(Pennsylvania) Pricing/Selling a Burned-Out House?

Some background:
This was a relative’s house who has passed, and I’m the executor. They died almost exactly 1 month after their house burned down. It’s officially condemned.
The house was estimated to have a value of around $170k.
Insurance quotes are putting the rebuild/replacement cost up around $132k, thanks to the ever-rising cost of materials these days.
The foundation is good and the basement had no damage. The metal roof is 4 years old and survived the blaze with no issues.
But we’re strongly considering an as-is sale (numerous folks have expressed interest but put forward no offer specifics) instead of paying the mortgage for the next 8-12 months during a rebuild and then the hoped-for sale.
The big question is, how do you even figure the value or asking price of a house in such a condition?

submitted by /u/RubbishWisdom
[link] [comments]

Some background: This was a relative’s house who has passed, and I’m the executor. They died almost exactly 1 month after their house burned down. It’s officially condemned. The house was estimated to have a value of around $170k. Insurance quotes are putting the rebuild/replacement cost up around $132k, thanks to the ever-rising cost of materials these days. The foundation is good and the basement had no damage. The metal roof is 4 years old and survived the blaze with no issues. But we’re strongly considering an as-is sale (numerous folks have expressed interest but put forward no offer specifics) instead of paying the mortgage for the next 8-12 months during a rebuild and then the hoped-for sale. The big question is, how do you even figure the value or asking price of a house in such a condition? submitted by /u/RubbishWisdom [link] [comments]

<a href="Read More“>View Full Article

Need More Commercial Real Estate Leads?SAVE 40% this month!

Our commercial valuation calculator was created to evaluate commercial real estate. In 6 quick steps you will know your NOI, CAP RATE, and IRR.

Now you can get your own branded version of our calculator!