Nobody ever expects their house to catch on fire, but it can and does happen. It’s a terribly distressing event that commonly occurs due to lightning strikes, candles left unattended and holiday decor sparking a dry tree—just to name a few. Whatever the cause was, if you need to sell your house but it has been touched by fire, try not to worry. There are a couple of ways to sell a fire damaged house. One is to sell your home to us here at Osborne Homes and the other is to sell it on the traditional real estate market. Let’s go through these together below.
Option #1: Sell your home to Osborne Homes ✔
Selling a house with fire damage could not be easier. If you are in a hurry to sell and therefore don’t have time to deal with insurance company delays or extensive repairs, probably your best option would be to contact us here at Osborne Homes. We buy homes in any condition, we close FAST and we pay ALL-CASH. This is your chance to sell your home that needs repair without paying for or doing any of the work!
Option #2: Sell your home on the real estate market
When you’re under stress you go to the familiar. So, while Osborne has always been here helping homeowners just like you to sell their homes fast, some homeowners don’t know any other way than to just list on the traditional real estate market. Here are the steps involved in getting your home sold that way.
Going through the loopholes of homeowners insurance
Chances are, you had to secure a mortgage on your home when you bought it. Since lenders have financial interest invested in the properties they finance, they require their borrowers to have a homeowners insurance policy. If your house catches on fire, you are going to want to call the insurance company immediately.
Homeowners insurance customarily covers accidental fires in and around your home, and as large of an investment as your home is, you probably won’t mind paying the average $140 per month for a policy to protect it. In the event you need to employ that policy, here are the steps you might want to take:
1. Review your homeowners insurance policy to see what is and isn’t covered.
2. Report any damage as soon as it happens, even if the damage seems minor.
3. Take pictures of the damage for your records.
4. Cooperate with the insurance company during their investigation.
5. Keep a detailed record of all expenses related to repairing or rebuilding your home.
What happens if you don’t have homeowners insurance?
It’s not common for a homeowner to be without insurance, but in rare occasions cash payers might not have secured or kept a policy. If this is you, we have some bad news: you are going to have to cover all of the costs to repair the home out of your own pocket. Unless, of course, you sell to Osborne Homes. We will buy your house that needs repair just as it is – charred carpets and all. Otherwise, read on to find out all about the costs for making the repairs.
The costs to repair a fire damaged house
A fire restoration company will know how to repair a house with fire damage best. Most of the damage is going to be from the soot, which is the black smoke that covers everything from walls and floors to furniture and drapes. But the damage will likely be much more than that.
According to the widely known home-pro finder, Angi (formerly Angie’s List), fire restoration services cost between $4 and $6.50 per square foot and the average cost to repair fire damage to a home in the U.S. is $19,302. Here are the individual costs this cover for some of the things that may need repair:
| Type of Damage | Cost |
| Soot Removal | $2,000 – $6,000 |
| Kitchen Rebuild | $25,000 – $40,000 |
| Drywall Installation | $1,000 – $3,000 |
| Roof Repair | $1,000 – $3,000 |
| Roof Replacement | $2,500 – $6,500 |
| Water Damage | $1,000 – $4,000 |
| Furniture Deodorizing | $200 – $1,000 |
| Foundation Repair | $500 – $7,000 |
| Floor Repair | $400 – $20,000 |
| Electrical Repair | $900 – $3,000 |
Where to go while you wait for the house to be repaired
Whether you have a policy of homeowners insurance or you are paying for these repairs with all your life savings, there is one more thing you are going to need to figure out, and that is where you are going to stay while all of the repairs are being made. With the fire restoration company on your side, at least you don’t need to know how to repair a house with fire damage yourself but you might be out of your home for quite some time. Fire causes some of the most extensive and time consuming damage to have fixed. It could be up to, or even more than, a year before you’re able to move back in your home or sell it. If you don’t have any family or friends who can take you in, your homeowners insurance will likely cover the cost for a hotel stay. Call them up for details.
Prepare your house for sale
Once the restoration process is complete, you can start preparing your house for sale. Here is a general idea of what steps you will need to take to do so:
1. Have your home inspected and make any more necessary repairs.
2. Clean the entire house from top to bottom.
3. Stage your home to make it look as appealing as possible.
4. Price your home correctly based on market trends.
5. Market your home to potential buyers through online listings and/or real estate agents.
6. Negotiate with potential buyers until you reach an agreement.
And don’t forget to disclose the previous fire damage to potential buyers! Be prepared for a lower offer because of it too.
Forget all that and sell the fire damaged house to Osborne Homes!
You might wonder why in the world you would ever go through a traditional sale when selling to Osborne Homes sounds so great—with not needing to make repairs, getting all cash for it and closing fast. Selling a house with fire damage can be so easy. But the truth is, many people don’t know they have a choice. Well, that ends today. Hopefully this post came across your view just in time! Sell your house to Osborne. Call our team today to fill us in on the details of your property and we can get started right away.
