Florida real estate professionals are reviewing active deals as Tropical Storm Isaias strengthens in the Gulf and threatens parts of the state later this week. A state of emergency covers 25 counties across the Panhandle, Big Bend and North Florida. The approaching storm could disrupt inspections, appraisals and closings, but it does not automatically pause contract deadlines.
Key takeaways
- Storm-related delays do not automatically change real estate contract deadlines.
- Some Florida contracts allow time extensions when severe weather prevents performance.
- Buyers, sellers and agents should check upcoming obligations and communicate with service providers early.
Preparation starts with reviewing the specific contract and the status of each transaction, rather than assuming a disruption will extend deadlines.
Contract deadlines may still apply
The Florida Realtors/Florida Bar “AS IS” Residential Contract for Sale and Purchase includes a force majeure provision that addresses hurricanes, floods and other extreme events. If such an event prevents a party from performing an obligation, applicable time periods—including the closing date—may be extended for a reasonable period, up to seven days after the event no longer prevents performance.
Whether a provision applies depends on the contract terms and circumstances. The storm itself does not automatically suspend a deal, so parties should seek legal guidance if they are unsure how an obligation or deadline is affected.
Review transaction schedules and access
Agents can identify potential pressure points by checking near-term contract dates, inspections, appraisals, walk-throughs and scheduled closings. Lenders, closing agents, inspectors and appraisers may need to reschedule if weather affects operations or travel.
Buyers should stay in touch with insurance professionals about coverage and timing. Participants should also confirm how they will access a property if conditions worsen, especially where a listing is in an area that could be affected. The contract may address property access after a hurricane and the handling of casualty damage before closing.
Communicate early as conditions change
Keeping buyers and sellers informed can help them respond if weather disrupts services needed to complete a transaction. Agents can monitor approaching deadlines and check in with relevant providers before schedules become difficult to change.
The central message is to avoid assumptions: review the contract, communicate promptly and get legal advice when questions arise. Florida Realtors also points members to its legal and hurricane-preparation resources.
Sources
- Florida storm threat puts transactions on watch, | Florida Realtors.