A house fire can be a traumatic experience for the owner, no matter the incident’s scale, emotionally and financially. It can happen to any home, in any area. In fact, in the United States in 2018, fire departments responded to a home fire every 87 seconds. Many pose a dilemma the flames have been put out: restore the house entirely, or sell the house with fire damage? Selling the house, of course, is the most straightforward solution in most cases. After the accident trauma, no one wants to deal with hiring contractors, managing, and just living through the entire process if it’s their primary residency. Unfortunately, having a house fire still carries a significant stigma in the marketplace, so selling a fire-damaged house can be very difficult.Restoring your house will take time and money but may result in a better selling price. Selling your home as-is will save you from dealing with restoration, but you may not get the money that you want for the home.
Sell Your Fire-Damaged House As-Is or Repair It?
The first decision you will have to make when selling your fire-damaged house is if you want to sell it in its current condition or if you want to invest in it and repair it before selling. This, of course, will be determined by how much damage was caused by the fire. There are many things to consider that may increase the repair costs: prolonged exposure to soot can lead to respiratory problems for repair workers, smoke damage can stain walls and ceilings, water damage, etc.Smoke can damage more than you may think; it can get into the ductwork, sheetrock, and almost everything. Getting rid of the smoke smell in a fire-damaged house often requires gutting the home. This is something that homeowners overlook; it is why they underestimate the total cost of the repairs that are needed. In larger fires, repair costs can result in $50,000, $100,000, and more.Now, what about your insurance? You have to remember insurance companies whose primary interest is their bottom line. You have to keep track of all developments throughout the long fire settlement process, so nothing important gets past you, like the costs of smoke damage we discussed previously.Many fire-damaged homeowners opt to sell their homes as-is to avoid the high costs of repairs and dealing with insurance companies. However, some investors steer clear of fire-damaged homes, so the buyer pool is tiny. Realtors report that buyers are sometimes hesitant to look at homes that have suffered a fire; they are afraid it could happen again.If buyers are hesitant, it can cause your house to go unsold longer than the average days on the market. The longer your house is on the market, the lower the chances of you getting offers close to the price you’re asking. Since most buyers need to borrow money, their lender will need to be assured that the fire’s cause has been fixed and that the house is fully restored.
You may be wondering who would buy your damaged house. Luckily for you, there are investors who purchase fire-damaged houses. These investors have teams that allow them to repair the houses faster and at a lower cost than you, as a homeowner, could. If you’re looking to sell a fire-damaged house in Charlotte, NC, Travis Buys Homes is your safest bet.When looking for the best home buying company, you’ve got to establish a genuine, legitimate, and experienced company that knows everything about the area. At Travis Buys Homes, we’ve been on the market for almost two decades. We don’t take advantage of people going through a difficult home-owning situation; our philosophy is to make the deal a win-win for both parties.
Travis Buys Homes is your answer if you’re looking to sell a fire-damaged house in Charlotte, NC. With our three-step process, we’ll make it easy and fast for you. Just contact us through either our website, Facebook, or a free call, we’ll schedule a visit to your home, make you an offer, and you’ll decide when to close the deal.We are built on integrity, so we will always be honest with you. Forget about the hidden fees and costs of real estate agencies. We’ll offer you a fair cash offer for your fire-damaged house even if it is in a bad location, and we’ll cover all closing costs
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