We were lucky that the weatherman was wrong again about the severity of Hurricane Sandy in the Buffalo and Western New York area. Of course there was wind and rain, but very little damage was done. A few trees down but no flooding.
But post Hurricane Sandy, buyers in Buffalo, New York are feeling the affects on the closing of their homes.
As of Monday, most insurance companies are on lock down and are not issuing any new insurance policies. If you are closing a home in the next week or so, it wil be post poned because you cannot obtain any insurance.
We are also hearing about banks having appraisers go back out to properties to reinspect. For anyone who lives in Western 
New York, we know that people from other parts of the country think all of New York State is New York City. Underwriters from other parts of the country are assuming that we are all under water. So some closings are being delayed while they wait for appraisers to come back and inspect.
So we may have not suffered the damage that downstate New York has, but we are feeling the affects here. Buyers will have to be patient and understand. We may have not received the weather but we are feeling the after affects for sure.
Comments(1)