The first thing you need to know about selling a house with fire damage is that it can be difficult to do.
But don’t worry, at the end of this article we are going to explain an easy way to sell a house with fire damage for a great price.
First though, when it comes to selling a house with fire damage you need to understand that most buyers simply arent’ willing to do it.
Most have a strong aversion to buying any house that has suffered a fire – there are just too many uncertainties involved. Were repairs made properly? Did damage go undetected? Is there remaining smoke damage that could harm their health?
Selling a house with fire damage gets even more difficult if you make any of the following mistakes that burned house owners often make. Be sure to avoid these selling missteps:
Mistake #1 – Skimping on repairs
Most owners of fire-damaged houses are concerned about getting their money back for any repairs that they make through their home’s sales price.
This causes many to “skimp” on the repairs to keep the cost down.
Either they use a cheap, poor quality contractor or cheap, poor quality material. They may also rush repairs and skip over minor repairs that won’t affect residents’ health.
All of these things are big mistakes. Buyers are already inclined not to buy a burned house. If they can still see fire damage or smell smoke damage they are going to be even more apt to avoid buying your house.
Poorly done repairs can undermine buyer confidence and cause them to make extremely low offers or, even more likely, to ignore your house all together.
Mistake #2 – Not informing the buyer about the fire
Most states require home owners to inform possible buyers about a previous fire. Failure to do so could land you in serious trouble – so don’t make this mistake.
Be completely upfront about the fire and explain exactly how the fire damage was repaired. You want to be fully transparent in order to build buyer confidence that the home is now better than ever after the fire.
Mistake #3 – Not staging the home correctly
When it comes to selling any type of house today there are a number of mistakes sellers are making. One of the biggest is not staging the home properly.
That means all fire damage should be repaired. You want the house looking better than ever. Once the repairs are done you need to tidy up the house inside and out.
Outside the home you should landscape and clean the walls so that the house has terrific “curb appeal.”
Inside, you should remove personal decorations and create as much space as possible so that prospective buyers can see themselves living in the home and making it their own.
Mistake #4 – Not taking and using good photos
You have to remember that today many buyers are looking for homes online and that really increases the importance of having good photos and a lot of them.
Good photos are crisp and clear and should be taken during the day when there is plenty of natural light available. The photos should also showcase your home’s best assets. One way to do this is to use a wide-angle lens if possible.
Mistake #5 – Setting too high of a sales price
The truth is when it comes to selling their house one of the biggest mistakes sellers make is setting an unrealistic price. Overpriced homes simply do not sell unless a market is red hot.
On the other hand, price your house too low and you risk leaving money on the table.
One way to resolve this problem is to work with an experienced real estate agent who knows your market well.
Just be prepared as an owner selling a house with fire damage to accept a lower offer than a similar house with no fire damage would receive.
You should also be prepared for your fire-damaged house to take longer to sell.
Mistake #6 – Not hiring a real estate agent
This goes along with mistake #5. Even though real estate agents charge a commission they more than make up for it in the ultimate sales price of your home.
In fact, research shows that real estate agents sell homes for 13% higher prices than people who sell their homes on their own.
Here’s just some of what a good agent can do for you:
- Help you set a fair and competitive selling price for your home that will increase your odds of a quick sale
- Take the high emotion out of the process by interacting directly with potential buyers, so you don’t have to
- Eliminate tire kickers who only want to look at your property but have no intention of putting in an offer
- Use their experience and negotiation skills to help you receive the best possible offer
- Handle any issues that crop up during the sales process
- Take care of all the paperwork and ensure the sales process goes as smoothly as possible
Mistake #7 – Not managing stress
Selling a home – especially if you’ve never done it before – can be surprisingly time-consuming and emotionally challenging. It can also be very stressful.
You will have strangers coming to your house and criticizing it. They may offer you less than what you believe it is worth.
With the recent Coronavirus Outbreak, it has become even more difficult to attract buyers.
Many won’t come to open houses anymore. You will need to properly market your home online with photos and descriptions.
The bottom line is during the sales process it is easy to become too emotionally involved.
This, in turn, can lead you to making many mistakes.
One would be becoming frustrated and accepting less money than your house is worth because you don’t believe you’ll get a better offer.
Ways to relieve stress include: meditation, taking up a relaxing hobby, listening to slow music, reading, massage, exercise and more.
Avoid Making Any of These Costly Mistakes
Another way to reduce your stress and avoid making any of the mistakes we mentioned above is to sell your house to We Buy Fire Damaged Houses.
Selling a house with fire damage “as is” to a company like We Buy Fire Damaged Houses can be a fast, convenient solution – and you may also get a much better price than you imagine.
Fill out the short form below to learn much more About We Buy Fire Damaged Houses and to receive a free quote on your burned home.