If you’re planning on selling fire-damaged property, the first step is to contact your insurance company. The insurance company can give you advice about the restoration of your property and may even recommend professional services. It’s also a good idea to clean the damaged property to attract potential buyers. While you should make some repairs, you can also sell your house after fire as-is. Many people will buy a home that’s in need of repairs and want to get the chance to make some improvements to it.
Why Need to Sell Your House After Fire
If you are thinking of selling fire-damaged property, you don’t have to worry about making repairs in order to make it pass inspection. However, you will need to disclose the fire damage to potential buyers so they can make an informed decision. The state will usually require the seller to prepare a Property Condition Disclosure Statement (PCDS) to let buyers know the damages. Nevertheless, if you’re an investor or real estate investor, you can sell the fire-damaged property as-is and avoid the costly process of repairing it.
Your insurance company should be your first call after a fire. They’ll advise you on what steps to take next. You may have to secure your property and shut off utilities until your property is restored. Water used to put out the fire can also result in mold damage, which adds to the costs of repair. The American Red Cross has a helpful guide on the process of selling fire-damaged property. So, what are you waiting for?