House fire in another house on the street

SharkMoney

Hello
My house is on the market and one of the neighbours (other side of road) has sadly had a house fire.
Do you think this will devalue my house or put buyers off? The house is not a total loss, just the lounge needs to be sorted and front facade. I expect its going to take at least 3 months to sort out.

Would it help to put information in the sales info when people come to view?

Should I take it off the market until its resolved?
Anyone with experience of street scene being damaged by fire?

lincroft1710

If viewers ask just tell them minor house fire and the damage will soon be made good. Don't do anything else.

davidmcn

I don't think you need to raise it at all. It obviously isn't linked to your property in any way and anybody sensible would assume it's going to be sorted soon.

diggingdude

Shouldn't make any difference if not attached and isn't a lasting eyesore. Remember Windsor castle caught fire and people come from all over the world to see it

SharkMoney

diggingdude said:

Shouldn't make any difference if not attached and isn't a lasting eyesore. Remember Windsor castle caught fire and people come from all over the world to see it

It’s nice to have a bit of humour. I am finding the process so disappointing and disheartening. Viewings have dried up and DH wants to take it off the market due to fears economy will collapse over coronavirus and now the eye soar.

xylophone

eye soar.

Eye in the sky?  

ThePants999

Imagine you went to view a house and loved it, could really see yourself living there for years to come. Oh, except a house across the street has been damaged and is under repair. What would that do to your thought process?

My answer: nothing whatsoever. Being influenced on a decision about the next decade by the fact that the view out of the lounge window is slightly degraded for two months would be silly.

cymruchris

If I saw the house I wanted - a damaged house nearby wouldnt put me off.

Davesnave

Thanks to a smoker, my house was once the one in our small street that had the same sort of damage as you describe. It actually took 6 months to sort out, being worse than it looked, but after that it was the smartest one in the cul-de-sac!

You may as well leave your house on the market, but being realistic, there will be much more occupying the minds of people in the next few months than thoughts of moving. Many sales are likely to collapse, and with them, the economy, so achieving a sale now at the price you have in mind will be unlikely.

We're in a similar but worse scenario as late 2007, when the Northern Rock debacle heralded the end of economic business as usual. I know about that too, as we were on the market with a buyer in place when it happened. There's no point in me telling you the rest, as every situation's unique, but like then, there will be winners, losers and those in between who muddle-through. Good luck!

PasturesNew

As a viewer I'd worry if it were a nutty homeowner/DV/violence, if it were arson.... 

You need to let the agent know what sort of fire it was.  Daft mare forgot the chip pan was on is not so bad as bad divorce, husband firebombed house after she moved her new lover in.

PasturesNew

Davesnave said:

... being realistic,.... Many sales are likely to collapse, and with them, the economy, so achieving a sale now at the price you have in mind will be unlikely. 

I am in this camp of thinking.  Many sales rely on people getting mortgages, they have to have a job and present 3 months' payslips.  Many will find reduced offers, or no offer, being made from lenders. 

Many everyday jobs will be under strain.  Retail jobs, hospitality jobs, catering jobs, jobs we can't even think about right now. 

If an airline goes under and 2000 lose their job, that's 2000 x £1k per month not available to be spent locally on purchases, haircuts, going out, buying household knick knacks, replacing goods on a whim.  Some of these companies will therefore have job losses or reductions in hours. It's 20 people who were moving, or thinking of it, pulling out. 

In short, people's mortgageability will drop.  Not everybody's, but some, the bottom of the chain in a lot of instances.  People will "wait and see". 

If you can sell now though, now is a great time to be on the market because it means buying your next house will also be more achievable as sellers are not asking daft prices any more, but simply what houses are "worth".  The gap between what yours is worth and what your next one is worth will lessen, meaning you will be no worse off (unless you were banking the money to sail round the world).