Pricing Property with Fire Damage in LA

[Sandra K Shirah]

I’ve been asked to list a property in Central Louisiana that has significant fire damage (insurance paid off), but I have no idea where to start. I believe there may be some value to the structure that remains - perhaps a savvy handyman can make habitable again - but not certain. The location also isn’t in the most desirable of neighborhoods... Any suggestions on best way to determine value?  Thanks! 

[Amy Verges]

I second what @Jeremy VanDelinder said about having a restoration company walk the property to give you mitigation and rehab estimates. That’ll give you an idea of where to start. Just remember that you not only need to subtract those costs from the market value, but also a big discount for any buyer to have to deal with the headache from the restoration. I just had a fire at one of my properties and the restoration company has been a huge help.