by Becky Huebner, Nebraska Home Sales Realtor
Awakened again in the wee hours by thunder claps and pounding rain my first thought muddled middle of the night thoughts were not for our own home but “what is under contract and what havoc will this storm wreak.” It’s 2 am and your Realtor is on duty.
Fair warning, this column holds more questions than answers. I have a good body of experience to draw on but this storm season added a whole batch of new scenarios and questions.
- What if a never wet basement suddenly is wet, or a tree branch lands on the roof or the shed door is blown off, or a window cracks, or the sump pump stops working and the property is scheduled to close in a few hours? (hint; it helps to have a fabulous handyman and reasonable, solution oriented folks involved)
- What if the above happens a week or a month before close? ( hint; there is a formerly little noticed paragraph in our purchase agreement, now on best read list, that addresses this)
- What if your roof has been damaged or destroyed by a storm? (hint; there is more than one way to solution this based on buyer, seller and lender, insurance company needs)
- What if the damage was so extensive that the homes interior was damaged? (hint; earlier mentioned paragraph in purchase agreement)
- What if, (my personal favorite) it is unclear if (a) damage has occurred, (b) the insurance adjuster cannot make determination in a timely manner (meaning to meet our real estate needs), or (c) if amount of settlement/extent of repairs is in dispute. (Hint: be very patient with your Realtor, this one made for a rough summer for some of us.)
While every situation is a little bit different a few conclusions can be drawn: Always, always, always disclose, nobody makes money on this deal (well, maybe the roofers), everybody involved gets a few more gray hairs, it’s helpful to know what you can and cannot solve, and experience really helps. I’m looking forward to some nice weather this fall. It might be a good time to do some real estate.