Are you a victim of a disastrous fire in Las Vegas that caused severe damage to your house, or real estate property, and plan on moving on with your life as your next step? If so, some of the common first steps many consider are selling the house, which seems like a big challenge after such terrible tragedy.
Thus, we lay out three ways to sell a fire damaged house.
1. Selling Your Fire Damaged House to A Cash Home Buyer
If you want to skip the hassle and stress of restoring a fire damaged house and look after your and your family’s state and well-being, you’ll want to consider selling your house “as is” to an experienced and reliable direct home buyer like Gr8housebuyers. You won’t need the funds to pay for repairs of any smoke and fire damage. They have the knowledge and experience to deal with any damage they might find in the house, and they are happy to work with you to close as quickly as you need so you can address the other matters you have to deal with in your life after that traumatic event. With a direct home buyer, you won’t need to deal with waiting for an outcome to sell your fire-damaged house. They pay you all cash with no commissions, no closing costs, and no other Seller hidden fees.
Keep in mind a fire-damaged house will likely not get you retail value, but experts like Gr8housebuyers can give you a justifiable fair price depending on the amount of fire damage the house has. You won’t have to deal with a single repair and wait for months to sell your house and get a fair offer. If saving funds, time, hassle-free simple transactions count for your family’s current situation, selling your house to a cash home buyer is the best option to consider.
2. Working with a Real Estate Agent and Waiting To Sell Fire Damaged House
Selling your house in Las Vegas for the highest amount of money attainable in the current market is possible if you’re willing to cover the costs of repairs and upgrades. But there is more to restoring a damaged house. Many homeowners struggle for the other following reasons:
• You have to consider your home insurance and what repairs it can cover. If your policy covers the repairs for all of the damage, determine if your insurance company can cover the costs of any alternative housing while you or your family are waiting for the home repairs to be completed and be livable again.
• You must disclose to buyers that the house went through a fire and this could affect the speed and price of your sale. Many buyers are wary when they hear “fire damage” and might pass on even looking at the house, even though you’ve spent a lot of time and money to have it restored.
• Your property may remain unsold for an extended period, during which you will be responsible for the holding charges. All of your investment money will likely be lost if the market changes and home values decline.
It is important to assess if you can get the money you invested in the house after all the repairs and the time you rendered.
Also, anticipate that your agent’s commission (4-6% average in Las Vegas), closing costs (1-2% of the sales price), inspections ($300-$730 depending on the size of the house), and anything the buyer requests to be changed before close will come directly out of your pocket. Nevertheless, selling a house that is fire-damaged on the market is always an option, but in most case better to sell to a local professional investor that has dealt with fire-damaged properties.
3. Selling Your Fire Damaged House For Sale by Owner
Do you want to sell your house yourself (FSBO) to save some money on commissions, closing costs, and other listing fees? It’s an option that is viable, even if you’re not an experienced home seller, because there are established and trusted companies like Gr8housebuyers that can facilitate the process and make selling a house much easier. Some of the factors to assess which can be a pro or a con depending on your standpoint are the following:
• Las Vegas, Nevada has strict rules about fire disclosure when you are selling a house or rental property. You must be aware of legal matters and state laws to ensure you meet the legal requirements.
• You will manage the marketing to sell your house including the design, flyers, posters, signage, etc. and that can be time-consuming.
• You make your pricing strategy, which may be challenging without a real estate professional.
• You have to communicate with a title company, home inspectors, and appraisers.
• You have to make time to entertain and negotiate with every potential buyer without compromising your safety and privacy in those moments.
• You may be on the hook for offering a competitive agent commissions or other listing fees.
Some folks find it smart to learn how to sell their house on their own. It’s vital to determine the pros and cons so you do not end up having liabilities if any of the legal steps are missed. It is expected as well that there are additional steps to take in selling a fire damaged house compared to a move-in ready house. Take into consideration your time, capability, and preference in doing the For Sale by Owner with your fire damaged house.
You have multiple options available, so call around to get quotes and don’t sell to the person that is pressuring you.
Talk to a qualified home buyer like Gr8housebuyers that is patient and works on your schedule.
Hence, never think that you can’t sell your fire damaged house and get a fair offer. Gr8housebuyers, is a premier real estate investment company can help you and present you with multiple options to make your tough situation simple. It actively buys houses that are difficult to sell or need to sell quickly and compassionately assists homeowners. With Gr8housebuyers®, you can sell your fire damaged house fast for cash, in any condition, help you save costs, and make moving easier. For any inquiries about what they can offer for a fire damaged house or any other fire damage real estate property, you may contact (702) 291-7577.