For a lot of homeowners, a house fire is one of those worst-case scenarios that feels almost unimaginable. Unfortunately, they do happen from time to time. And figuring out what to do with the home afterwards can be just as stressful and emotional as processing the fire itself.
In this blog post, I’ll touch on some of the practical considerations that come with selling a home that has fire damage.
Need more guidance on selling your home? I’m here to help. Call or text me at 647-239-7587 or send me an email at melissa@southetobicoke.com to get started.
Safety First
If your home has damage from a fire or a similar event, safety should always be top of mind. Whether you’re still living on the property or not, it’s important to consider the ongoing safety of your family, as well as anyone else who may be involved in your sale, i.e. real estate agents, home inspectors, and potential buyers.
Before you even consider selling, have professionals inspect the structure for any hidden damage or potential hazards. This step is crucial for the well-being of everyone involved in the selling process and for complying with local regulations – ensuring anyone who enters the home is safe and secure.
Facing a home sale in less-than-ideal circumstances? You may find these other blogs helpful.
- The Complete Guide to Selling Your Parent’s Home
- Selling Your Deceased Parents’ Home: First Steps
- Probate & Real Estate in Ontario
Getting Your Home on The Market
If you’re able to proceed with a home sale, there will be some steps you need to take before you get it on the market. This means cleaning up and restoring certain parts of your home where needed. For example, removing damaged items or furniture, repairing structural issues, and addressing any lingering smoke or water damage.
Once again, it may be best to hire a professional for this step as they can make sure that no major concerns or red flags are overlooked. It will also ensure that any work needed is done efficiently, properly, and safely.
Understanding Disclosures
While it’s completely legal to sell a home that’s been damaged by a fire, you are required to inform potential buyers about it. Under Ontario law, not every single detail about your home has to be disclosed upfront. However, sellers must tell buyers about anything that impacts the home’s value or desirability – this includes fire damage.
Selling a home is stressful enough without the added anxiety that comes with telling an interested buyer that your home has been impacted by a fire. That said, attempting to skip this step or “forgetting to mention it” could land you in serious trouble.
Searching for more insights on tough-question real estate disclosures? Click here to read my blog post about what happens when someone dies in a home.
Determining Property Value
As you might expect, taking on fire damage will directly affect your home’s market value. However, it doesn’t necessarily mean that your home has lost significant value or that you can’t accomplish a great deal on your sale.
After the property has been cleaned up and restored, it’s time to think about pricing and market value. In a standard home sale, your real estate agent will use their professional expertise to help you pick a listing price that reflects your home’s position in the current market. However, things are a little more complicated when a home has significant damage.
In this case, you’ll want to work specifically with a real estate agent who understands the unique nuances of selling a fire-damaged home. More on that next.
Want to know more about selling your home? Check out these blogs next.
- How to Get a Home Ready For Sale
- 10 Real Estate Hacks for Sellers
- 5 More Mistakes to Avoid When Selling Your Etobicoke Home
Work With an Agent Who Knows Their Stuff
If you’re looking to sell your home after there’s been a fire, the best place to start is with a real estate agent who specializes in these types of sales – like me. As your dedicated expert, it’s my goal to guide you through the process with ease and simplicity, ultimately leading to a great final result.
There are a lot of moving parts in any home sale let alone after a fire. Heading to the market can be emotional and stressful – but it doesn’t need to be. I understand the unique factors involved in selling a home with notable damage and how to best prepare for them. I’m happy to answer any of the tough questions you may have, providing honest and straightforward advice based on your personal circumstances.
Need to sell your home? I can help! Call or text me at 647-239-7587 or send me an email at melissa@southetobicoke.com to get started.
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