A fire-damaged house may be difficult to sell for various reasons. Not only are there physical renovations that need to be made, but buyers may not want to live in a house where such a tragic event has occurred. If the home is one of many on the market and can’t seem to attract many buyers, it’s probably because the fire and smoke damage preclude most people from living comfortably in such a structure. Fortunately, if you know what steps to take ahead of time, you’ll be able to get the damaged house ready for sale much faster than unprepared sellers would.
Here are some steps you can take to sell a fire-damaged home.
What To Do After A House Fire Has Occurred
The first steps you’ll need to take after a house fire are to secure the property and prevent further structural damage and risk to people. You’ll want to make sure that the area is safe for people to enter and that no additional damage is done to the home.
If the fire department was able to completely put out the fire, you may be able to start cleaning up right away. However, if there is still smoke and water damage, you’ll need to wait for it to dry out before beginning any cleanup efforts and salvaging any personal property. Open all of the windows and doors in order to allow as much air as possible inside the entire house, this will help avoid mold growth.
You will want to ensure you take several pictures of the fire-damaged property and contact your insurance company right away. They will want to send an insurance adjuster to assess the fire damage.
Should You Repair Fire Damage Before You Sell?
Whether you should repair the fire damage before you sell your home depends on the severity of the damage and how much time and money you’re willing to spend. If there is extensive damage, it may be more cost-effective to demolish the structure and rebuild it. However, if the damage is relatively minor, it may be worth fixing, and you may be able to make repairs yourself or hire a contractor to do so.
It’s important to keep in mind that potential buyers will likely want to see that the home has been properly repaired, so make sure all of the renovations are done up to code and with quality materials.
How To Deal With Arson Damage
If the fire was caused by arson, it’s important to take extra precautions when trying to sell the fire-damaged property. You should first contact law enforcement officials to report the fire as intentionally set. They can help protect your property against any further arson attempts.
Most insurance companies will not cover arson damage, so it’s important that you take steps to discourage vandals from attempting to burn down your house again. You may want to consider adding security cameras or hiring a private guard service, especially if there are multiple abandoned homes in your neighborhood.
If the home is scheduled to be demolished anyway (which could happen if the responsible party is found), then it would also make sense to install security measures before tearing the building down, since this will likely cause vandals and other criminals to become interested in the site again.
How To Repair Your Fire Damaged House
If you are thinking of repairing your fire-damaged house, you’ll likely need to obtain a building permit. If the fire damage is extensive, you may even need to obtain a demolition permit if your house cannot be repaired and must be demolished instead.
If you hire a contractor to do the repairs on your home, make sure they have all of the appropriate licenses and insurance before starting any work. You should also get several references and check them out thoroughly before hiring anyone for such an important job. If the extent of the fire damage is severe, you may need to hire a structural engineer as well as part of the rehabilitation process.
You will want to repair fire damage as quickly as possible so that the house can be sold as soon as it’s ready. However, avoid cutting corners just to save money or time because this could simply cause further damage in some cases.
Selling A Fired Damaged Home As-Is
If you rather forego the costly fixes and time it will take to get the house back to building code standards, you can simply sell the fire-damaged house in as-is condition. However, keep in mind that this will likely significantly reduce your asking price and may even deter standard home buyers from purchasing it at all.
Now while most buyers may stray away from buying a fire-damaged home. You can also find plenty of cash investors that will have no issues and buy fire-damaged houses on a regular basis. If you rather sell the fire-damaged house quickly for cash, selling to a local real estate investment company might be a good fit for you.
Our team here at Millennial Home Solutions can help take a fire-damaged home off your plate. The process is very simple, we will assess the unknown variables and potential problems in order to determine our cash offer. If you accept the cash offer, we will begin the process of having our contractors go out to get solid renovation numbers.
We have helped several homeowners after a house fire occurs. Often times selling the fire-damaged property was the easier option. Contact us today at 281-640-0447 or fill out the form to get started.