Seth Perlman, AP
While Hurricane Sandy threatens to hit the Atlantic Coast, it could also slow down the sales of unaffected homes after the storm passes, according to Bankrate.
In areas that are declared a disaster area by the Federal Emergency Management Agency, mortgage lenders will often want to have the home inspected again.
"Generally, the seller is obligated to deliver the house in the same condition of when it was inspected, and the seller is expected to maintain insurance on the house," Christine Smith, a real estate agent at Buyers Brokers Only, a brokerage company in Canton, Mass., told Bankrate.
Buyers should make at least one walk-through before closing a sale on the house. Often, the closing contract allows buyers to get their deposit back and walk away from the sale if there is significant damage to the house.
If the damage is minor, the seller and buyer might just agree on a price that takes these into account.
- Chinatown Supermarket opens in South Salt Lake
- Lawsuit accuses state of illegally pursuing...
- 9 startup companies perfect for your family
- Things are looking up in the economy, but not...
- BYU grad strikes gold teaching via online...
- U.S. economy grows at scorching 4 percent in...
- The wrath of Comic-Con: S.L. convention...
- Dave Ramsey says: Don't touch that 529 plan
- Dave Ramsey says: Don't leave an estate... 13
- U.S. economy grows at scorching 4... 12
- BYU grad strikes gold teaching via... 12
- Sarah Palin launches online... 10
- Dave Ramsey says: Don't touch that 529... 8
- The wrath of Comic-Con: S.L. convention... 8
- Utah Transit Authority eyeing electric... 4
- Consumer index climbs to record level... 4