According to the National Fire Protection Association, there are over 340,000 home structure fires annually. These fires cause more than $7 billion in damage and more than 11,000 civilian injuries. The causes of housefires include heating, electrical work, cooking, and arson. A housefire can completely decimate a home’s structure, destroying everything inside its wrath. However, sometimes firefighters arrive fast enough and put the fire out before it blazes the entire structure. Fortunately, you can salvage a home with fire damage, but it’s not cheap. Selling your house with fire damage is the best route, as repairing the home is expensive. Let’s explore how fire damage impacts your home’s value and the best ways to sell your home after fire damage in Huntsville, Alabama.
Fire Damage and Your Home’s Value
A housefire’s impact on your property’s value depends on the damage. On average, homeowners in the United States pay $78,000 to repair a home with fire damage. Therefore, it’s reasonable to expect your home’s value to drop by at least $78,000. But, if the damage is more widespread, the value of your home could drop by hundreds of thousands of dollars. Prospective buyers will want to purchase the home at a steep discount – typically the cost of the repairs and an additional discount for the effort. On rare occasions, buyers may only offer you the cash value of the land (this is often the case when no part of the structure is salvageable).
Can You Sell a Fire Damaged Home With a Realtor?
You can sell your home as is with the help of a realtor. The real estate agent will help you take photos of the house, do whatever staging is possible, and give home tours. Moreover, the realtor will help you price the home based on comparable market prices. The downside of using a realtor is that you will need to pay a 6% commission. There’s also no guarantee your home will sell quickly, especially if it has expensive damage. Instead of using a realtor, you can sell your house in Alabama to a cash buyer.
Sell Your Home to a Cash Buyer
Selling your house to a cash buyer, such as RHED Key, is the best way to sell your home after fire damage in Huntsville, Alabama. We buy houses in any condition, including homes with light-to-severe fire damage. There are zero fees to sell your home, and we will give you a fair cash offer as quickly as 24 hours. With RHED Key Properties, you never have to worry about hosting open houses, negotiating, or watching your home sit on the MLS for months. Contact us today to learn how much cash you can receive for your fire-damaged home.
Sell Your Home to RHED Key Properties Today
RHED Key Properties is the leading source for cash home offers in Alabama. We have made dozens of cash offers in Alabama and are ready to give you cash for your home. Get in touch with us today to receive cash home offers in Alabama.