Advice from Joel Efosa of Fire Cash Buyers on What to Do If Your Texas Home Is Damaged by Fire
It can be challenging and costly to sell a home that has been damaged by fire. There aren’t many people who would be willing to take on such a venture because they know that purchasing such a property is a gamble. Managing the many legal, safety, and financial implications can be costly and time-consuming. However, you can still get a good price for your fire-damaged home if you go about selling it the right way.
In order to help you make the most of your fire-damaged property, we spoke with Joel Efosa, a prominent real estate investor who has made a name for himself by purchasing, repairing, and reselling homes that have been damaged by fires in Texas.
Joel Efosa is well-known in the real estate industry for his unconventional strategies, which allow him to spot and profit from properties missed by other investors. Joel and his team buy fire-damaged homes for cash in Texas and beyond through their company, Fire Cash Buyers. Additionally, they will buy homes that have been damaged by natural disasters, such as storms or termites, as well as unfinished buildings.
If you want to get the most money out of the sale of your fire-damaged home, follow Joel Efosa’s advice:
Consider selling to a cash buyer
Home repairs can be costly, depending on the severity of the damage. Even so, there is no assurance that your investment will yield a positive return. While you might not get as much for the property as you would if you repaired it, selling it to cash buyers will alleviate the financial strain of costly reconstruction. As an expert in the field, Joel Efosa purchases homes with fire damage for cash. More details: https://www.firecashbuyers.com/selling-a-fire-damaged-house-texas
Sell the property as-is
If the project cannot be completed within a reasonable budget, selling the property “as is,” as Joel Efosa suggests, is a great way to save money. When selling a home “as-is,” no repairs or upgrades are necessary before listing the property for sale, even if you are in mid repair.
Restoring the house
Maximizing your profit from the sale of your home requires that you make any necessary repairs before listing it for sale. Joel explains that fixing something up increases its market value and safety rating, which in turn leads to a higher selling price.
The main drawback is that it could be costly and time-consuming. Joel suggests gathering repair cost estimates as a first step. To make sure the estimated cost of repairs is reasonable, you can check the current market price.
When it comes to potential buyers, honesty about the damage is crucial, as Joel points out. He explains that in Texas state, it is mandatory to disclose fire damage to potential buyers. Disclosure of damage to prospective buyers and honesty about necessary repairs can help you avoid legal trouble and gain the buyer’s trust.
Sell the house to a local home-buying company
Last but not least, you can sell your burned-out home to a real estate firm. However, if the damage is extensive and your insurance doesn’t cover everything, selling the home could take a while. To learn more about selling a home with smoke or soot damage in the state of Texas, check out the blog post devoted to the topic, written by Fire Cash Buyers.
In conclusion, selling a house with fire damage can be stressful and difficult, but it is possible to find buyers who are willing to take on the challenge with the right strategy. You can find buyers who are willing to overlook the fire damage if you work with real estate investors who focus on fire-damaged homes, advertise the property’s positive aspects, set a fair price, and are honest about its condition.
McClatchy newsroom and editorial staff were not involved in the creation of this content.