require a larger effort from you, the homeowner. It may still be worth it to repair the fire-damaged house before selling it, even if the initial cost is high. Use these two factors to help you determine what to do:
- How much time do I have?
- Do I have enough money to spend upfront on the repairs?
Was your answer to both questions yes? If so, green means go! Start hiring a team to repair fire damage to your home. Please make sure to vet your contractors before getting into bed with them. We’ve personally been screwed over by multiple contractors. It is costly and annoying. Selling a fire-damaged house becomes much easier after you’ve completed the repairs. You should still disclose any information about the fire to potential home buyers. If your contractors did a stand-up job, you shouldn’t be worried about the home’s past affecting its future.
Demolishing Your Fire-Damaged House
A heartbreaking moment in time. The moment that you must demolish your home. Remember the good times, and know that there is a brighter next chapter for your property.
Selling your house after a fire may be an uphill battle if the repairs are too severe. It is time to pull the plug and demolish your fire-damaged home. Not all is lost, though. There’s a chance you received a good amount of money from your insurance company to help soften the wound. Regardless, there is still hope for you and your property. You can either work with your city or hire a company to formally demo your burned home.
Selling a Property After a Bad Fire
You are at the point where you are left with vacant land. A fire rolled through your home, leaving you with a situation to figure out. Can you sell a fire-damaged property after demolishing the building? You can, as long as you find the right buyer.
This goes back to our initial search for an experienced home buyer. There are real estate investors who specifically buy vacant land to either hold long-term or develop on. You will be able to sell your property if you can find some of these buyers. It could be the perfect match. Don’t be afraid to be completely transparent about the situation and what happened with your property. Experienced property buyers have seen it all. Explain the situation, along with your needs, and see which people can connect the dots and buy your fire-damaged property.
Marketing and Selling a Fire-Damaged House
Now that you know what is possible, legally and physically, for your property, you can decide how you want to market your fire-damaged home. Have you sold a house in the past? It won’t be much different. However, please consider the severity of the fire damages. If your property has a damaged roof from a fire, it may not be best suited for an owner-occupant buyer. Typically, when families are shopping for a house to move into, they look for something turnkey. This means they don’t want to do any repairs to the house before moving in.
A fire-damaged house is a tough sell to families unless the damage is minor. You may get lucky and find a family that enjoys fixing up properties. Otherwise, if you think this type of buyer will be your most likely candidate, you should consider doing some repairs.
Sell Your Fire-Damaged Home by Owner
You have heard of this, right? This marketing strategy includes you and only you. There are plenty of benefits to selling a fire-damaged house this way. For example:
- You have full control
- No fees or commissions
- The final say lies with you
Selling a house for sale by owner means that you are the one marketing, negotiating, and closing the deal. If you have time on your hands, this can be a great way to sell a fire-damaged home. The home buyers that you will be dealing with are most likely going to have multiple questions about the fire. This marketing strategy is convenient since they will already be working directly with you, the homeowner. You can be there to answer all their questions, show them the property, and make them feel good about buying your home.
For those who decide that selling a fire-damaged house by owner is the way to go, preparation is key. Since you are the only one manning the ship, you’ll need to have all information about the property ready to go. Especially if your property is in a good location, the demand could cause your phone and email to blow up. Be prepared by keeping all information about the property on hand. This includes all details about the burned house and fire situation.
Selling a Fire-Damaged Home with a Realtor
Depending on how harsh the fire was, working with a realtor can take a huge load off your back. Fires can add complications to the sale of property. What if the land also suffered damaged and needs special repairs to be fixed? There is also the potential scenario that the neighboring properties were damaged. That could make a building even more unsafe. Again, all house fires are different. Regardless of if you work with a realtor or not, it is vital that you consult experts to get at least some guidance.
Realtors come with advantages too. When selling a fire-damaged house, a realtor can handle the entire marketing process for you. You are essentially paying them after the house closes in exchange for them handling 99% of the home-selling process. A realtor also handles the negotiation. This is key, especially for people who feel like they need backup reinforcements to help negotiate against experienced home buyers.
Network of fire-damage home buyers
The biggest benefit of working with a realtor when selling a fire-damaged house is utilizing their network. Realtors that have been around for a while in the industry likely have a pocket full of home buyers that would fit the bill. That could save you weeks, potentially months when looking for the right home buyer. Selling a fire-damaged home gets much easier when you already have the right home buyers lined up.
If you get lucky, you may not even need to list your property. A realtor could have a few home buyers in mind already that they can float the property to. If they can drum up enough interest, you sell directly to a buyer, and the realtor can add on an extra flat fee for connecting the dots.
Companies That Buy Houses After a Fire
When selling your fire-damaged house for sale by owner, you will likely be selling to a cash home buyer. These property buyers are known to purchase houses that are in distress. Many of them plan to fully repair the house or develop on the property.
The Quickest Way to Sell a House After a Fire
Cash home buyers tout that they can close quickly. What do they mean? Typically, an experienced home buyer that is paying cash can close within 21-30 days. How would you feel after selling a fire-damaged house in 3 weeks? That means you are done with being in cahoots with the city, your insurance company, the firefighters, and any potential buyers.
Working with cash home buyers is arguably the quickest way to sell a fire-damaged home. These buyers are used to unique and difficult home improvement projects. They have most likely needed to repair fire-damaged houses before. What makes working with these home buyers so quick?
- Buy houses for cash
- Quick analysis of what repairs are needed
- Don’t need multiple walkthroughs
At this point, you might be exhausted from the entire experience of dealing with your fire-damaged home. A quick house sale could be your ticket out. Of course, make sure that you connect with a credit cash home buyer that can perform what they say. Sometimes these home buyers take on too many projects at once, and some get lost in the weeds. Selling a fire-damaged house can be quicker than you expect when working with the right person.
Sell After a Fire
During tough times, it is important to remember that there is always hope. Within the darkness, there is light. When dealing with a travesty, such as a fire, things can feel bleak. Utilize these reliable approaches when selling a fire-damaged home. We buy houses as-is and in any condition. Call us today to receive a cash offer for your property.