The best case scenario for selling a fire-damaged house

 

Offer Express: What are the options for a homeowner for selling the fire-damaged property?

Gahanna, United States - September 23, 2022 /Offer Express, LTD/

After a house has suffered considerable damage due to a fire, the property's real estate value tends to come down. In such a case, a homeowner must consider selling the fire-damaged house and getting the best deal. 

Assessing the fire damage and salvaging what can be saved is an essential first step toward selling a fire-damaged house. There is bound to be structural damage as well as smoke damage. The insurance company will be the best bet to set out the damage assessment and repair costs required to set the house back on its feet.

The next thing to decide is whether to sell the house in as-is condition or to set out all the repairs and then put it on the market. 

Whatever the decision, the house owner now faces the reality that they need to sell the house due to the following reasons:

1. Health reasons: A fire-damaged house can be infested with harmful toxins and chemicals, which could pose a health hazard.
2. The constraint of time: It is a tedious and time-consuming process to rebuild a house that's been ravaged by fire. Not to mention the feeling of displacement one experiences while the house is being repaired. 
3.  General expenditure: When the costs associated with hiring a contractor and rebuilding the house are evaluated, it might be financially better to let go of the house and get as good a deal as possible in its current state. 
4. Damaged vacant lot: A fire-damaged empty plot can lead to misuse by nuisance mongers, or worse, someone could get hurt while accessing it. One would also need to pay some property tax on the vacant lot and perhaps purchase liability insurance as a safeguard.
5. Insurance settlement: If the home had fire insurance, the settlement amount could be used to pay off the loan on the house. It might also cover some repair work before selling the property for a tidy sum. 
6. Emotional hangover: Often, people carry over the trauma of the fire incident even after the house has been fully renovated. They imagine the smell of smoke and can never rid themselves of the feeling of having been in a fire. As a result, they are uncomfortable in the house and can never seem to settle down in it. In such a scenario, a fresh, clean slate is most advisable. 
7. Market vagaries: It is a tough market for someone wanting to sell a house that has been in a fire. Most buyers shy off from such deals as they are unsure of the extent of damage and how it would affect future living in the house. Even with complete restoration work, most States make it mandatory for sellers to disclose the extent of fire damage fully. 

This is where cash buyers like Offer Express step in to make a quick cash deal on the house without any hassles. A homeowner in such a situation would be best advised to connect with a real estate solution company to evaluate the option of making a cash deal on their fire-damaged home. 

Why Offer Express?

A premium real estate solutions company, Offer Express buys houses and wholesale properties, partners with local agents, offers investment opportunities to money lenders, and sells renovated and ready-to-move-in homes. With abundant experience in all real estate transactions, Offer Express is an experienced and resourceful company offering hassle-free cash deals. Their team of professionals has the integrity to follow up on their promises and the expertise to navigate any transaction to ensure that the client is fully informed for making the best decision possible.

Are you typing "Sell my house fast Dayton OH" in your Google search field? You don't need to look any further. Call (614) 820-5777 to know more about the real estate services at Offer Express.