Selling a house that has been damaged in a fire can be daunting to the owner. There are usually, two options in dealing with a fire damaged house: either to repair it or sell it as it is. Often the choice is made depending on the extent of the damage and whether there are prospects of claiming through insurance, this can, of course, take time and resources to the owner of the property, if there is a shortfall between insurance payout an estimated repair costs, agreeing on a settlement with the insurance company and selling the damaged property can be a good solution.
Structural Damage to a House from Fire
Most of the time, if a property has been damaged by fire and has caused structural damage, the property is sold on as it is, rather than commit time and money into resolving the damage, especially if it has caused further structural damage.
Anyone that owns a fire damaged property has a responsibility to ensure there is no risk or harm to the public.
If the property is not cleared of debris and lose materials the council can fine you.
Fire damaged properties carry a lot of liability and can be prone to additional vandalism which can encroach on nearby properties and thus cause loss of value by laying empty.
Sometimes homeowners may want to use a clear up company that specialises when they have a fire-damaged home. Clear up companies are properly trained and can help with stress and upheaval of selling your house. This would normally be a good starting point for the owner.
How much does a fire-damaged house sell for?
Fire damaged properties usually sell at the trade end of the market, this is because they are very difficult to sell on the open market. However, selling to a local company like us means that the worry of waiting for the right buyer is taken away. Mark King Properties can make a cash offer and are very experienced in purchasing fire damaged properties at a fixed price.
Many owners that have had fire damaged properties approach us because they know they will be achieving a fixed price by a set date – usually within 7-14 days. We can also release some funds as soon as you sign a contract with us so that you can have some cash to put your finances in order. We offer an alternative to the uncertainty of the open market- as sometimes buyers can pull out after they make an offer or after survey. We guarantee a fast house sale at an agreed date that suits the seller.
Due to the nature of some fire damaged houses, they become unsuitable for mortgage lenders, therefore a cash purchase by Mark King Properties could prove to be a more convenient and stress-free way to sell. Mark King Properties of Wales understands the local market and has sources locally to begin a structural clear up and fix of the fire-damaged property.
If the seller of a fire-damaged house has a valuation report provided by an insurance company then this is very useful, if this is not the case then we will value the house based on other sold house prices on the streets nearby and deduct costs for the repair of damages, which will vary case by case.
Our aim is to provide some certainty and financial help when you need it most. Feel free to get in touch if you have further questions or would like a quote then click-here to get a free valuation.
We will give you a call promptly and go through your property to help find a solution for you.