FEMA and Buying Real Estate

If you have a home/property under agreement right now and the appraisal was done prior to Hurricane Sandy and you were in the path, your appraisal may have to be redone.  It makes sense when you think about it.  The property that you are buying and getting mortgage on, may have suffered damage that reduces its value and/or requires repairs that are covered under disaster relief insurers such as FEMA.  So, look over your purchase and sale documents, review the insurance provisions and contact your lender.  This may also result in a delay in closing escrow, so be prepared and Good luck!

My Home Pick of the Week

Head of the Pond Road in Vineyard Haven

This is the vista from this special home with 150 feet of private beach on Lagoon Pond, just listed with an asking price of $1,395,000.  On 1.32 acres of land, this bird lover's property is also conveniently located, yet private.  Among its features is a sauna!  3 bedrooms and 2 full baths in this 2,300 square foot home.  Call me if you would like to arrange a private viewing or would like additional information.  508-939-0206.

Visit our website to see the homes and all other types of properties currently available for sale on the Island.  HomesonMarthasVineyard.com  We also offer vacation rentals!

Stay tuned for updates on the Vineyard real estate market and information on "world at large" influences on your life and future real estate plans.

Susan

Susan@HomesonMarthasVineyard.com

"We make it easy to find your way home!"