Experiencing a total loss due to a fire is devastating, and many homeowners face a difficult decision: rebuild or move on. If you choose to take your insurance proceeds and purchase a new home, you may be left wondering what to do with your now-vacant lot. Instead of selling at a loss, there’s a smarter way to maximize your property’s value.

Maximizing Your Insurance Benefits

Before making any decisions, be sure to review your insurance benefits to understand your options fully. In our previous article, Maximizing Your Insurance Benefits After a Total Loss, we discuss how homeowners can use their insurance settlement to purchase a new home without the obligation to rebuild. However, this does not mean you should sell your lot hastily.

Avoid Selling Your Lot to Developers for Less Than Market Value

Many homeowners, eager to move on, receive offers from developers looking to purchase fire-damaged lots at a fraction of their pre-fire market value. Selling at this stage often results in significant financial loss, as developers seek to acquire properties for below-market rates, capitalize on the rebuild potential, and profit at your expense.

Partner With Ingram General for a Joint Venture Development

Rather than selling your lot outright, consider entering into a Joint Venture Partnership with Ingram General to co-develop the property for sale. Here are two strategic partnership options:

Option 1: Contribute Your Lot to the Joint Venture

1. You contribute the lot to the joint venture.
2. Ingram General arranges construction financing to rebuild the home.
3. Ingram General handles all aspects of the rebuild, including design, permitting, and construction.
4. Once completed, the new home is sold, and proceeds are split between you and the developer.

Option 2: Contribute Your Lot and Insurance Proceeds to the Joint Venture

1. You contribute both the lot and your insurance proceeds to the joint venture.
2. Ingram General leverages these funds along with additional financing to rebuild the home.
3. Ingram General manages the entire rebuild process, ensuring the highest possible resale value.
4. Since you are contributing both land and funds, you receive a significantly higher share of profits from the sale compared to contributing just the lot alone.

Why These Approaches Yield Higher Returns

• Higher Property Valuation – A completed, rebuilt home will sell for significantly more than a vacant lot.
• No Need to Handle Construction – Ingram General takes care of the entire rebuild process, reducing stress and risk for the homeowner.
• Shared Profits – Rather than selling your lot for a fraction of its worth, you participate in the upside of the redevelopment process.
• Greater Profit Potential – Contributing both the lot and insurance proceeds allows you to receive a significantly larger share of the final sale profits.

Next Steps

If you are considering your options and want to explore how a joint venture partnership with Ingram General could work for you, contact us today to discuss your property’s potential. With the right strategy, you can secure a better financial outcome and maximize the value of your lot rather than settling for a lowball offer.

Your home may be gone, but your property still holds value. Make the most of it with a smarter approach to redevelopment.