You’re glued to the TV watching the weather report. There’s a storm in the Gulf. You’re under-contract to buy a home, and it’s right in the middle of the cone.
So what does this mean for closing? What should you be doing before the storm hits?
As we enter hurricane season, it’s crucial for home buyers to be well-prepared. Purchasing a home during this time can present unique challenges, but being ready can make all the difference in safeguarding your investment.
In this article, we’ll dive into six tips for homebuyers during hurricane season and steps to take after hurricane season.
6 Tips For Homebuyers During Hurricane Season
1. Review Homeowner’s Insurance Policy
Ensure your homeowner’s insurance policy covers hurricane damage. You may have a separate deductible for named storms. Standard policies might not include flood damage, which is common during hurricanes, so consider purchasing separate flood insurance.
2. Bind Insurance Coverage
If you’re under contract and your closing date is near the expected arrival of a hurricane, it’s crucial to pay your homeowner's insurance premium to “bind” the policy.
Binding the insurance means your coverage becomes effective immediately, protecting you from potential storm-related damages. Insurance companies may halt issuing new policies or making changes to existing ones once a storm is within a certain proximity, often referred to as the “hurricane box.”
3. Inspect The Home for Hurricane-Protective Features
Before finalizing your purchase, conduct a thorough assessment of the home’s hurricane-resistant features. Look for:
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Impact-resistant windows and doors: These can prevent debris from causing damage during high winds.
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Storm shutters: A reliable way to protect windows and glass doors.
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Reinforced garage doors: To withstand strong winds and prevent structural damage.
4. Know Your Flood Zone
Understanding the flood zone of the property you’re buying is critical. Flood zones can affect:
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Insurance premiums: Higher-risk areas typically have higher insurance costs.
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Necessary precautions: Knowing your flood zone helps you take the appropriate steps to mitigate potential flood damage.
If you’re unsure of your flood zone, visit FEMA’s Flood Map Service and search by address.
5. Develop an Emergency Preparedness Plan and Secure Important Documents
If you’re in the path of a hurricane, it’s essential to have a plan to keep yourself, your family, and your personal property safe. Your plan should include:
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Essential supplies: Stock up on water, non-perishable food, medications, flashlights, and batteries.
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Evacuation routes: Know your evacuation routes and have a destination planned in case you need to leave your home.
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Communication plan: Ensure all family members know how to contact each other and where to meet if separated.
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Secure vital documents: Keep all important documents, including title deeds, insurance policies, and identification, in a secure, waterproof location. Consider digital backups as well, stored in a secure cloud service.
6. Stay in Communication & Be Flexible
Hurricane season can impact real estate transactions. To navigate these potential challenges:
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Stay in communication: Keep in touch with your title company and real estate agent to stay updated on any changes or requirements. Open and frequent communication will help you stay informed about any developments or delays.
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Plan for flexibility: Understand that inspections, appraisals, and closings might be delayed due to storm conditions. Being flexible and prepared for potential changes can help reduce stress during the transaction process.
Unlike traditional title companies that can be difficult to reach, TitlePilot prides itself on proactive and comprehensive communication. We contact the buyer, seller, and both agents directly, ensuring everyone is on the same page. We communicate key dates and circulate updates to all parties involved. This is particularly important during a hurricane, where we elevate our communication efforts to keep you informed and prepared for any adjustments or delays in the closing process.
In addition to superior communication, TitlePilot offers unparalleled flexibility in closing options. We can close from anywhere, sending a notary anywhere in the U.S., or utilizing remote online notarization (think Zoom + DocuSign combined). This makes it much easier to finalize your home purchase even if you are displaced or unable to travel due to the storm.
Post Storm Procedures
After a hurricane if you were unfortunately impacted, take the following steps:
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Document damage: Take photos and videos of any damage for insurance claims.
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Contact your homeowners insurance company: File claims as soon as possible.
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Understand your rights: Know your rights and responsibilities under your insurance policy and local regulations.
Let TitlePilot Help You Navigate Your Home Closing During Hurricane Season
Buying a home during hurricane season in Southwest Florida requires extra diligence and preparation. By taking proactive steps, you can protect your investment and ensure a smoother home-buying experience.
As Florida Natives, we understand the stress of hurricane season. We’re not just your title company; we’re your neighbors, and we’re committed to ensuring your home-buying process is as smooth and secure as possible.
At TitlePilot, we’re here to help you navigate these challenges with confidence. Our experienced team is dedicated to providing the support and resources you need to close on your home safely and efficiently, even during the unpredictable hurricane season.
Our experienced team is dedicated to providing the support and resources you need to close on your home safely and efficiently, even during the unpredictable hurricane season.
Contact us for more information on how we can assist you with your title and insurance needs.
