what to approach/ do for fire damage property?

[Nguyen Quach]

Recently, there's property got fired partial of the house. I talk to the owner right away, Owner said he don't even know do he has the right to sell the house right now or not because he is dealing with homeowner insurance. 

Do any one have experience deal with fire damage property? who should i talk to ? do i have to wait for insurance compensation process done? And what else?

Thankyou@!!!!

[Johnny Kang]

@Nguyen Quach

Yes, in order for the seller to know how much he'd be willing to sell for, he has to first know how much his insurance will pay. 

And depending on how he deals with them (whether he tries to handle the claim himself, or hire a Public Adjuster, which I recommend), settlement amount can range drastically.

Depending on the extensiveness of the damage, most of the time, Public Adjusters are looking out for the insured's best interest, since they work on a percentage of the proceeds, so they'll point things that need to be remedied to the insurance company, that the homeowner will have no clue about. (If it's a small claim, like $10,000, the PA probably won't spend too much time putting together a thorough scope of work.)

- Ask the owner if they have a PA. If they don't have one, why not?

- Are they willing to be displaced for however long it takes to renovate the property? Even if the house is habitable and the smell is contained, how long are they willing to live in that condition?

- If the settlement amount, plus what they can walk away with at the closing table is to their liking, would they consider selling? 

- If they're leaning towards fixing it up, ask them if they know reputable Fire Damage Restoration companies, that also renovate. (Most restoration companies don't renovate because margins are much lower renovating. So the owner may end up having improper restoration work done, doesn't smoke seal necessary areas properly, then when a renovation company comes in and finishes the work, come next hot summer season, the smell of smoke comes back). 

- If they look like they might consider selling, you have to start looking for restoration companies that also renovate who guarantee their work so you can figure out the cost.