Bank owned home damage due to fire.?We found a house we are in love with...1.3 acres, 1600sf of living space and barn in CA. The asking price is $280,000. The home is bank owned and was completely damaged by fire. The exterior is in good condition but interior was completely burned. Framing is fine. The area is gorgeous surrounded by vineyards... | |
After a house has been severely heated by a fire, its wiring must be replaced, plumbing likely (solder failures everywhere., even the structural wood may be a major hazard. The wood will be ready to ignite very easily. Roof may look good but be severely compromised. Concrete can be damaged by heat and cooling. Glass can be ready to disintegrate.
Framing may look ok, but wood that has been heated by a fire becomes a fire trap.
What I am saying is, unless you are a structural engineer and are willing to pay more in cost than a new house would cost, stay away.
The municipality would have a record in the registry office of any mortgage or ownership.
Treat the property as a lot with a house needing to be removed, when considering price.
Now that might be 100k to 120k.
