RANT! - Currently, BP is not paying claims to Realtors - 06-22-2010
I am a realtor in Destin, Florida and like many other agents, I have been affected financially by the oil spill. I have encountered canceled contracts from buyers and new contracts have slowed down to a snail's pace. I have emails stating that the buyers canceled because of the oil spill. To tell you honestly, I do not blame them for canceling. Transactions have slowed and there will be many more buying opportunities over the next 90 days. BP has caused this mess, BP has damaged our real estate market, and BP IS NOT PAYING CLAIMS TO REALTORS. When you go in and file a claim they will tell you that "no claims are ever closed". My representative told me that BP was analyzing the situation and no checks were being cut to realtors. They did pay a few in the beginning but this has stopped.
BP is paying the claims that benefit them politically. If you are a fisherman, you will get paid. Fishermen deserve to get paid, but what about all of the small businesses, Realtors, rental companies, etc, etc, that are affected by this spill. BP has killed our season and affected all of us on the gulf coast. I find it amazing that they are not processing claims for realtors but this is what I was told by the BP adjuster last week. I will update this blog the second things change.
I stopped by the claim center when I had my first cancellation and they were very nice; They assured me that "BP had plenty of money", and they would pay claims quickly. Real Estate in Destin Florida has slowed down and BP needs to pay claims for canceled contracts and lost revenue. If anyone gets fed up, you can hire an attorney. Below is the link to a law firm that specializes in this type of litigation.
CLICK HERE FOR LOVELACE LAW FIRM - OIL SPILL LITIGATION
I hope that BP will take responsibiltiy and clean up this mess. Currently our beaches are still beautiful with the exception of a few tar balls but the financial damage has been done and it is a shame because Destin, Florida real estate was in a recovery mode and BP shut this down.
UPDATE - 07/16/2010
A BP Rep called me last week and told me he was paying me a claim for my 3 cancelled contracts. I was so ready to write something positive in my blog. I called him everyday to follow up and yesterday he told me "BP has placed a hold on paying claims to realtors again". THANKS BP! I speak with alot of business owners and I have not heard of one person to say anything positive about BP and the claims process. They are not doing what is right.
UPDATE - 10/01/2010
I just received a partial payment of $12,000 on my claim. It seems that BP is beginning to cut checks. This is a good start.
Clayton Bonjean, Broker - Realtor, MBA, CDPE
850-585-1284
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