By Denver Real Estate Agent
Picture this: you’re away from home for a while, minding your own business, and you suddenly realize you left your stovetop or oven on. You rush home only to find the fire department has arrived and your house has severe fire damage.
I write this as i have experienced thismyself. We buy houses in Denver, Colorado so have a seen it all.
How can you cope with the situation and get the most money possible for your fire-damaged house?
Fortunately, there are ways that you can still sell a fire damaged house no matter how much damage was done. Here are some tips to help you get the best return possible from your home.
Benefits of Repairing the Home
Repairing your home prior to putting it back on the market will make it much easier to sell. While your potential buyers may be willing to do some repairs on their own, seeing that you have already started the repair process will make them more likely to purchase the home.
Even if you just set them up with contractors and get the repairs in motion, your buyer will feel less overwhelmed knowing the process has started.
Depending on the amount of damage done, you may find that the repairs needed are pretty cheap! Replacing carpeting or fixing up the home’s wallpaper are just a few simple fixes that can help you sell the home.
Of course, these repairs will also help you make a lot more money from the sale. Having your home move-in ready is a surefire way to increase the amount of money you can sell the home for.
Cons of Repairing the Home
Not all repairs will be simple or inexpensive. If the fire was extensive, you may not be able to afford all aspects of the home; you may even find that the repairs will cost more than the home itself is worth. This is especially true if your insurance doesn’t cover fire damage.
You are going to have to spend a lot of time waiting for the repairs to be finished before being able to sell it as well. You may find that this amount of time is not worth the additional money you can make from the home.
Finally, repairing a fire-damaged home is a hassle to deal with. Hiring contractors and determining what all you need to repair can be a nightmare; in the end, you may find that selling the home as it stands is easier than working through the repairs.
What Repairs Can I Make to Help a Sale?
Some of the best repairs you can make are extremely simple! Fixing the aesthetic appeal of the house by repairing the paint job, carpeting, or furnishing in the home can greatly increase the overall value of the home.
You may need to do some more serious repairs to push forward a sale, including structural repairs if the home was severely damaged. You can hire a contractor for assistance with this.
You may need to hire a plumber or electrician if the fire affected your home’s pipes or electrical outlets as well. These professionals can also help locate any potential problems as well, so reach out to your local plumbers or electricians if you suspect there are issues.
How to Sell a Fire Damaged House
Once you’ve come to the conclusion that you want to sell the home, there are a few things you should do before putting it on the market. Here are some tips to help you get the most money possible from your home.
Thoroughly Clean the Home
By the way: Are you trying off-market properties in Denver to buy as rentals?
One major problem you’re going to experience after a fire is smoke damage around the home. This can show up as stains on the walls, ceiling, floors, and furniture. The smoke can also leave behind odors, particularly in crawl spaces and any other closed-off areas.
Go through your home and clean everything as thoroughly as you can. Make sure you wear proper protective gear while cleaning; soot in the home from the smoke can harm your lungs, and debris on the floor can cause cuts and scrapes. Wear a respirator and thick, leather gloves, as well as thick shoes to protect yourself.
Explore Your Selling Options
Cash home buyers will usually offer money for your home even if it is damaged. Do your research online and consider selling your home to one of these buyers, especially if you are unable to do repairs. That way, you will still be able to get some money for your home even if it is heavily damaged.
Clean Up Outdoors
When you’re cleaning up your home, you shouldn’t only focus on the inside. Give your front and backyard some attention as well so that it looks nice for potential buyers.
Trim any bushes you have out front and care for the lawn. If you have trees in the yard, you may need to rake up leaves or branches underneath it. If any of your lawn was damaged in the fire as well, you should consider planting new seeds to help it grow back.
Decorate Inside and Outside
A few decorations inside and outside of your home can make it look much nicer, even if it does have minor damage. Invest in plants and shrubs for your front yard, as well as indoor plants and any other decorations to keep inside.
Do Any Repairs You Can
Of course, you should try to take care of any repairs you can before putting your home back on the market. Review your insurance policy in detail to see what damages your insurance will cover; make sure you keep track of any repairs you do, as well as responses to and from your insurance company.
If your insurance company doesn’t cover fire damages, you may only be able to make basic repairs. However, even a fresh coat of paint or new flooring can help make your home look like new again. Unfortunately, if your home sustained major damages and your insurance won’t cover repairs, you may have to sell it as-is.
Be Honest About the Damage
When you put your home up for sale, you are bound to get questions about the state of the home as well as why it is for sale. Be honest about your home’s damage, what the fire did to the home, and what started the fire. Any potential buyers will need as much information as possible about the home in case there could be another fire in the future.
Hiding information about the cause of the fire is not in your best interest. If the fire was an accident caused by negligence, that’s one thing, but a fire caused by a malfunctioning electrical unit could cause issues for the homeowner in the future. Be ready for any questions you might get, and don’t hide anything from your buyers.
Take it Slowly
Although you may want to sell your home as quickly as possible, it’s important that you take the sales process slowly. Give yourself time to get good deals for your home, and listen to any experts that give you advice. Be patient with any potential buyers as well, and take the time to answer their questions thoroughly.
Sell Your Fire Damaged House Today
Getting rid of your fire-damaged house may seem like a nightmare, but it doesn’t have to be. If you are unlucky enough to find yourself in this situation, keep these tips in mind so that you can sell your home quickly and easily. You may be surprised how much money you can get for your home!
Do you need to sell a fire damaged house ASAP but don’t know where to go?
We’re here to help. Contact us with any questions or concerns you may have and we’ll make you a cash offer for your home AS IS.