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Sunday, June 22, 2014

Closing your Florida Home Purchase During Storm Season

It is now hurricane season in Florida.  It happens every year and most experienced residents know what to expect and how to get ready for hurricane season.  But if you are moving to Florida and buying a home during hurricane season you may have to work around a storm.

Related Article:  Hurricane Survival Guide.

If you are buying a home in Florida during hurricane season it is important to address the homeowner insurance up front and not wait until shortly before closing.  This is particularly critical if a storm starts brewing in the Gulf or Atlantic as your closing approaches. Once a named storm rears its potentially ugly head many insurance companies stop writing policies based on the projected path.

What about your scheduled closing if the there is a coming storm?  The standard Florida real estate contract has a provision for delaying the closing for a defined period.

Once a storm has passed I always advise buyers to obtain a new inspection to assess any storm damage from the storm.

Closing your Florida home purchase during storm season is no different than any other time of the year if you plan for the potential storm.

Hurricanes don't happen often but what is that law?  Oh yeah, Murphy's Law!

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