Every 24 seconds, a fire department responds to a fire somewhere in the United States. Despite a significant decrease in fires since the 1970s due to improved safety measures, the National Fire Protection Association (NFPA) reported 356,500 home structure fires in 2020, causing about $8.4 billion in property damage*. If you or someone you know has experienced a fire that resulted in significant property damage, we understand the challenges you may be facing. Selling a fire-damaged house in Texas might appear daunting and emotional, but Tag Team Property Solutions is here to support you in taking the next steps.
We’ve worked with many homeowners in San Antonio to buy their fire damaged properties. We’ve seen it all, from light cosmetic damage to extensive structural damage. We bought a house in Alamo Ranch that had its roof completely burned down. It sat exposed and vacant for months and became more damaged from mold after heavy rains got into the house. Struggling to sell, the owner was also on the brink of foreclosure until we stepped in. We gave her a fair cash offer and closed on the sale just a couple of weeks later!
How To Sell a Fire Damaged House?
If a house fire results in light cosmetic damage, a realtor might suggest just applying a fresh coat of paint to make it look better. But, it’s crucial to think about the legal implications before moving forward. As the seller, you’re going to be required to complete a disclosure and inform potential buyers of any fire, smoke, or water damage the property has sustained. Additionally, buyers may request a specialized inspection to verify that the damage has been properly repaired and the home is safe to live in.
Homeowners in Texas facing extensive fire damage may find it challenging to sell their property “as-is” through a traditional realtor. Damage from fire, smoke, water, and mold can weaken the home’s structure, requiring safety issues to be resolved before putting it on the market. If repair costs are prohibitive, collaborating with a direct cash home buyer like Tag Team Property Solutions offers a practical and efficient alternative.
For homeowners in Texas facing extensive fire damage to their properties, the option of selling “as-is” through a conventional real estate agent may not be practical. Why not? Issues like fire, smoke, water, and mold damage can undermine the home’s structural stability, requiring safety measures before putting it on the market. If repair expenses exceed your financial means, collaborating with a direct cash buyer like Tag Team Property Solutions offers a convenient and efficient alternative.
Restore Or Sell As-Is?
To sell, or not to sell. When selling a fire damaged property, Texas homeowners have two options: restoring the house to its previous condition to sell with a local real estate agent or selling a home “as-is” to a cash buyer/investor like Tag Team Property Solutions. Selling your house for the most money possible with an agent may sound ideal, but the reality is that it’ll most likely be a lengthy and costly process. Depending on the damage, restoration and rehab can be a large feat. You’ll most likely need to wait months to find a contractor with experience in fire damaged restoration, and wait for them to start and complete repairs. If you go this route, be careful who you work with! You want to work with someone licensed, insured and experienced. Avoid working with someone who is going to take shortcuts and ultimately cost you more money. (If you want to learn more about best practices for choosing a good contractor and red flags when picking a contractor, we recommend checking out this article).
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. On top of that, you’ll have to account for agent commissions when listing the property. Typically, commissions will cost 3-6% of the total sales price. So if you sell a house for $200K, you can pay up to $12,000 in commissions.
Bexar county, San Antonio and most cities will have requirements that you’ll need to meet. Between repairs, inspections, and city code requirements, you might spend a lot more money and valuable time on a fire damaged house without much of a return in your money at the final sale. What about insurance? Even if your policy covers the repairs for the damage, your insurance company still may decide they don’t have to cover your alternative housing expensed while you wait for the repairs to be completed and your home to be made livable again.
For most home owners, the amount of money they’re would need to spend out-of-pocket just isn’t viable or realistic. If this sounds familiar, a simple, fast and straightforward solution for selling your fire damaged home might be the best option for you.
“Tag Team went over and above their calling as a property solutions company in handling the purchase transaction. I give [them] the highest review score I can possibly do. Thank you Kyle, Alejandro, and Shayne for a spectacular job in giving us a bit of closure.”
– MIKE B (San Antonio, TX)
Get an Offer Today, Sell in Days (not Months)
Or call us any time at (210) 419-1675
Tips For Selling a House with Fire Damage in Texas
Explore Your Selling Options
Did you recently experience a house fire in or near San Antonio? You may be asking: “What my options are for selling a fire damaged property?” Well, whether want to skip the hassle and stress by selling your house as-is to a home buyer, or you want to put time and money into restoring your home to sell it with a traditional real estate agent after the repairs are complete, you should know the pros and cons of both options. Learn more below.
Clean & Restore The Home
If your house endured severe damage after a fire, spending the time and money to restore it may seem like a long challenge that you don’t have the energy to take on after everything you’ve experienced. But for some homeowners, the final sales price can be worth the effort if you consider the potential financial benefits of restoring a fire damaged property to get it ready to sell. When you professionally clean a house and make 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 in your pocket. Listing a house on the market that is “move-in ready” can drastically increase the number of potential buyers. With the right agent on your side, the property will also reach other agents before the house is even on the MLS. This may 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. Legally, you have to disclose to all potential buyers that the house went through a fire. Unfortunately, this information could hurt the speed and price of your sale. A lot of buyers will hear “fire damage” and hesitate. They may pass on even viewing the house, even though you’ve spent a lot of time and money to have it restored. The house could sit on the market for a while, and the holding costs come out of your pocket during this waiting period. Right now, San Antonio has reached its highest housing inventory in 10 years, which is not good news for sellers. If the market shifts and house prices drop again, there’s a good chance that all the money you invested will go out the window, leaving you with more debt or less money in your pocket than you would have had if you sold directly to an experienced home buyer that specializes in purchasing damaged properties.
Repairing A Fire Damaged Home
Homeowners who invest in expensive repairs and upgrades to make their Texas property safe for the next occupant might unintentionally make it less appealing to investors. Direct home buyers and real estate investors typically seek discounted properties they can renovate themselves for a profit. While they prefer properties needing work, they also want assurance that any completed repairs are up to code and properly done. As an example, investors have purchased homes that were “partially rehabbed,” just to learn that the contractor who did the work previously never pulled permits or did the repairs correctly. Most investors also have professional cleaning teams and experienced contractors who specialize in restoring homes damaged by fire, smoke, and water. Their expertise allows them to complete renovations much faster than the average homeowner, often avoiding long delays. Companies like Tag Team Property Solutions, with lots of experience in major restorations, can handle repairs efficiently and resell the property for a profit later. For sellers, this means a hassle-free sale, regardless of the property’s condition, which is great for you!
Disclosing Fire Damage To Potential Buyers
When you sell to a cash home buyer with experience in fire damaged homes, you won’t have to pay out-of-pocket for repairs of any water, smoke, and fire damage. We buy houses as-is, no matter the condition, mess, or situation. There are even real estate investors who are specifically interested in buying fire-damaged houses in Texas. They do this because they have the extensive 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 like us, you won’t need to worry about traditional bank financing or a mortgage lender for your damaged Texas area property. You won’t even need to worry about the property passing an inspection. Because home buyers like us use their own cash to purchase investment properties, they can close A LOT more quickly than most traditional buyers, who often need 30 days AFTER you accept their offer. Even then, there’s a risk of a buyer losing their financing before closing, of the house not appraising at the minimum value the bank needs in order for financing to happen, and of the bank requiring large repairs that you and/or the buyer may not be willing to pay out of pocket.
But, there are also cons to think about 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 fully restored it and listed it with an agent on the market. 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. Again, you need to consider your time, experience, and how much money you are willing to spend to restore your house to determine which option is best for you.
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 Tag Team Property Solutions, 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! But you need a specific buyer. With Tag Team Property Solutions, you will:
- Never have to make repairs or pay for any inspections. When we say as-is, we mean it. You won’t even have to clean.
- Never have to list your house on the market with an agent and wait for offers
- Save tons of time and stress
- 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 like Tag Team Property Solutions. You might not get full retail value for your property in TX but you also won’t have to deal with a single repair.
Working with a Real Estate Agent
Selling your Texas home for the most money possible in the current market isn’t impossible if you’re not 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. On top of that, you should be prepared
Selling Your Fire Damaged House For Sale By Owner
Prefer to save a bit of money on commissions and sell your house yourself (FSBO)? Texas has strict rules about fire disclosure when you are selling a house or rental property. Be careful! You (and your checkbook) will be on the line, so make sure that you meet those legal requirements, and that your paperwork is done properly before selling. If any of these steps are missed, you could be legally 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 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.
After experiencing a devastating event, homeowners in the Texas area may find themselves shocked to learn that their insurance doesn’t fully cover the expenses of restoring their home. Some may have inadequate policies and cannot afford professional cleanup and repairs. In such cases, selling the fire-damaged property directly to a direct cash home buyer or real estate investor such as Tag Team Property Solutions could be the ideal solution.
Contact a real professional. We’re happy to answer any questions or give you a quick offer. – Tag Team Property Solutions | (210) 419-1675