Des Moines, WA · Member since 2018 · 7 posts · 2 votes
I have a fire damaged house that I am looking to sell. The house itself is a total loss. rehab means rebuilding from 1 wall or complete rebuild from scratch.
My question: Is it better to demolish the house and sell the property as a lot? Or sell it as is? Secondary question: What kind of loss should I expect? market value before fire was $350K (I'm in the Seattle King County market) My hope is to get $150K out of it. Is that reasonable?
Rental Property Investor · Everett, WA · Member since 2015 · 457 posts · 386 votes
8y
@Daniel G Blais There are a lot of brokers who specialize in selling lots and could likely give you good insight on comps in the area.
By looking at what other raw land has sold for and compare that with the cost of removing the structure from the property should help inform your decision.
Best of luck.