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Heads Up! Even If You Don't Have Any Hurricane Damage Irene Might Still Delay Closing

It is our experience that when the Insurance Companies and the Investors hear that a certain "area" might be affected by a Hurricane, they do the following:

  • Require Inspections

What kind of Inspection depends upon the Investor,  Even if the storm has not reached Landfall yet,... let's say you have a closing scheduled for tomorrow - you probably have a problem.  Insurance Companies do not want to issue new policies to an area that they might have to turn around and put money out for.

Every State, Every Investor and Every Insurance Company is different.  This is just our Heads up that there will likely be delays in the next week - even if the property is FINE.

If you have questions about mortgage loans in NC, Call Eleanor and Steve Thorne, 919-649-5058.

 

 

Comment balloon 3 commentsEleanor Thorne • August 25 2011 03:09PM

Comments

Eleanor -- I never thought of this, but you're right. Just one more thing to add to the list!

Posted by Barbara Altieri, REALTOR-Fairfield County CT Homes/Condos For Sale (RealtyQuest, Fairfield and New Haven County CT Real Estate) about 6 years ago

Eleanor,  we're with you!  Had our closings all get their binders in yesterday and today!  This weather event could severely affect insurance PREMIUMS too especially here in NC!  Great info to get out there!!
Pamela

Posted by Lee & Pamela St. Peter, Making Connections to Success in Real Estate (Berkshire Hathaway HomeServices YSU Realty: (919) 645-2522) about 6 years ago

This is so True.. Hurricanes change things..

Ginger

Posted by Ginger Harper, Your Southport~Oak Island Agent! (Coldwell Banker Sea Coast Advantage) about 6 years ago

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