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Is the home pending settlement in the path of Hurricane Sandy?

By
Industry Observer with Retired

Is the home pending settlement in the path of Hurricane Sandy?

We just received a notice from Village Settlements, in Maryland, warning that some mortgage lenders are requiring a reinspection before settlement to show that there were no damages from the storm.

If you have a pending settlement in the storm area, you may wish to check with the lender to see if there will be an additional inspection requirement.  It is a good idea to check with each seller to ask about damages.

Have a great week.  Enjoy the colors of autumn with your camera in hand.

Butterfly, Brookside Gardens, Flowers IMG_5255

Photograph by Roy Kelley using a Canon PowerShot G11 camera.  

Roy and Dolores Kelley Photographs 

Posted by

Roy Kelley, Retired, Former Associate Broker, RE/MAX Realty Group

Gaithersburg, Maryland  

Comments (15)

Cheryl Thomson REALTOR Ret Army
United Real Estate DC Metro Region (703.216.5635) cheryltee47@gmail.com - Prince William, VA
Associate Broker in Northern Virginia

Hi Roy.  I guess you can't blame them...just delays settlement a little bit longer.

Oct 30, 2012 02:34 AM
John McCormack, CRS
Albuquerque Homes Realty - Albuquerque, NM
Honesty, Integrity, Results, Experienced. HIRE Me!

I can see why this would be suggested. 

Oct 30, 2012 03:00 AM
Roy Kelley
Retired - Gaithersburg, MD

Thanks for stopping by.  This will be an interesting topic to follow.

Butterfly, Brookside Gardens, Flowers IMG_5249

Photograph by Roy Kelley using a Canon PowerShot G11 camera.  

Roy and Dolores Kelley Photographs

Oct 30, 2012 03:04 AM
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Roy, this is the part of our business that causes GRAY HAIR!    We had a tornado hit a couple years ago in May, when MANY homes were set for closing.

Oct 31, 2012 01:05 AM
Belinda Spillman
Aspen Lane Real Estate Colorful Colorado - Aurora, CO
Colorado Living!

Hi Roy,  That would be so sad to have found your dream home and then have it damaged by the horrible storm.  I saw such a home on the news last night as they were showing some of the destruction.  It had a Re/Max sign out front with a SOLD rider on top.  I thnk it was Jersey.  Bet they are going to rethink that purchase. 

Oct 31, 2012 01:45 AM
Ginny Gorman
RI Real Estate Services ~ 401-529-7849~ RI Waterfront Real Estate - North Kingstown, RI
Homes for Sale in Southern RI and beyond

Roy, i just got word of this also on my waterfront and non-waterfront homes...it is a protection instrument and makes sense...great share

Oct 31, 2012 01:56 AM
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Roy,

Very interesting post.  We went through the same thing after the big earthquake in Los Angeles.  Even parts that had no damage were reinspected.  A

Oct 31, 2012 01:59 AM
Rebecca Gaujot, Realtor®
Lewisburg, WV
Lewisburg WV, the go to agent for all real estate

Roy, I hadn't thought of this, but it does make sense..suggested.

Oct 31, 2012 02:03 AM
Tim Lorenz
TIM LORENZ - Elite Home Sales Team - Mission Viejo, CA
949 874-2247

I can understand the lenders whating to know what they are lending on after the storm.

Oct 31, 2012 02:10 AM
Roy Kelley
Retired - Gaithersburg, MD

Your comments are much appreciated.  Real estate agents need to double check properties after major storms or earthquakes. 

Bee, Brookside Gardens, Flowers IMG_5261

Photograph by Roy Kelley using a Canon PowerShot G11 camera.  

Roy and Dolores Kelley Photographs

Oct 31, 2012 03:20 AM
Dana Basiliere
Rossi & Riina Real Estate - Williston, VT
Making deals "Happen"

Good point Roy,

The underwriters need to protect their investments.

Nov 01, 2012 08:15 AM
David Burrows
Classic Realty - Fairfax, VA
No Pressure, Just Seriously Devoted to Real Estate

Roy, this is important information for all of us within the area of the storm to pay attention to. Thanks for sharing it with us.

Nov 01, 2012 08:23 AM
Roy Kelley
Retired - Gaithersburg, MD

It is interesting to revisit some of our old blogs and reblogs. Some old messages will be good for new blog content.

Jan 16, 2018 07:23 AM