There are 350,000 house fires every year, according to the National Fire Protection Association. A fire is, hands down, one of the most traumatic experiences you may endure as a homeowner or otherwise. A fire’s not the end of the road, though. After a big fire, many property owners want to sell. They want to wash their hands of their fire-damaged property and be done with the mess.
Believe it or not, that’s entirely possible. You can sell a fire-damaged house for real money.
Should You Repair Fire Damage Before Selling?
In most cases, you’re likely to get more money from the sale by repairing the fire damage. Of course, doing so means spending a lot of money—perhaps more money than you have available in your savings.
Of course, it’s only really important to make such repairs and renovations if you’re selling on the market using a real estate agent. The agent, whose income depends on your sale, will ask that you make necessary repairs for the best return possible.
When to Sell As-Is
There are, however, cases when selling a home as-is could be your best option, such as when selling to a real estate investor. You’re not required to make any costly repairs or renovations, and you can sell the property in its current state.
In some cases, selling right now may be your only option. You may have no equity in the home, or the cost of the restoration could leave you unable to repay your mortgage.