Selling a Fire Damaged House in Fort Myers
Every 24 seconds, a fire department responds to a fire somewhere in the United States. Although fires have decreased significantly since the 1970’s, the National Fire Protection Association (NFPA) reports that 356,500 home structure fires occurred in 2020, with an estimate of over $8.4 billion in property damage*. If you or someone you love has been a victim of a fire that caused major damage to your property moving on may be an important next step in your healing process, but selling a house in Fort Myers with fire damage may seem like too big of a challenge after dealing with such a traumatic event.
How To Sell a Fire Damaged House?
When a house fire causes only minimal damage that is mainly cosmetic, a realtor may tell you to slap some paint on the damage and call it good. But before you do that, consider the legal repercussions. Potential buyers will need to be told about any fire, smoke, and flooding damage that occurred in your home, and a specialized inspection might be requested to ensure that the damage was properly taken care of and is move-in ready.
For other homeowners, selling a house with a traditional agent “as-is” might not be possible due to the extent of the damage caused by the fire. Fire, smoke, and water can take a toll on the structural integrity of your home, and the safety of the property must be considered when deciding how to deal with repairs before the property is put up for sale. If the cost of the repairs is too much for your situation, a direct cash home buyer like Sell My House Now USA might be the right option for you.
Restore Or Sell As-Is?
When selling a fire damaged home or property, Fort Myers homeowners have two options: restoring the property to its previous condition to sell with a local real estate agent or selling their home “as-is” to a cash buyer. While selling your house for the most money possible with an experienced agent may sound like the ideal, the reality is that you’ll have to wait months for a contractor with experience in the restoration of fire damaged homes to start on the repairs.
Once the restoration is complete, you may have to wait even longer for the city to find time to inspect the property for code violations. If they find any, that’s more time waiting for your contractor to do what’s necessary to bring the house up to code before the city finally gives your property the okay.
Between repairs, inspections, and your local area’s licensing and code requirements, you could find yourself spending a lot more money and time on a fire damaged house without much of a return from the final sale. Even if your policy covers the repairs for all of the damage, your insurance company still may decide they don’t have to cover the costs of any alternative housing as you wait for the repairs to be completed and your home to be able to be lived in.
For many homeowners, the amount of money they’re forced to spend out-of-pocket just isn’t viable. If this sounds familiar, a fast and straightforward solution for selling your fire damaged home might be the best option for you.
Tips For Selling a House with Fire Damage in Fort Myers
- Explore Your Selling Options
Did you recently suffer a fire and now you want to know your options for selling a fire damaged home or property? Whether you’re thinking about skipping the hassle and stress by selling your property as-is to a direct home buyer, or you have the money and time to restore your home to sell it with a traditional real estate agent after the repairs are complete but you’re not sure you want to wait that long, learn about the pros and cons of your selling options below.
- Clean & Restore The Home
If your property in Fort Myers has experienced significant damage due to a fire, the thought of investing time and resources into its restoration may feel overwhelming, especially after enduring such a traumatic event. However, the potential financial rewards of refurbishing a fire-damaged property to prepare it for sale can make the endeavor worthwhile. By thoroughly cleaning the property and completing essential repairs following extensive fire and water damage, you can enhance its market value and attract higher offers in your local area. Presenting a property that is in excellent condition can expand the pool of potential buyers and spark competitive bidding, potentially driving up the final selling price of your home. Collaborating with a skilled real estate agent will provide you with access to a network of industry contacts, allowing you to promote your property even before it is listed on the MLS. This proactive approach can shorten the time your property spends on the market and improve its chances of a swift sale.
Restoring a damaged house to make it market-ready can be a challenging task for many homeowners. Disclosing that the property has been through a fire can significantly impact the speed and price of the sale. The term “fire damage” can deter potential buyers, leading to extended time on the market. This prolonged listing period incurs additional holding costs, which directly impact your finances. Moreover, market fluctuations may devalue the property, jeopardizing your investment. Collaborating with a real estate investor and direct home buyer specializing in damaged properties could prevent these financial setbacks. By working with professionals experienced in such transactions, you can avoid the uncertainties associated with selling a fire-damaged house on the open market.
- Repairing A Fire Damaged Home
Homeowners in Fort Myers who undertake all necessary expensive repairs and upgrades to ensure the safety of the next occupant may inadvertently decrease the attractiveness of their property to investors. Direct home buyers and real estate investors typically seek properties at a discount to renovate themselves and later sell for a profit. A crucial factor for these investors is ensuring that the work has been completed correctly and up to code initially. They often have a network of trusted professional cleaners and skilled contractors who specialize in handling properties affected by smoke, water, and fire damage. Due to these established relationships, investors can expedite the repair process, unlike traditional homeowners who may face lengthy delays. Companies such as Sell My House Now USA, experienced in extensive property restorations, can efficiently complete repairs to the investors’ standards, facilitating a quick turnaround for selling the property at a later date for a profit.
- Disclosing Fire Damage To Potential Buyers
When you sell to a cash home buyer with experience in fire damaged homes, you won’t need the funds to pay out-of-pocket for repairs of any water, smoke, and fire damage. There are even real estate investors who are specifically interested in buying fire-damaged houses in Fort Myers. Since we are locally based Home Buying Company in Fort Myers, we have our team of professionals lined up to make the repairs or restore the home to be habitable again. They have the knowledge and experience to deal with whatever damage they might find during the restoration process, and they are happy to work with you to close as quickly as you need so you can move on with your life. With a direct home buyer, you won’t need to deal with traditional bank financing or a mortgage lender for your damaged Fort Myers area property. Because direct home buyers use their own cash to purchase investment properties, they can close as quickly as you need. Our office is centrally located off Colonial Blvd and Summerlin Road in Fort Myers. We can easily meet with you at your property or you can come sit down with us in our conference room.
But there are also cons when it comes to selling a house directly to a cash home buyer as-is. With an investor or direct buyer, you’re not going to get the full market value for your house like you would if you restored it and sold it through a traditional agent. The pool of potential buyers who purchase fire damaged houses is small, leaving less room to negotiate the selling price. This could cause you to lose out on a potentially larger return on the sale of your property at a later date if you had spent the time and money to restore it.
In the end, it’s only you that can decide which option is right for you. Would you rather leave the stress and hassle to a professional like Sell My House Now USA, or do you have the time, money, and energy to complete all the necessary repairs to make your house safe for a potential buyer at a later date?
Can You Sell a House with Fire Damage As-Is?
Yes, you can! With a direct cash home buyer you will:
- Never have to spend any money for inspections and repairs. No need to wait months for approval of renovation plans and permits with the County building department.
- Save yourself hours of time and stress by selling directly to Sell My House Now USA. We’ll handle it for you!
- You won’t be on the hook when the house is sold to a traditional buyer. Once you sell the property to us, it’s our problem to deal with.
The Quickest Way to Sell a House After a Fire
Selling Your House to A Cash Home Buyer
Tired of dealing with the hassle of restoring a property damaged in a fire? Prefer to have someone else manage contractors while you focus on rebuilding your life? Consider selling your house to a trusted and reliable direct home buyer. While you may not receive full retail value for your property in Florida, you can avoid the stress of handling repairs.
Working with a Real Estate Agent
Selling your Fort Myers home for the most money possible in the current market isn’t impossible if you’re willing to pay for repairs and upgrades to bring your house up to code. If you have the time to wait for contractors and repairs to complete the necessary work, make sure that you’ll get the money you put into the house back at the final sale. Your agent’s commission, closing costs, inspections, and anything the buyer requests be changed before close will come directly out of your pocket.
Selling Your Fire Damaged House For Sale By Owner
Looking to save on commissions and sell your house yourself in Fort Myers? It’s important to know that Fort Myers has strict rules regarding fire disclosure for house or rental property sales. You must ensure compliance with these legal requirements and handle all paperwork correctly to avoid potential liabilities. Missing any of these steps could put you at risk, so it’s crucial to proceed with caution.
Sell Your Fire Damaged House Today!
After a home fire, one of the most important actions to take is assessing the damage to the property as soon as safely possible. You’ll need to consider any structural damage that might have been caused by not only the fire, but also smoke and water. When you start a claim with your insurance company, they’ll send out a professional insurance adjuster to have the property inspected. Your insurance adjuster will assess the extent of the damage and decide what insurance will – and won’t – cover.
It’s at this point in the process that Fort Myers area homeowners that have suffered such a traumatic event can be doubly stunned when they discover their insurance won’t cover all of the costs of repairing their home. For those homeowners with less than stellar policies, they might not be able to afford (or don’t want to pay out-of-pocket) the cost of a professional cleanup and repair. If this sounds familiar, selling your fire damaged home directly to a direct cash home buyer or real estate investor like Sell My House Now USA might be the best option for you.
Contact a real professional – Sell My House Now USA | (239) 360-3176