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Not All Fire Damage Is the Same
Small Localized Fire
Possible damage: cabinet, wall, appliance, smoke.
Major Structural Fire
Possible: roof, framing, electrical, water damage from firefighting, extensive smoke contamination.
The market response will be completely different.
Insurance Claim
If there is an active insurance claim, understand:
- What is covered
- What has been paid
- What work is authorized
- Whether claim rights transfer
- What the lender requires
Insurance questions belong with the insurer and appropriate professionals.
Water Damage After Fire
Fire suppression can cause additional property damage. That needs separate evaluation.
Rebuild or Sell?
Sell As-Is
Advantages: faster, less construction risk, investor buyers.
Repair First
Potential advantages: larger buyer pool, ordinary financing, potentially higher sale price.
But account for the deductible, construction time, permits, contractor risk, and carrying costs.
Do Not Hide the Fire History
Important
DO NOT HIDE THE FIRE HISTORY. Known damage and repairs should be handled through applicable disclosure requirements and transaction documentation. Nevada maintains statutory disclosure requirements for covered residential transactions, and exceptions depend on the transaction.
Lisa can help you compare the as-is route against repairing first by the numbers, starting with a free home value analysis or a seller net sheet.
