Selling a fire-damaged house can be quite challenging; however, it is possible. Although it takes some factors to sell any property, fired-damaged homes attract investors and homebuyers who want a bargain. While you can choose to renovate your damaged home before putting it up for sale, it requires disclosing all fire damage.
If you have decided to put your fire damaged house for sale, here’s how you can sell it fast:
Take Advantage of the Location
Real estate buyers and investors want convenience. Thus, the proximity of your property to shops, employment opportunities, public transportation, and school are strong selling points. A lot of buyers may want to buy a burned house in a prime location and restore its original condition. When marketing your home, emphasize its location and regardless of its damage, a lot of possible buyers may want to build a new house on the lot.
Sell Before the Home Inventory Increases
Low inventories help in driving the prices of homes higher. In areas that have low home supplies, a low housing inventory can create more demands for available houses. If your home has been damaged by fire, sell it before the inventory of houses for sale in the area increases. This is usually possible in the spring. Work with your real estate agent in finding possible buyers with cash who do not need financing.
Take Advantage of High Demand
An increase in demand combined with low supply is often great news for people who want to sell their fire-damaged house. Burned homes in areas where the housing market is in high gear usually sell at a fair price. Also, you can take advantage of the market where homebuyers are aggressive about buying a house but can only choose from a few options.
Know Who you are Selling To
People who may want to buy your fire-damaged house as-is include cash buyers and those with qualify for a renovation loan. But, you can also sell your house to a reputable real estate investment company for a good price. Before putting up your home for sale, get it professionally inspected to evaluate the text of the damage. Home sellers are required by state laws to give a property condition disclosure statement to buyers. In addition, giving a possible buyer an estimate from a reliable contractor on the cost to repair all damages can help in selling your home fast.
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