If your home experiences fire damage, you’re left wondering what to do with it. Many people may find themselves wondering, “Can I sell my fire-damaged house?”
With the option of cash home buyers in Memphis, it is possible to sell your home. That said, it’s important to consider your situation to determine if it’s the best idea.
Can You Sell Your Home With Fire Damage?
If you’re wondering, “Can I sell my fire-damaged house?” the answer is, “Yes.” However, it’s often more difficult to find a buyer for damaged properties. Fire damage can be expensive to repair, and so most buyers might hesitate to make a purchase. As such, you’ll want to take the time to consider your situation and determine if selling or repairing would be a better option.
Selling vs. Repairing
Before you proceed with any actions, you must undergo inspections after the local Memphis fire department and other regulatory agencies determine if it is safe to enter and inspect the premises.
Afterward, you’ll want to dive deeply into the extent of the damage. Sometimes, fire damage is minor and does not cause significant damage to the house’s structure. Other times, the damage might be significant, but your insurance will still cover repairs.
However, for most homeowners, this degree of repair is unimaginable and can lead to feeling overwhelmed, burnt out, and leaving a financial hole in their pockets. For this reason, it’s a wise decision to consider selling your home as is.
How To Sell Your Fire-Damaged Property
To sell your home, you must first complete the necessary inspections from the fire department to ensure fire safety. After that, you can determine whether you want to complete any repairs. You can always complete minor repairs that may boost the value of your home without breaking the budget.
Some homeowners complete a full restoration and repairs before selling the home to reap more monetary gains. However, even if you complete repairs, you must disclose the original fire damages and provide records of repairs.
Finally, you can sell “as is.” Selling “as is” is when a reputable property buyer purchases your property from you in the exact condition without expectation of any repairs (unless previously agreed to in a real estate contract). Typically, with selling as is, you can get a cash offer, so you know what you’ll get from your prospective home buyer. In addition, it can help reduce your stress concerning repairs since you won’t be required to make any restorations before selling your property.
Rely on an Experienced Memphis Area Property Buyer
House fires are nothing short of overwhelming, so quit wondering, “How can I sell my fire-damaged house?” and get the help you need from an experienced real estate investor.
Whether you’re selling a house during probate or need a cash offer for a fire-damaged home, call Alan with Pyramid Properties at 901-504-5555, who will help provide all the necessary information to sell your house for cash today!