House with prior Fire damage

[Brenda Akinyi]

If a house had fire damage and an investor e.g. myself remodels and brings it up to code, when I flip, do I disclose to the buyer that the house had prior fire damage ? I am new to investing so just trying to think of how this scenario would be handled. Thank you all in advance!

[Wale Lawal]

Hi @Brenda Akinyi, For me Yes, you need to disclose it to the buyer because if they find out on their own, they may wonder what else you are hiding from them and decide not to buy your house. Well, I believe that most experts agree – it is better to be fully transparent with buyers. Tell them there was a fire and then explain exactly what you did to repair the damage. 
Also, keep in mind that in most states you are required by law to tell buyers about a fire. Trying to keep a fire secret could lead to penalties down the road.