Congress has not extended the flood insurance policy and it expires September 30th. What does this mean to you? If you have a closing after September 30th, around the first ¾ of the month of October, you may have an issue if the home is in a flood zone; which most of Florida is in a flood zone. If your broker has not gotten the flood insurance for your client before September 30th, then you will have to wait til congress extends the flood policy. Last time it took congress almost 4 weeks to do this. In our environment with contract dates, short sales, rate locks etc, we can't afford to wait one extra day, much less a month. Check your deals.
Neal Bloom is a top notch Weston REALTOR® specializing in the sale of real estate in Weston, Pembroke Pines, Davie, Cooper City, Sunrise, Coral Springs, Ft. Lauderdale, Hollywood Beach, Hallandale Beach, Coconut Creek and other area's of South Florida. Learn More