When homeowners are looking to sell a home affected by a fire, they are faced with two options: sell it as-is or repair the house. Though the easiest of these two is to sell as-is, the convenience is often outweighed by the extreme loss of profits.
How The Market Responds
The average consumer looking to purchase a house is overwhelmed by the thought of repairing a property that has been damaged by a fire, and most investors steer clear of fire-damaged dwellings; resulting in the buyer market for these homes being extremely limited and highly competitive. Even if a buyer is willing to bid on a fire-damaged house, the expectation is that there will be a considerable discount given. Thus, further decreasing the homeowner’s chances of selling and any potential profits they hoped to make.
Even with insurance, homeowners in Texas paid on average $2,200 plus material costs in 2017 to replace and repair their homes after a fire. Fire damage is considered to be one of the most difficult and costly conditions for homeowners to face. Aside from the actual fire damage, repairs due to smoke, flooding and even mold are often found in the aftermath of a fire.
According to the National Fire Protection Associate, from 2011 to 2015, there were 358,000 home fires in the United States, which resulted in $6.7 billion in damage. Then there’s the cause of the fire that needs to be remedied. Was it an electrical fire, a decaying fireplace or broken radiator? These costs can quickly add up and often make the homeowner choose been rehabilitating the property or paying the mortgage.
Fire damage is a significant obstacle for homeowners looking to sell, and we know just how much of a headache it can be to resolve, which is why SellYourHouse.biz pays cash for fire damaged properties. We regularly buy houses in any condition – even with light to extensive fire damage. We have trained and licensed professionals on our team who can fix these issues, and it doesn't cost the seller a dime. We handle all structural and cosmetic damage done, and the seller gets to pick up their check within a week of calling us.