After experiencing an awful occurrence like a fireplace burning down, it’s common to just want to sell your home instead of trying to fix it and go on with your life. This will always be difficult since fixing a fire-damaged house is a lengthy and frequently expensive job.
Insurers frequently try to avoid paying out on fire damage claims, and at the very least, they’ll probably hire a loss adjuster whose final report won’t arrive for many months. Additionally, the insurers will almost always try to avoid paying if the property was vacant when the fire occurred. Learn more about wildfire
If so, you might not have the choice to repair the damage, and selling to a firm like ours is typically simpler than attempting to sell a fire-damaged house on the open market.
What other options do I have for selling a fire-damaged home?
Fire-damaged homes often go up for auction, but by chance, if you have a mortgage outstanding, they are unlikely to sell for near market value. Before anything else can be settled, mortgage lenders have a legal claim on the property. Additionally, the auction process can be unpredictable and competitive, leading to potential bidding wars that may drive up the final sale price.
However, if you want to sell on the open market, you need to follow these steps.
Clean the facility as much as possible.
That doesn’t mean you should hire a professional right away, but it does mean that you can clean your home as best you can and eliminate the cigarette smell. You can start by opening windows and doors to let fresh air in, washing curtains and upholstery, and using air purifiers or odor-neutralizing sprays. If the smell persists, consider consulting a professional for further assistance.
Speak with your insurance company; they may cover a portion of the repairs.
And they could even pay for the cleaning, but you should test them immediately.
after the incident to ensure the best chance of coverage. It’s also important to document any damage with photos and keep all receipts for expenses related to the incident.
Obtain a valuation.
And, to be honest, it will have lost a lot of value. Be warned: This is going to hurt. However, it’s important to remember that the value of assets can fluctuate, and there may be opportunities to regain some of the lost value in the future. It’s important to assess the reasons for the decrease in value and make informed decisions moving forward.
Then What?
As soon as you’re prepared to sell your home, you must list it for sale and make it clear that it has fire damage.
There won’t be many private buyers interested in this, and most people looking for the house will want to fix it up for a profit, but they will probably have access to teams of experts who can fix fire damage and will pay much less as a regular business client than a one-off customer.