How can I sell my house with fire damage? When it comes to fire damage, homeowners have a lot to deal with. They’ve probably been through quite a traumatic experience, and now they’ve got this property that’s been burnt and they’re not sure what to do with it. Okay, a couple of options. First, no matter what you do, you’re going to want to make sure that you disclose that there was a fire. Even if you sold the house without them finding out, the neighbors, everybody’s going to tell them. They’re going to find out later, make sure you disclose and let the new buyer know there was a fire at the property.
All right, so what are my options now? First, how do you want to sell it? If you want to sell it as a move-in-ready property, then you need to do the repairs. You need to find a company who has experience repairing these types of properties, because it’s different than just a regular renovation. There are definitely structural concerns, you get to the right permitting process, you get the city to sign off that you can rebuild the property. It’s going to take a while, and often it’s tens of thousands of dollars, depending on the extent of the repair. You need to do it right and you need to make sure that it’s safe for the next person moving on.
Okay, don’t really feel like doing that, option B is to sell it to an investor. Now, here’s a tip, not all investors buy fire-damaged properties. If you’re talking to them, you need to just ask them, “Do you buy properties with fire damage?” If they start hemming and hawing back and forth, it’s probably not your person, okay? How many have you bought? If they say hundreds of them, then they’re lying, because it’s not something that we do all the time. If they say zero, well, then they don’t really buy properties with fire damage. Find somebody with the experience because not everybody does buy them. Even investors, not everybody buys them, but you have options to do it. Make sure you disclose it either way.
Then if you commit to repairing the property yourself, make sure you go through the right steps and processes to get your right permits and make everything safe, or if you don’t want to spend the money and take the time, find yourself a local investor who has experience buying fire-damaged properties, have them come over, have them make you a cash offer. It’d be much faster. The bigger port for most people is that it saves them all of the out-of-pocket expense.
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