Questions to Ask Before Selling Your Marshall Fire Damaged Home

SUPERIOR, Colo. (KDVR) – As reconstruction begins in Superior, Louisville and unincorporated Boulder County, the new housing market is also growing, with inventory plentiful.

On Wednesday, the first listing went on sale in the Sagamore neighborhood. It may seem like damaged land to some, but for those who have seen the aftermath of the Marshall Fire, they see a potential return on their investment.

“This might be the right move for them,” said Carole Walker, chief executive of the Rocky Mountain Insurance Association.

Walker said it was a chance to remind potential sellers of what they needed now.

“They (must) understand all the insurance questions and answers and then what they will still be responsible for,” Walker said. “It’s not the market value, but the cost to repair and rebuild, in today’s dollars, is what you’re insured for,” she said.

Walker said he expects an upfront payment, with potentially more to follow, after working with a contractor to determine the cost of the rebuild.

“Those insurance dollars won’t be paid until you move somewhere else, or rebuild somewhere else,” Walker said.

If you file an insurance claim and sell your land, remember that your payment pays, in part, for the restoration of that land.

“The land, foundations and debris removal are tied to your insurance and rebuilding costs,” Walker said, explaining that taking an insurance claim shouldn’t affect your ability to get coverage. for another property in the future.

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