Selling a fire-damaged house has never been particularly easy for homeowners but now in the wake of the Coronavirus Outbreak that job has gotten even more difficult.
Let’s take a closer look at the current situation and how the Coronavirus is making selling a fire-damaged house much harder as well as what you can do to overcome this roadblock.
About the Coronavirus
Already, the US has experienced over 14,000 cases of Coronavirus and over 200 deaths. And those numbers are only going to rise in the future.
In fact, Tom Frieden, former director of the Centers for Disease Control (CDC) in the US just recently said as much. When asked about the Coronavirus pandemic, he said flatly: “it’s going to get worse.”
Most experts believe it is going to get a lot worse before it begins to get better.
Many businesses have been forced to close in response to the virus or to dramatically change the way they operate.
Real Estate Industry Makes Coronavirus Changes
The real estate industry is one of the many that have had to make drastic changes in response to the Coronavirus outbreak.
Among the changes that have been implemented are:
No more open houses – many real estate agents and home sellers have decided to eliminate open houses all together.
The truth is not many homeowners feel comfortable having strangers come into their homes … homes that they may still live in … as this would increase the chances of being exposed to the dangerous virus.
Another potential danger of open houses is that they could produce overcrowding in the house if several people showed up at the same time.
Having several people in close contact or passing each other in hallways could increase the chances that they would be exposed to the Coronavirus.
Those that are going through with open houses are making other changes such as bringing hand sanitizer and disinfecting wipes for all guests.
Many are also instituting “no-touch” policies which prohibit visitors from touching any surfaces in the home.
Limits are also being place on how many people can be inside a home at once.
The Bottom Line …
The Coronavirus is making it much more difficult to get your fire-damaged house the proper exposure it needs to sell quickly.
And remember, most experts believe the current crisis in which people are being asked to stay home and many are being told to “shelter in place” could last for not just many more weeks but for many more months.
And lack of exposure isn’t the only obstacle to selling a fire-damaged house that has been created by the Coronavirus.
The Coronavirus Recession
The Coronavirus Pandemic that is sweeping across the globe has also led to a tremendous loss of wealth.
Concerns about the Coronavirus have sent the markets – and people’s 401K’s spiraling downward.
Reports indicate that Amazon owner Jeff Bezos lost $7 billion in one night. Elon Musk lost $4 billion. Regular investors have lost thousands.
Plus, businesses, like restaurants and bars, are being told to close. Many people have lost their jobs and are busy wondering how they are going to pay their monthly bills. They don’t have to time or the resources to think about buying a fire-damaged house.
The Result of All This Financial Turmoil
Real estate sales are falling sharply!
Now combine falling sales with the historical difficulty of selling a fire-damaged house and there are a lot of reasons for owners of houses that have been burned in a fire to worry.
Remember, you must notify buyers that a house has been fire-damaged and this is usually a big interest killer in prospective buyers.
So What Are Your Options?
Owners of fire-damaged houses who want to bypass the difficulty of trying to sell their home in today’s poor, Coronavirus impacted market basically have two choices.
Option 1 – Repair the Fire Damage and Continue Living in the Home
Many victims of fire damage decide to stay in their homes but unfortunately many make this decision from the heart without really thinking about what the repair process might look like and cost.
Repairing fire damage can be very expensive and can take a significant amount of time. You will need to hire specially trained workers who are able to repair not just physical damage but smoke damage as well.
Smoke damage, while not often readily visible, is both extremely important to get rid of and often very difficult to get rid of.
Smoke damage must be eliminated because it is dangerous to our health and can lead to respiratory, skin and even eye problems.
And Don’t Forget the Insurance Company
Remember, during the repair of a fire-damaged house you will also need to work closely with your insurance company – which can be a very frustrating process, in and of itself.
Many insurance companies move slowly and “drag their feet” when releasing your funds, which can slow down the repair process even more.
Plus, if you select the wrong contractor you may face additional project delays or shoddy work that must be fixed.
The end result is repairing a fire-damaged house can be a stressful process. So be sure to really think about what the process entails before making a decision.
Here’s What to Do First …
The first thing you should do to help you decide is have a qualified inspector come in and survey your house so you can know the full extent of the damage that will need to be repaired.
This information can help you make the best decision for you and your family.
Option 2 – Sell Your House to We Buy Fire Damaged Houses
Another option for owners of fire-damaged houses who do not want to go through a long, uncertain selling process or a long, uncertain repair process is to sell their home directly to We Buy Fire Damaged Houses.
With We Buy Fire Damaged Houses there are:
- No seller commissions
- No stressful wait
- No hassles
- No expensive repairs
The company is experienced in helping homeowners with difficult or rapid real estate transactions … and we can help you avoid the uncertainties that accompany trying to sell a home yourself or through an estate agent, such as not knowing “when” or “if” your house will sell or for “how much.”
Fill out the form below to see how much you could receive by selling your house to We Buy Fire Damaged Houses.