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 Baltimore 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 primarily cosmetic, some realtors may suggest quick fixes, such as applying fresh paint or replacing a few damaged fixtures, to make the home presentable for sale. However, before you move forward with these temporary fixes, it’s essential to consider the legal and practical implications of doing so. In many jurisdictions, sellers are legally required to disclose any previous fire, smoke, or flooding damage to potential buyers, even if it seems relatively minor. Buyers are often more cautious than they appear and may request a specialized inspection to confirm that the repairs were properly carried out and that the property is safe and truly move-in ready. Neglecting to disclose this information can have serious consequences, including legal action or the voiding of the sale if the buyer later discovers the damage. Even seemingly minor issues could result in a long and costly dispute.
For homeowners dealing with more significant fire damage, trying to sell the home through a traditional real estate agent “as-is” may not be a feasible option. Fire, smoke, and water damage can severely impact not just the aesthetics, but also the structural integrity of the home, making it potentially unsafe or uninhabitable. This poses both safety concerns and financial challenges. Before listing the property, it’s crucial to assess the extent of the damage, determine whether repairs are feasible within your budget, and ensure that the home is safe for potential buyers to live in. In many cases, repairs may not be worth the investment, or the cost could quickly spiral beyond your financial capabilities. If this is the case or if you need to sell the property quickly, a direct cash home buyer like Perry Hall Investment Group might be the ideal solution. Cash buyers are often willing to purchase homes in any condition—whether it’s a fire-damaged property, outdated, or even in need of major repairs—without the hassle of long inspections, appraisals, or costly renovations. This allows homeowners to move forward quickly, avoiding the stress and expense of extensive renovations and waiting for repairs to be completed.
By opting for a cash sale, you not only avoid the burdens of fixing up the property but also speed up the process. This can be especially beneficial if you are in a time-sensitive situation or simply want to walk away from the property without dealing with additional headaches.
Restore Or Sell As-Is?
When selling a fire-damaged home or property, homeowners in Baltimore typically face two primary options: restoring the property to its original condition and listing it with a local real estate agent, or selling the home “as-is” to a cash buyer. While the idea of selling for the highest possible price with the help of an experienced agent may seem appealing, the reality is that restoring a fire-damaged home can be a lengthy, costly, and complicated process. Finding a contractor with the specialized expertise required to repair fire damage can take months, especially in areas where skilled professionals are in high demand. These professionals may also be juggling multiple projects, further delaying your timeline. Once the restoration work begins, delays are almost inevitable—whether due to supply chain issues, contractor schedules, unforeseen complications, or the discovery of additional damage that wasn’t immediately apparent.
Even after repairs are completed, there’s still the issue of the city’s inspection. The property will need to undergo an official inspection to ensure it meets local building codes, and if any violations are identified, you’ll face even more delays as your contractor works to bring the property up to code. This inspection process can often take longer than expected due to backlogs or scheduling conflicts with the city’s inspectors. Each step in the restoration—from repairs to permits and inspections—can stretch the timeline out for months, during which time your property sits vacant, losing value in the market. A house that was once attractive to buyers might feel less appealing as it remains off the market for too long.
Additionally, while your insurance policy might cover the cost of repairs, there are often unexpected expenses that are not included in the coverage, such as the cost of temporary housing while your home is being restored. This financial strain, coupled with the mental toll of managing repairs and coordinating logistics, can make the traditional route of selling a fire-damaged home feel overwhelming. On top of that, there’s no guarantee that, after all the restoration work and waiting, you’ll recover your full investment when it comes time to sell.
For many homeowners, the time, money, and emotional energy required to restore and sell a fire-damaged home simply aren’t viable options. If you’re facing these challenges, a fast, straightforward solution may be to sell your home “as-is” to a cash buyer. By doing so, you can bypass the lengthy repair and inspection process altogether, saving yourself from the stress and financial burden of restoration. Cash buyers are willing to purchase properties in any condition, allowing you to move forward without the headache of renovations and the uncertainty of waiting for the property to be market-ready. The peace of mind and certainty that comes with a quick, hassle-free sale can make all the difference when you’re ready to move on from a fire-damaged property.
Get an offer today, sell in a matter of days.
Tips For Selling a House with Fire Damage in Baltimore
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 house suffered major damage after a fire, spending the time and money to restore it can seem like a challenge that you don’t have the energy to face after everything you’ve been through. But when you consider the potential financial benefits of restoring a fire damaged property to make it ready to sell, for some homeowners the final sales price can be worth the effort. When you clean a property and do the necessary repairs to restore it after severe fire and water damage, you can maximize the house’s market value and sell it for the most money possible in your area. By putting a property on the market that is “move-in ready”, you drastically increase the number of potential buyers as well as increasing the chance of a bidding war that could drive up the final sale price of your home. With the right agent at your side, you will have the contacts to reach other agents before your house is even on the MLS. This can reduce the time your property is on the market and give your home a better chance at selling fast.
But the difficulties of trying to restore a damaged house to make it market ready is a steep hill for many homeowners. Because you must disclose to all potential buyers that the house went through a fire, this information could affect the speed and price of your sale. Many buyers are leery 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. The property could sit on the market for a while, and the holding costs come out of your pocket during this waiting period. If the market shifts and house prices drop, there’s a good chance that all the money you invested will go out the window, leaving you with more debt than you would have had if you had worked with a real estate investor and direct home buyer that specializes in damaged properties.
Repairing A Fire Damaged Home
Homeowners that do complete all of the expensive repairs and upgrades needed for the safety of the next occupant might also be making their Baltimore property less attractive to investors. Direct home buyers and real estate investors are looking to purchase properties at a discount so they can restore the homes themselves and sell them for a profit at a later date. Most investors need to know the work was done right the first time and is up to code. They have their own list of professional cleaners and experienced contractors they work with that they know have years of experience dealing with smoke, water, and fire damaged homes. Plus, because of their connections, they don’t have to wait for months for repairs like a regular homeowner would. Companies with experience in major restorations like Perry Hall Investment Group can get the repairs done quickly and to their specifications before turning the house over to sell at a profit at a later date.
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 Baltimore. 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 Baltimore area property. Because direct home buyers use their own cash to purchase investment properties, they can close as quickly as you need.
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 Perry Hall Investment Group, 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.
- Save yourself hours of time and stress by selling directly to Perry Hall Investment Group. 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
Rather not worry about the hassle of restoring a property that was damaged in a fire? Prefer for someone else to deal with the stress of managing contractors day in and day out while you are trying to put the pieces of your life back together? Then you’ll want to consider selling your house to a trusted and reliable direct home buyer. You might not get full retail value for your property in Maryland but you also won’t have to deal with a single repair.
Working with a Real Estate Agent
Selling your Baltimore 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
Prefer to save a bit of money on commissions and sell your house yourself (FSBO)? Baltimore has strict rules about fire disclosure when you are selling a house or rental property. You (and your pocketbook) will be on the line to make sure that you meet those legal requirements, as well as ensuring all of the paperwork is done properly before closing. If any of these steps are missed, you could be liable.
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 it’s safe to do so. In addition to evaluating visible fire damage, it’s crucial to also consider potential smoke and water damage, both of which can affect the home’s structural integrity. Water used to extinguish the fire can cause significant damage, leading to mold growth or weakening structural elements, while smoke can penetrate walls, furniture, and personal belongings, making it hard to gauge the full extent of the destruction. Once you’ve taken an initial assessment, the next step is to initiate a claim with your insurance company. An insurance adjuster will be sent to inspect the property and assess the damage, determining what will and won’t be covered under your policy.
For homeowners in the Baltimore area who have experienced this unfortunate event, the process can quickly become overwhelming, especially when they discover their insurance policy won’t cover all the costs of repairs. While some policies offer substantial coverage, others have limitations or exclusions, leaving homeowners to shoulder unexpected costs. This can be especially shocking for those who assumed they had comprehensive coverage only to find out that critical repairs, like structural fixes, smoke remediation, or mold treatment, might not be covered. For homeowners in this situation, the financial burden of professional cleanup, repair, and restoration work can be a significant hurdle, and many may be unwilling or unable to pay out-of-pocket.
If you find yourself in this predicament, selling your fire-damaged home directly to a cash home buyer or real estate investor like Perry Hall Investment Group might be the best solution. Cash buyers are typically interested in homes in any condition, including those that have been affected by fire, smoke, or water damage, and can provide you with a fair cash offer without the need for repairs. This option eliminates the stress of dealing with contractors, insurance claims, and lengthy restoration processes, allowing you to move on from the property quickly and without the burden of expensive repairs. Selling directly to a cash buyer can be a practical, straightforward way to avoid further financial strain and get a fresh start.
Contact a real professional–Perry Hall Investment Group | (410) 989-5200