Natural disasters can wreak havoc on homeowners and their properties. But what happens when a natural disaster occurs during the home closing process? Real estate agent Austin shares his recent experience with a delayed home closing due to a natural disaster in Monterey County, California.
On the day they were scheduled to close on the home at 7581 Chester, FEMA declared the entire county a natural disaster area due to the storm. Although the home didn’t suffer any damage, the lender put the loan on hold until an appraiser could re-inspect the property to confirm it wasn’t affected by the storm. The situation left Austin feeling helpless, as he was unable to make any difference while waiting for the lender to assign an appraiser.
What followed was a two to three-week wait with no updates until an appraiser finally came to re-inspect the property. Afterward, it took another week to close the deal, which was supposed to be a 21-day process. Throughout the ordeal, Austin and the buyer’s agent worked tirelessly to keep their clients informed and ensure that the deal closed.
This story emphasizes the importance of having a dedicated and knowledgeable real estate team working on your behalf during the home buying or selling process. It’s also a reminder that natural disasters can happen at any time and impact real estate transactions.
If you’re in the process of buying or selling a home, make sure to work with a real estate agent who can guide you through any unexpected challenges that may arise. By doing so, you can help ensure a successful and stress-free transaction.
