Maximizing value: tips for selling a fire-damaged property

Having a house fire, big or small, is challenging. If you were planning to sell, you now need to address the additional complexities of dealing with fire damage. The aftermath often leaves homeowners with tough decisions to make. Should you invest in repairs before selling or explore other selling options?

How to sell a fire-damaged house

When dealing with a fire-damaged house, homeowners typically consider two main options:

• Repair before you sell: If you’re planning on working with a real estate agent and want to list your house on the traditional market, you will likely need to fix any fire damage present in your home. Most potential buyers prefer a move-in ready property, and even interested buyers may ask you to make concessions or lower your asking price. This route takes a lot of time, effort, and money, especially if the damage is extensive. If you try to sell your house before making repairs, you may have trouble finding a buyer who can qualify for a loan.
• Sell to an off-market house buyer: Alternatively, you can sell your fire-damaged house in its current condition to an off-market house buyer company like We Buy Ugly Houses^®. Companies that buy houses directly specialize in purchasing homes quickly, often in less-than-ideal conditions, and providing homeowners with a straightforward and hassle-free selling process. While you will get a discounted offer on your house, you can save a considerable amount of time and effort that would be spent getting your house ready to sell by repairing any present fire damage.

Things to consider before repairing your home’s fire damage

Before you decide how you’d like to sell your fire-damaged house, you should ask yourself a few questions:

How bad is the fire damage?

Assessing the extent of the fire damage is important in figuring out your next steps. You should conduct a complete evaluation of your home. Keep an eye out for signs of fire damage, like smoky odors, soot, and charred or stained items. Damage can range from minor smoke issues to major structural problems that need large repairs.

What's involved in restoring a fire-damaged house?

Depending on the extent of the damage, fire damage restoration can involve cleaning up debris, removing soot and smoke residue, fixing structural damage, and dealing with water damage from firefighting. It's a detailed job that usually needs a professional fire damage restoration company.

How much does fire damage restoration cost?

The cost of fire damage restoration depends on things like how bad the damage is, the size of your house, and what repairs are needed. Insurance can help cover some of the costs, but it's important to know what your policy covers. Nationally, the average cost of fire damage restoration for a house is around $12,900.

Will your home insurance cover fire damage?

Homeowners insurance usually covers fire damage, but how much it covers can vary. Check your policy to see what repairs are reimbursed and how much of a deductible you need to pay. It's also a good idea to ask your insurance agent whether your policy includes additional living expenses in case you need a temporary place to stay.

Will fire damage affect your home value?

Fire damage can negatively impact your home’s market value. Factors such as the extent of the damage and the necessary repairs will play a role in determining the post-fire value of your house.

Do you need to disclose fire damage when you sell your house?

When selling a house with fire damage, you might have to legally disclose the extent of the damage, and any repairs made. Check your state laws to see if this is required. Being transparent helps ensure a fair deal and avoids legal problems later. Even if it’s not mandatory, it's a good idea to let buyers know about any issues.

Should you repair fire damage or sell “as is”?

Deciding whether to repair your fire-damaged house or sell it “as is” depends on a few factors. You will need to consider:

• Your finances: You may want to compare the cost of repairs with the potential sale price after repairs.
• Your timeline: Repairing a fire-damaged house can be time-consuming and stressful, while selling your house “as is” can offer a quicker resolution.
• Your expectations: Do you want a quick home sale, or are you more focused on getting the most value from your house? Your selling priorities will determine the best course of action.

Sell your fire-damaged house “as is” with We Buy Ugly Houses^®.

We Buy Ugly Houses is here for you when you want to sell your house with fire damage quickly. We’re off-market home buyers with over 29 years of experience, and we specialize in buying houses in many different conditions, including fire-damaged properties. Your house doesn’t need to be in perfect shape—you don’t even need to clean before we come over.

Our 3-step home-buying process makes selling “as is” simple and stress-free. Our offers don’t cost a thing and come with no obligations. Plus, we don’t charge any commissions or hidden fees^†.

Contact your local We Buy Ugly Houses property buyer today for a free consultation and see how simple it can be to sell a house with fire damage on a timeline that works with your schedule.

This blog is for informational purposes only and should not be considered legal advice.