A property, be it a commercial or residential property, is a significant asset for an individual. If your property has experienced water damage or fire damage, which has destroyed the cosmetic and structural integrity, it can lead to a worst-case scenario.
Both water and fire are significant hazards, and any property exposed to these two damages is left wholly wrecked. Naturally, as a property owner, your first instinct is to get in touch with your insurance provider. If the insurance is willing to provide coverage for the repairs and renovation, then nothing is lost, and you can rebuild your asset.
However, if your insurance claim doesn’t come through and you do not have sufficient coverage, it can lead to a worst-case scenario. The situation can become increasingly stressful and challenging if you are still paying off the mortgage loan. There is no sense in paying off the mortgage of a property that has been destroyed due to fire damage or water damage.
So, what is the best solution to bail out such as a financially stressful situation?
The ideal solution is to sell off your property and recuperate your losses. It is costly to renovate a property that has been exposed to fire damage or water damage. Both kinds of damages compromise the structural and cosmetic integrity of the property. They cause major disruptions in the utility supplies, disturbing plumbing lines and destroying electric wiring.
You will not only be paying for a complete renovation of the basic structure, but you will also have to bear the burdensome expense of reinstalling the electric wiring, plumbing, and other integral systems. If your insurance claim has been denied and you have no financial coverage to undertake renovations, the most viable solution is to get the property off your hands without delays.
If you have a hefty mortgage on your property, the need to sell off is much more urgent and necessary. However, entering the real estate market with a damaged property isn’t the easiest route to adopt.
This is where we step in and save the day for our clients! At 718 Real Estate Advisors, we specialize in purchasing properties as-is, without requiring any repairs. If your property has been destroyed due to fire damage or water damage, do not fret. The majority of our clients face similar issues, and we help them secure a convenient and flexible selling process.
We purchase properties and houses as-is in exchange for a prompt cash payment. You no longer have to worry about fixing the damages, or fighting your insurance company over your rejected insurance claim. We will breeze you through a quick and convenient selling process, and provide a prompt cash payment.
You can utilize this money to pay off your mortgage, or put it towards the down payment for a new house or commercial property. Remember, not everything is lost.
There is always a silver lining, and to find yours, feel free to get in touch with our team right away!
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