Hurricane coming during closing

[Tony Gatto]

Hey so we are in the end of a closing and a hurricane hits Bahamas.... and the lender decided they should bind insurance one day before closing.... of course insurers are not gong to bind

Any suggestions... i should have seen this coming as the lender and the lawyer is not very savvy with real estate.  I am the seller side

So does anyone know of a way to get that done now or during a closing ... and or a way to get the insurance we have on the home to pass to a buyer

I would think insurers would make a provision for closings 

regards

[Lynn McGeein]

Usually, there's an x-day extension already in the contract, standard is 10-day in ours, if needed for loan or title issues, which this should cover.  Expect closing delays when hurricanes are in the forecast, along with ports shutting down, schools and courts closing, evacuations, etc.  No matter how "savvy with real estate" a lender and lawyer are, they cannot change the weather, and no one could predict your scheduled closing date would fall within a hurricane warning.  Insurers do have provisions -- they delay until after the storm passes, and they may require an inspection to insure the property is in substantially the same condition as before.  Stay safe, and here's hoping the storm stays farther out and does not harm anyone else in its path.