Sell a Fire- or Water-Damaged House

The problems damage creates

Fire and water damage rarely stay on the surface. Smoke travels through ductwork, water wicks into drywall and subfloors, and mold can start growing within a day or two in warm, humid conditions. A damaged home may need demolition, remediation, and reconstruction, often with permits and inspections at every stage. Many damaged homes also cannot be financed or insured until repairs are complete, which rules out most retail buyers.

What to do right away

• Make sure everyone is safe, and follow any instructions from the fire department or local building officials.
• Notify your insurance company and document the damage with photos and video.
• Take reasonable steps to prevent further damage, such as boarding up openings or stopping the water.
• Keep receipts for emergency repairs and temporary housing.
• Read any contractor agreement carefully before signing, especially anything that affects your insurance claim.

Selling with an open insurance claim

You can sell a damaged home before, during, or after an insurance claim. What happens to the insurance money depends on your policy, the claim's status, and your mortgage. If you have a mortgage, the lender is usually named on claim checks and must be paid off at closing. Tell us where your claim stands and, if needed, ask your insurer or a licensed public adjuster how a sale affects it. We will factor the claim's status into our offer.

How we buy damaged properties

We review the damage in person or through photos and reports, estimate the work involved, and make an offer that reflects the home as it stands. You do not need to clean up, remove debris, or start repairs. If the property has been declared unsafe or has open building cases, the title process will identify them, and we will explain how they are handled.

Frequently asked questions