When all that’s left of a household is smoke, ashes, and wreckage, all you can think about is how the money you invested has burned to ashes. And then another thought will sink into your brain: Who buys fire damaged homes now that the property is more than not livable, with more impairment than worth the fix.
Don’t panic. Or at least, don’t faint. You have options.
Calculating structural losses along with property losses after the fire might be enough to make anyone want to crumble to ashes as well. But there is still a way to either restore it or sell it. All options have to be done to maximize the asset’s capacity rather than lose its value.
In repairing a fire damaged home, the very thing to do is call the insurance company and find out the coverage of repair the policy allows. In restoring a fire damaged home, it is not as easy as rebuilding a tree house. It’s a lot more work than when you acquired it. For instance, you have to see if there has been any structural damages, water damages, electrical damages, environmental damages, plumbing, and many more things which are not thought of before the fire. Repairing and restoring it is not a matter your wallet just shrugs it off because it’s going to cost you a lot more than the property’s initial value, depending on how bad the equipment casualty is. It can be really time-consuming and would involve lots of hands — general contractors, city inspectors, and insurance claim adjustors to name a few.
The other option, which is also the most convenient way, you have is to sell it and this is when you ask yourself who buys fire damaged homes? Depending on how bad the damage is, you can sell the house as it is. If only a small part of the house has been affected, an as-is sale can be possible. If you have a fire insurance policy, you will have a substantial payout for the fire-damaged house. When you add it up to the sale through a Certified Cash Home Buyer like Anchored Homes willing to purchase the property as it is, the sum could be equal to the property’s market value if it were sold without fire damage.
However, to appeal more to the market, repairing the fire-damaged household before selling can be sold at a higher price. There are some investors who avoid dealing with fire-damaged homes and buyers will expect a big discount unless if you repair it. This is why finding a Certified Cash Home Buyer after asking who buys fire damaged homes is important. Selling the property would stop you from worrying about liability insurance when someone decides to have a look at the building and accidentally hurts themselves on your lot. Selling it could take some weight off your shoulder because you won’t have to be distressed and uncomfortable in returning to a house after restoration. The fire damage has already been done. However, there is no need to feel hopeless. There are options to decide from on how to deal with a fire damage house that can help you get back on your feet.
Anchored Homes is a Certified Cash Home Buyer ready to buy your fire damaged home as-is, where-is in as little as 14 days.