Homeowners who have had their houses damaged in a fire often want to repair the damage and keep living there.
But as time goes on and the expense of the repairs and the time it’s going to take to complete them become more evident …
Many homeowners have a change of heart and decide to sell.
But selling a fire-damaged house comes with its own set of unique challenges.
For instance, many home buyers won’t even consider buying a home that was once damaged by fire.
These home buyers are often afraid that all of the damage wasn’t repaired properly and thus a new fire could occur.
Prospective home buyers may also be concerned about carcinogenic smoke and soot that could still remain in the house. Breathing in fumes emitted by these substances could harm their and their family’s health.
So if you do want to sell your fire-damaged house there are some roadblocks you are going to have to overcome.
Here are 3 Keys to Selling a Fire-Damaged House in Today’s Marketplace
If you want to sell your house quickly, you should embark on a personalized crash course in real estate selling.
Act like you are student who is eager to learn anything and everything he or she can about house selling. Read articles and books. Visit websites to study the industry. You may even want to chat with local real estate agents and real estate investors.
Also, get up to date on current trends in real estate both in your region, as well as in the nation. If you are confused about a particular aspect of selling a home, study that concept with vigor.
As you network, connect with experienced agents and investors who can provide you with tips and helpful advice.
You may even want to observe them when they are working. Don’t be afraid to ask questions and to learn from mistakes they have made in the past.
The more you know before you begin the fire-damaged house selling process, the fewer errors you will make, and the more money you will earn!
After you embarked on your learning campaign and have a much better understanding of what selling a house, and especially a fire-damaged house, entails …
It’s time to strategize what you can do to sell your house faster and for a better price.
You should set goals for how much money you want to receive for your house and the time frame you hope to make that money.
Then look at the big picture of your life and figure out how you can transform these real estate dreams into reality.
A big part of selling your fire-damaged house is going to be repairing the damage it sustained in the fire.
To do this, you are going to need a highly qualified contractor. So a big part of your plan should be finding the best contractor in your area.
Plan to interview several candidates and don’t be afraid to ask them tough questions. Also, pay attention to their personalities as this can be a big source of conflict on long, drawn out repair projects.
You want to find someone who you mesh well with. After all, this person (and his crew) could be in your house for a significant amount of time.
If you plan to live there while some or all of the repairs or done you are going to need to get along well with him or her.
A Few Tips for Dealing With a Contractor
1. Never pay your contractor upfront!
If you do this you may very well find yourself with a distressed property, and no money or contractor to repair it. Many people learn this the hard way … and now we just want to save you the frustration and loss.
A better way to proceed here would be to pay a contractor in increments. For example, you could pay 30 percent of the contractor’s fee at the start of the job, 30 percent when repairs are half complete, and the balance paid in percentages until the renovations are finished to your satisfaction, after your own in-depth inspection.
You must be vigilant about having your contractor complete the renovations quickly and efficiently. That means you must work closely with the contractor to make sure he or she is sticking to the completion date.
2. Thoroughly inspect the work when finished
Once your contractor has completed the work on the property, take a final walk-through of the property to make sure the renovations have been completed to your satisfaction.
If all the terms of the contract have been met, including a thorough clean-up, then release the final payment to the contractor for the renovations that were completed.
3. If part of your plan is to sell the house as fast as possible, you may also want to start looking for a buyer as the property is being renovated.
This can depend on the amount of damage that was sustained, but if the damage is not that severe you could start looking for a buyer by marketing the house and putting up signs and flyers.
If you do this, be sure the outside of the house looks great.
The third key to selling your fire-damaged house quickly and for a great price is to believe you can do it!
If you lack faith in your ability to succeed at this mission, do not expect anyone else to believe in you either. You must find the confidence and courage within yourself to make this happen!
Another Option to Selling the House Yourself
If you feel that selling your fire-damaged house is going to be too difficult and take too much time, money and energy …
There is another solution – you can sell your fire-damaged house directly to We Buy Fire Damaged Houses.
We specialize in buying burned homes and we also offer a great price. Plus, we pay in all cash so you can get your money fast and move on with your life.
To see if your home qualifies for a free quote from We Buy Fire Damaged Houses, simply fill out the form below.