Many people who are considering selling a fire-damaged house want to do it on their own in order to save money on commissions.
If you are the owner of a fire-damaged house and you want to sell it on your own, here are some tips to help make the process go smoother and faster.
Tip #1 – Take Advantage of Technology
The Coronavirus Pandemic has changed the way houses are sold. Today fewer people want to get out and walk through homes of people they don’t know. Likewise, owners considering selling a fire-damaged house on their own often prefer not to have a bunch of strangers walking through the house.
All of this means that you need to take advantage of technology. More specifically you need to make sure your house is visible on the Internet. There are websites, like ForSaleByOwner.com, that allow you to list your site there for a fee, typically around $399. As part of the package for using their service, the listing site may also provide you with a number of professionally done house photographs.
This can be very valuable as showing your house off the right way can lead to a faster sale. When selling on the Internet, the quality of the photos is highly important.
Tip #2 – Consider Pricing Help
The biggest challenge someone looking to sell a fire-damaged house on their own typically runs into is setting a sales price. One thing you can do is check prices of similar houses on Zillow and Redfin. Another thing you can do is invite local real estate agents to tour the house. Often, because they are eager for your business, local agents will be more than happy to provide a free analysis of area home prices.
One thing experts say is to not be afraid of pricing your home a little higher than what the agents recommend. Of course, you have to be very careful when it comes to price. Set the price too high and your house may sit on the market for a long time. On the other hand, set it too low and you won’t earn the maximum profits that you could have earned.
This is why setting a price is such an important decision. You should also remember that fire-damaged houses sell for less than similar houses that have not been damaged by fire.
Tip #3 – Don’t Be Afraid to Use the MLS
The truth is the Multiple Listing Service (MLS) is still the easiest way to advertise a home. To start on the MLS, search for “flat-fee broker” or “flat-fee MLS” followed by your city to find agents who can list your house for you.
Fees can range from around $100 to much higher amounts for listing packages that come with extra services.
Tip #4 – Hire an Attorney
For peace of mind, you should hire an attorney to review the final contract to ensure that it properly covers and states everything regarding the sale. You’d hate to have something come back and bite you later.
Tip #5 – Make Sure Your Fire-Damaged House Looks Its Best
To start with, make sure the fire damage is repaired properly. As a side note, you should also be able to explain the cause of the fire, the extent of the damage, and the repair process. This can put a potential buyer’s mind more at ease and make a sale more likely. Beyond repairing the fire damage, you should also stage your house to sale. Things you can do include:
Inside the house be sure to straighten up and to remove personal photos and other items so that the buyers can see themselves in the home. You want the inside of the home to be spacious, not cluttered.
Outside the home, you should clean up and make sure the yard and landscaping look nice. Good curb appeal can go a long way in making a property a desirable one.
Tip #6 – Consider All Aspects of the Offers You Receive
One more thing you should keep in mind is that not all offers are the same. A high bid isn’t going to be worth much if that bidder can’t get the financing they need. That’s why you need to consider all aspects of a bid. Does the buyer have financing already set up? Is it a cash buyer? Be sure to weigh all factors when comparing bids.
Some other things to keep in mind: bigger down payments are better than smaller ones and first-time buyers along with self-employed buyers may have a more difficult time getting financing.
Does All of This Sound Like Too Much?
Selling a home on your own can save you as much as $15,000 or more but it does come with a lot of work and a lot of stress.
If you would prefer to avoid the anxiety and uncertainty that can come with selling a fire-damaged house on your own there are two other options:
- You can list your house with an agent and let them handle the sale but, remember, you’ll be paying a lot more in commissions.
- Another option that a lot of homeowners decide to go with is to sell your house directly to a company that specializes in buying fire-damaged houses.
One such company is We Buy Fire Damaged Houses. We have worked with numerous owners of fire-damaged houses and are known for delivering solutions that work for both parties. Some of the advantages of working with us include we buy the house “as is” so you don’t have to worry about making repairs and going through a stressful home renovation process. We also pay in all cash so that you can get your money and move on with your life. Combine your sales price with your insurance settlement and you could easily get a better house in a better neighborhood.
Learn more about us or see if your fire-damaged home qualifies for a free quote by filling out the form below.