Post Hurricane Real Estate Issues
Now the fun begins.
Having been involved in post water weather issues right after Super Storm Sandy hit the Jersey and NY coasts, I can tell you that the heartache of seeing the devastation is nothing compared to what is about to happen.
Super-kudos (if that’s a thing) to everyone that has been helping communities, people and business get out from under the horrible destruction of property.
When they are gone, you are left to get your life back together. It’s like starting a new job without any training or experience. You have houses, cars and personal items that need to be fixed or replaced.
These are the people you will need to contact.
- Your mortgage company (if you own a home). They have an interest in your insurance policy just like you. They want the claim paid and paid quickly and work redone as much as you do. They need to sign the check you get from the issuer. Since each company handles things differently, ask them what their guidelines are and ask them how they can help.
- The insurance company for your homeowners or renters policy. They cover the structure and your personal property. But, if you have flood insurance, now you are dealing with then (not taht many of you have it, http://www.marketwatch.com/story/only-14-of-the-3-million-households-hit-by-irma-have-flood-insurance-2017-09-12) It is confusing. Here is a link to the FEMA site to tell you what they cover. https://www.fema.gov/news-release/2017/08/25/what-does-flood-insurance-cover-basement
- Lawyers. Yes, lawyers. Why? Because insurance companies (that included the national flood insurance) does not like to pay claims. The people of Sandy know that all too well. Go to http://stopfemanow.com and see what went on there and ideas on what to do.
- Talk to a real estate agent that you trust. It may be that you can never get back the value in your home by rebuilding and the land may have more value.
- Become a community. Power in numbers. If you are going to stop the non-payment from insurance companies, everyone needs to stand firm and make sure they pay everyone. Start with your local authorities but put together a Facebook or other social media group so you can all share. (BTW, if you are in FLorida, join: https://www.facebook.com/StopFemaNowFlorida/
- Remain calm.
- ONLY use contractors that you know and trust and come recommended. Check Angie’s List, Google reviews, etcetera for any info about anyone that will be doing the work.
SMILE!! This is a pivot moment in your life. You may return to close to what you had or you may be moving on to a new adventure. Enjoy it, embrace it. There was nothing you could have done to stop the weather so let’s just make the best of it!