All You Need to Know about Selling a House with Fire Damage

Selling a house at a profitable price is not easy in the market. The task becomes an even tougher one if the house that you are trying to sell off has recently been through a fire accident. You might think that you are one of the many few who are facing this situation, but it isn’t so. In the US alone, around 400,000 houses catch fire on an annual basis.

So, what do you do now?

With the house of fire, there are two options that you can go by. You can either get all the damage repaired and then put it up for sale or sell it without spending on any repairs.

The first option is more suited for people who want to sell a house with fire damages that are huge. From the kitchen to the bathrooms, no matter where ever you go, the condition doesn’t look good. Selling it as it is would bring you a huge loss, to begin with. If you think that you can afford to hire contractors and get the job done on time, then this is something we would advise in favour of.

 However, if the home equity won’t cover up the repair cost and would leave you no money to pay the mortgage, we would suggest to put it up for sale and face the loss that it would incur. This option is also applicable to those who have fire insurance to pay them back for the loss they face and thus, they do not feel entitled to go through the hassle of getting some repair work done.

Given the fact that the buyer pool for such houses is already too small and you won’t find too many people in the market willing to buy such houses, it is better that you get done with at least the basic repairs. This would increase the net worth and open the house to ample of opportunities for the buyers who are interested.

This is how you begin

To sell a house with fire damage, you first need to get the contractor or agency you have hired for your full confidence. Do not hide anything, especially the circumstances that led to the fire. Next step would be to gather all the supporting documents, fire insurances, and documents regarding all sorts of repairs that you have made relevant to the fire incident. This would make your case stronger for all the buyers.

To stay on the safe side, it is recommended that you make the small repairs and then think of selling the house. This way finding the right buyer would be easier, and the turnout won't be that low too. For more information on how to sell houses in the best circumstances, feel free to visit our website.

Marketing and finding the right buyer for your house is an art, and we are here to help you connect with the most suitable one.