Sell a fire or water damaged house in Butler County

Your insurance claim and a sale can both happen

Selling a damaged house doesn't cancel your insurance claim, but how the two fit together depends on your policy and your mortgage. Insurance money for the structure is often paid jointly to you and your lender. Before you sign a sale agreement, tell your insurance adjuster and your lender that you're selling, and ask how the claim will be paid.

We'll make our offer on the house as it is today. Whatever happens with the claim, you'll know exactly what the house itself is worth to us.

Ohio's fire claim rule in some towns

Ohio law lets a city or township require insurers to hold back part of a large fire claim. Where a community has adopted the rule and the loss reaches 60% or more of the policy limits on the building, the insurer sends $2,000 for each $15,000 of the claim to the local government, to be held as security for demolishing, repairing, or securing the building. The money is released once that work is done.

It only applies in communities that have opted in, so ask your adjuster whether it applies to your claim.

Source: Ohio Revised Code 3929.86

Water damage gets worse with time

Unlike a fire, water damage keeps spreading. Wet drywall, subfloors, and insulation can grow mold within days. If you're not going to repair the house yourself, deciding early can save a lot of value, even if you just shut off the water and let us take it from there.

When rebuilding is the better choice

If your insurance will cover a full rebuild and you want to stay in the house or sell it at full price later, rebuilding may net you more. A cash sale makes sense when you'd rather take a number now than manage months of construction.