Who Buys Fire Damaged Homes? What to Consider

Do you have homes burnt with fire for sale? Learn what to consider when you’re looking for who buys fire damaged homes.

There’s definitely a lot to consider when buying a fire damaged home. Landing the deal can be risky even after renovations.

This is because any problems you find after you thought you got a good deal from the seller can be financially detrimental.

This would certainly be an investment if you know how to flip homes.

But part of the renovation process is deciding whether or not the home is even worth fixing.

So it’s best to have a professional home inspector find all issues.

Also, you have to do your research on the repair costs in advance to know if the purchase is really worth it.

In this article, we’ll share how to find who buys fire damaged homes and what you need to consider when buying one.

What To Consider When Buying A Fire Damaged Home

A home with fire damage can be a great investment, but you need to consider some details before signing the purchase documents.

It’s best to abandon the purchase if you find out the home has any of these issues:

• Water damage. Of course, you need water to extinguish the flames, but the water can damage the home even more than the fire itself. So, be sure to check for the right humidity levels that allow mold to grow anywhere, especially in bathrooms, attics, kitchens, and basements.
• Damaged air ducts. Firemen use more than just water to quench flames. A combination of chemicals is used to effectively put out fires. But if you find them in the air ducts, they can severely compromise the indoor air quality.
• Warped floors and wood frames. Wooden structures are expensive to replace and can even lead to structural issues.
• Structural issues. If the load-bearing walls of the home are compromised, investment in the home is probably not worth it.
• Plumbing damage. The heat from the flames can damage PVC and copper pipes.
• If the home was built before the 80s, you should inspect the asbestos after a fire.
• Smoke damage. The particles of smoke often linger within walls and floors even after the renovation process. Areas also stained by smoke will often need to be replaced if left to sit.

Pros of Buying a Fire Damaged Home

As long as the home is safe and has been properly renovated after a fire, and you trust the renovation service and home inspector, you can save a lot of money when buying.

With this in place, the question: Who buys fire damaged homes won’t be a worry.

Usually, these homes are undervalued, that’s why they can be a great return on investment.

Even if the home has not been renovated, fixing it up by yourself often costs less than buying it renovated.

The best part is that you’ll also be able to fix it up to your preference, like using paint, building materials, and furnishings of your choose.

Here are other pros of buying a house after a fire:

• Great price and negotiation power
• Higher return on investment
• Ability to renovate the home to your liking

Cons of Buying a Fire Damaged Home

Of course, with every decision, there are pros and cons. It is best to be aware of the cons as well in order to make the right decision.

There are a lot of unknown variables when buying a new house, which is the biggest con.

Some contractors are also more trustworthy than others.

There are those who can’t be trusted because they may just cover up damaged wood supports and subflooring with drywall and carpeting.

Always go with a professional home inspector, structural engineer, and even an electrician for a home inspection.

This will help you know exactly what you are dealing with before buying the home.

You may also want to ask yourself the following questions before making the purchase:

• Location and size of the fire: how big was it, and where did it happen?
• Was there structural or electrical damage?
• Is there still structural damage?
• When did the fire occur?

Apart from the home inspection, it’s best to look out for potential problems while exploring the home.

While checking out the home, be observant for any of the following:

• Warped, melted, or broken pipes
• Damaged air duct system
• Lingering smoke smell
• Musty smells from mold or water damage
• Warped floors, door frames, and window frames

Depending on the amount, location, and duration of damage, purchasing a fire damaged home may or may not be a good choice.

How Fire Damage Restoration Services Help

Restoring homes from even a small fire can be a big job. There’s a lot to think about during the recovery process.

The damage can be overwhelming to handle depending on the size, how far it spreads, and the building materials and items affected.

The first and most important step in any fire damage situation is to call for emergency fire damage restoration.

These local professionals are trained, experienced, licensed, and available 24/7 to respond.

They will create a restoration plan to allow for the most efficient process by using advanced products and equipment to do an emergency pre-cleaning to prevent permanent damage.

They will then stabilize the home using board-ups and tarping services to avoid further damage and the risk of collapse.

Many professionals also work with different contractors, like electricians, handymen, plumbers, and more.

This way, you don’t have to worry about organizing with everyone.

They will also get any of your personal items that were damaged during the fire cleaned, dried, and restored, including electronics, artwork, and other valuable belongings.

They will also maintain open and clear communication to keep you updated throughout the process.

Finally, they use advanced technology, such as hydroxyl or ozone equipment, to remove any lingering smoke smell.

They will then work with your insurance agency during the claims process so you can focus on other matters.

Conclusion: Who Buys Fire Damaged Homes?

As you can see, it’s not just about who buys fire damaged homes. There’s a lot involved in buying a fire damaged home.

A lot of work needs to be done after the damage, and there’s a lot to know even after it’s been restored.

The most important thing is to know exactly what to look for and determine if the cost of repairs is more than the value of the home.