Indiana situation guide · Updated November 2026

Wholesaling Fire-Damaged Houses in Indiana

Wholesaling fire-damaged houses in Indiana means putting a burned home under contract, often with an owner who is tired, insured and unsure what comes next, and then assigning that contract to a rehab buyer. The work is more about people and paperwork than about charred studs. Indiana’s solicitation law adds a few steps you should follow from your first letter or text, so this page walks through both the deal and the rules.

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The short answer

Can you wholesale a fire-damaged house in Indiana?

Yes. You can contract for a fire-damaged home and assign your contract to a buyer, as long as your solicitation and paperwork follow Indiana rules. An attorney or title company should review anything involving insurance money or a mortgage payoff.

A fire changes who has a say in the deal. The owner may have an open insurance claim, a lender named on the policy, and a city inspector who has not yet cleared the structure. Ask about each of these on the first call. Our fire-damaged house guide covers the physical side, and estimating repair costs helps you price smoke, water and framing work.

Indiana has a statute for solicitations of single-family homes by people without a real estate license, IC 32-21-16.5. In general it asks for a plain disclosure that the message is not from a licensed real estate professional, along with legal names, and it gives the homeowner a short window to cancel if the disclosure was missed. It is not a license. Read the current text, and see our legal overview and license guide.

Fire-Damaged Houses in Indiana at a glance

Main risk	Open insurance claim and unpaid mortgage
Solicitation rule	IC 32-21-16.5 disclosure on every message
Cancel window	Homeowner can generally rescind within 2 days if disclosure was missed
Seller form	IC 32-21-5 may apply on a resale, check with counsel
Unsafe orders	Cities can issue them under IC 36-7-9
Best buyers	Rehabbers with their own crews

The opportunity

Why fire-damaged houses fit Indiana wholesalers

Fires hit every kind of neighborhood, from older bungalows near downtown Carmel to newer homes in Hamilton County subdivisions. Most owners do not want to manage a rebuild. You can find leads in code violation lists and by driving for dollars past boarded windows.

Motivated owners

Burned homes are stressful, and a quick written offer can be a relief. Our motivated seller guide shows how to start.

Low competition

Many retail buyers will not tour a burned house, so serious cash buyers see few deals.

Clear upside

In high-value suburbs the repaired value can leave a real spread after construction costs.

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Lead sources

Where to find fire-damaged leads in Indiana

Local news and scanner reports. Search recent house-fire stories in Hamilton County, and note the address.
Boarded-up homes. Look for plywood, tarps and fire tape. Our skip tracing guide helps you reach the owner.
Code enforcement. City records can show structures flagged as unsafe or vacant.
Absentee owners. Landlords out of town often just want out. See absentee owner leads.
Insurance adjusters and contractors. They meet owners before any investor does and may refer cases.

Your exit

Who buys fire-damaged homes in Indiana

Rehabbers with their own crews are the core buyers, along with a few builders who want the lot. They care about the structure, the roof and the cost of smoke remediation. Give them photos, the fire department report if the owner will share it, and any estimate you have.

Be careful when the repaired value is high. A buyer in a Carmel-type market may use hard money, so use the buy box guide to match the house to the buyer, and have everything run through an investor-friendly title company.

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Step by step

How to start wholesaling fire-damaged houses in Indiana

Introduce yourself with the required line. Every first message should say it is not from a licensed real estate professional and include legal names, as the statute asks. Check current text.
Learn the claim status. Ask whether the insurer has paid, what the mortgage balance is and whether the policy names a lender.
Walk the structure. Take photos and bring a contractor if you can. Use our ARV guide to find the repaired value.
Run the numbers. Plug the figures into the ARV calculator and the MAO calculator.
Sign an assignable contract. Use wording that allows assignment and disclose your role. See assignment of contract.
Market to buyers. Send the package to cash buyers from your list. See finding cash buyers.
Close with title. Make sure insurance proceeds and any lender payoff are handled in writing at closing.

Your checklist for wholesaling Fire-Damaged Houses in Indiana

Put the required not-licensed disclosure and legal names in every solicitation.
Ask about open claims and the mortgage holder before you set a price.
Check for any unsafe-building order before you sign.
Allow extra time for smoke and structural inspections.
Disclose your role as an assignor in writing.

An Indiana example: a Carmel kitchen fire

Repaired value (ARV)	$560,000
Estimated repairs	$150,000
Max offer at 70%	$242,000
Contract price	$228,000
Assignment fee	$14,000
Buyer pays	$242,000

A landlord in Carmel owned a two-story rental where a kitchen fire had gutted the main floor. A short call to the owner opened with the required disclosure line.

You walked it with a contractor, who guessed $150,000 for framing, drywall, a kitchen and smoke cleanup. Comps showed a repaired value near $560,000, and you ran the formula in the MAO calculator. A cash offer of $228,000 was accepted, and the owner signed an assignable contract.

A Hamilton County rehabber paid a $14,000 assignment fee and closed at the title company.

Indiana rules to know

Solicitation, seller form and unsafe-building rules

IC 32-21-16.5 applies to solicitations of residential single-family homes by someone without a real estate license. In general, each solicitation should carry a line that it is not from a licensed real estate professional, plus the legal name of the solicitor and the expected buyer. A homeowner may be able to cancel quickly if the disclosure was not made, and violations can be treated as deceptive acts. The law does not create a wholesaler license, and exceptions exist, so check the current text with an attorney.

If you buy and later resell a one-to-four unit home, the seller disclosure form in IC 32-21-5 can apply to you, and some Hamilton County neighborhoods also trigger HOA notices before closing. Cities may also issue unsafe-building orders under IC 36-7-9, which can limit who bids at a sheriff’s sale. Our attorney guide explains when to bring in counsel.

Learn it with a mentor

Learn to handle damaged-house deals

Fire-damaged houses involve insurers, lenders and city inspectors. Mentorship students bring us the details, and we help them price, disclose and close them cleanly.

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FAQ

Fire-Damaged Houses in Indiana: common questions

Is wholesaling fire-damaged houses in Indiana legal?

Generally yes, when you follow the solicitation disclosure in IC 32-21-16.5 and disclose your role. Check current text. Every first message should say it is not from a licensed real estate professional and include legal names, as the statute asks.

Does a wholesaler need a license in Indiana?

Indiana has no wholesaler license. Licensing rules for acting for consideration still apply, so ask an attorney. The solicitation statute is not a license, so act as a buyer of the contract, disclose your role in writing and avoid brokering for a fee.

Who gets the insurance money?

It depends on the policy and the mortgage. Often the lender has a claim, so involve a title company early. Ask whether the insurer has paid, what the mortgage balance is and whether the policy names a lender, and handle proceeds in writing at closing.

Can I assign a contract on a burned house?

In most cases yes, unless the contract bars assignment. Use clear assignment language. Disclose your role as an assignor in writing, and give your rehabber the photos, the fire department report if the owner will share it, and any contractor estimate.

How do I price repairs after a fire?

Get a contractor walk-through, and allow extra for smoke, water and permits. Walk the structure with a contractor if you can, take photos, and check for any unsafe-building order before you sign, since cities can issue one under IC 36-7-9.