“We’re In The Cone”…”It’s In The Box”…How a Hurricane Track Affects Your Tampa Real Estate Closing

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Jackie Colson-Miller
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Toni Everett Company
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A little lesson about “Boxes”, “Cones” and other “Hurricane Lingo” that can affect closing on your home in Tampa, or anywhere in the State of Florida.

Tampa was lucky last week, as Tropical Storm Fay zig-zagged her way across the State of Florida, dumping over 20 inches of rain in some areas, we barely got a sprinkle! While parts of the State are still flooded, yet another storm, Hurricane Gustav is already aiming for the Gulf of Mexico.

Why is that important to anyone buying a home in Tampa, or anywhere in Florida, over the next week, or so? If you overheard any Real Estate agents chatting over lunch today, the conversation might have gone something like this….Realtor A: ”What’s going on with Gustav?”… Realtor B: “It should be in the “Box” later today. Realtor C: “Are we in the “Cone”? Realtor A: “Not at this point, but we need to watch it, because we are on the East Side of the “Cone” right now and that is not good. Cone? Box? What, on earth, does all of that mean to the homebuyer coming from out of State where “hail” is the worst natural disaster they have ever seen!

Look at the illustration to the right. This is a tracking map of the 5-day projected path, as “predicted” as of 2 pm Wednesday, from NOAA. For the first time, this shows the West Coast of Florida is now in the “Cone”. Any area in the Cone may be affected by the storm, so Floridians need to keep an eye on it. Any one closing on a home in Florida, during the next few days, who has not yet secured homeowner’s insurance is likely not going to be able to.

WHY? All insurance binding is suspended when a storm is in the “Box” (see below), the “boxed area in the Atlantic and Gulf regions, and when the “Cone” shows that any part of the State of Florida may be Hurricanebox affected.

So, even if you are closing on a home in Tampa, and the storm is expected to only brush through Miami, you will not be able to get insurance and your closing will be delayed.

Additionally, Flood Insurance does NOT go into effect until 30 days after the policy is written.

So, there you have it…the “Boxes” and “Cones” of Hurricane Season mean…get your insurance policy as soon as you are under contract!

Need help finding the perfect home in Tampa, Clearwater, or any neighborhood in the Tampa Bay area? Contact me today!

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This entry was posted on Wednesday, August 27th, 2008 at 5:13 pm and is filed under Real Estate News. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

3 Responses to ““We’re In The Cone”…”It’s In The Box”…How a Hurricane Track Affects Your Tampa Real Estate Closing”

Sam Chapman Says:
August 31st, 2008 at 5:42 pm
Looks like you got soaked by Fay, you will dodge a bullte with Gustav, Hannah may not do much, but WOW do you people in Florida go through some anxious moments!
Riley Smith | Coconut Grove Real Estate Says:
September 7th, 2008 at 1:47 pm
Thanks for the great information..here in Miami I always have clients who are confused by the whole box issue. Great idea to give people an explanation of how it affects a pending contract.
Eric- New Orleans Condos and Lofts Says:
September 26th, 2008 at 12:59 am
In Louisiana if you close with a lender the policy can take effect immediately. It needs to be in place before the storm enters the gulf. A cash sale has to wait 30 days before the insurance takes effect. I have never closed on a home here that did not get flood insurance and am appraoching 500 sales.