Ernesto will wreck havoc this week.

By
Real Estate Agent with Optimar International Realty

With two closings approaching this week, i have already started calling the other Realtors to remind them that in all likely hood we won`t be able to close because our Buyers won`t be able to obtain Hurricane Insurance.

I strongly suggest as Realtors in Florida or at least certain parts of Florida that you start emailing letters to the Sellers Agents documenting that the Hurricane may effect your closings. Many times, quite naturally the Sellers and their agents forget this little tidbit of information and attempt to hold the buyers liable, although it`s common sense, many Realtors are too new to understand whats happening. Sending a friendly reminder helps....

Comments (7)

David Eiglarsh
United Realty Group - Weston, FL
CRS, CDPE, Serving South Florida
Hi Erika, Since we won't be having any work this week, where's the party!??
Aug 28, 2006 01:06 AM
Erika Cannet
Optimar International Realty - Hollywood, FL

David,

I`m thinking of heading to our Ocala Office and meet a few clients up there this week. Last year we were able to close 2 transactions because of the huricane...

I think they`ll announce schools will be closed starting tomorrow...If that happens, i`ll be gone..

Aug 28, 2006 01:09 AM
David Eiglarsh
United Realty Group - Weston, FL
CRS, CDPE, Serving South Florida
They've already made the announcement. No school tomorrow!
Aug 28, 2006 01:46 AM
Teri Isner
Keller Williams Realty at the Lakes - Orlando, FL
GRI, CRS, CIPS
We started on this 45 days ago all closing in the hopper had to have the insurance binder paid up front just to avoid any delays like this.  This week will be interesting..
Aug 28, 2006 01:48 AM
David Eiglarsh
United Realty Group - Weston, FL
CRS, CDPE, Serving South Florida
Now I'm hearing that it's specific to one school due to construction on site (debris, etc). Either way, I'm sure they will cancel, probably by tomorrow.
Aug 28, 2006 01:54 AM
Mitchell J Hall
Manhattan, NY
Lic Associate RE Broker - Manhattan & Brooklyn
School started already in Florida? It's still August
Aug 28, 2006 06:27 AM
Sharon Simms
Coastal Properties Group International - Christie's International - Saint Petersburg, FL
St. Petersburg FL - CRS CIPS CLHMS RSPS
We always recommend that buyers arrange for insurance immediately after going to contract - pay for it early, so that you'll likely be able to close when there's a named storm in the box.
Aug 28, 2006 02:48 PM