House fires are amongst the most terrible and terrifying events anyone could ever experience. Unfortunately, they are a lot more common than you might think. Thousands of homeowners and their families have suffered severe losses, such as a damaged home, burnt clothes, destroyed family heirlooms, and photographs, physical injuries, or emotional trauma.
This horrific experience can make the process of selling the house quite difficult, even after doing the necessary repairs. If you’re looking to move out soon, then read on to learn how you can sell a fire-damaged house.
Reasons to Sell the House
Plenty of reasons can contribute to a homeowner’s decision to sell the fire-damaged house, making it the most optimal solution for them in most cases. The remaining soot and smoke residue can negatively affect your health, causing illnesses and several respiratory problems. It will take a long time to restore the home and clear all of the toxic materials that will make it appealing to sell again.
It’s the most attractive choice for a clean slate rather than living in a construction zone for too long. The stress of dealing with property taxes, especially if it’s unlikely that the house will increase in value. One of the strongest reasons why selling it is the best choice is because of the emotional and traumatic distress that everyone feels after the incident.
People are psychologically and physically not comfortable anymore to stay in a home that was in a fire, even after the restoration process.
Can You Sell It As-Is?
It can be quite a dilemma to decide if you should sell it as-is or repair it first, making the situation a lot more stressful than it already is. Knowing the conditions that would make it advantageous to sell a fire-damaged house without restoring it can be quite useful. If the fire has only affected one or two rooms, then selling as-is will be the easier choice.
Some companies prefer purchasing fire-damaged homes for cash, making it a very attractive option for those who need the money right away. You can go to their site and learn how the fire damage specialists simplify the process and guide you through the necessary steps with no extra charges. If you happen to have fire insurance coverage, you can easily get a substantial payout for the home.
To feel comfortable again and recuperate from the loss, consider finding an investor who is willing to buy the house along with your insurance payout. This will allow you to sell the house almost at full market price.
Being Honest Is Key
Homeowners should always be honest with buyers, investors, and realtors when it comes to house fires. Even if the horrific event was years ago, you can’t cover it up or lie about it. You must understand that honesty is the key to success in the housing market and real estate. People will eventually find out that your home was fire-damaged, causing many liability issues for you in the future.
Integrity is needed to attract buyers because not only is your reputation at stake, but you might suffer even more losses if you are legally liable because of disclosure laws. Selling a house without disclosing all the information will never be in your best interests.
Stick With the Recommended Restoration Companies
If you decide to repair and restore the home, then you must stick with the restoration companies that are recommended by your insurer. It will be a hassle for you to find a decent and reputable company on your own. The chances are that the repairs will cost you a lot more with any random restoration specialist. Your insurance provider will recommend the right company to hire, and they will make the process easier and cheaper for you.
These companies specialize in fire damages, and they will find the best way to remove all the hazardous material for a fair price. However, you must be patient because restoring your house will be time-consuming. You must be prepared to go through the process and live with it until the house is presentable and marketable. Keep all the documentation from the repairs as proof to your future buyers that the home is safe to live in.
While there is an unfortunate stigma in the housing market that makes buyers ignore a refurbished and repaired fire-damaged home, there is always a way for homeowners to sell their fire-damaged properties. Plenty of appealing options are available for homeowners to streamline the process and sell their houses at a fair price.
You can choose to sell the home as it is or repair it first, depending on your financial situation and how fast you need the money. However, you should keep in mind that the house will be easier to sell if you manage to repair and renovate it first.