Posted on: 17 May 2017Share
If you are looking for a good deal on a big home, one of the ways that you can score the deal of a lifetime is to get a good deal on a home with fire damage. Sometimes, if a new build especially gets fire damaged, many builders may want to walk away from the home project than have to perform a remodel. For this reason, you can get the bones of the home for a decent price. If you intend on purchasing and restoring a fire damaged home, here are three things you need to know before you make an offer.
Get the fire inspection report
One of the pieces of paper that you will need to negotiate before closing is the fire inspection report. After a fire, it is common to get a fire inspection. This may be from the fire department and from the insurance company. This piece of paper will be worth its weight in gold, because it will detail the exact damages from the fire and what work will need to be performed for the building to be brought up to code for residence. With this list, you can determine how much the restoration will cost and what type of cleaning and remodeling you will need.
Figure out the electrical damage before bidding
If a fire breaks out in aa new model home, one of the biggest and most costly problems will be the electrical system. If the fire was an electrical fire, you may find that the majority of the system is fried. Replacing the entire electrical system in a home can be a costly venture. If one part of the home is experiencing electrical problems, you will need to replace the wiring and have the electrical system redone in that particular portion. Since this work can be time-consuming, you will need a complete electrical report for the home to determine just how much electrical damage is and how long before your home will be move-in ready.
Budget for all of the drywalling
If a home has smoke damage, you will notice that some of the walls are ashy gray, while others appear to be in good condition. Despite the wall appearing to be in good condition, there may still be some unseen smoke clinging to the walls. Despite how the home looks upon your walkthrough, you must budget for the drywall being completely redone during the home remodeling.