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Old 06-15-2015, 11:44 AM
 
30 posts, read 68,976 times
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Just curious what people's thoughts are on this topic... I recently moved to Houston and will be experiencing my first real storm--well, second if you count Memorial Day storm. And also currently set to close on a new construction house @ end of this month.

Hearing all this hype, which is probably just that--a hype, about flooding, got me thinking... My house is almost complete. Say from this rain we're about to have, the house floods and the caused damage to the property (hardwood floors, cabinets, walls, etc...). What is my recourse?
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Old 06-15-2015, 12:14 PM
 
Location: Houston
581 posts, read 615,133 times
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If you haven't closed, you shouldn't have any worries.... It'll be the builders issue to fix still at that point.
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Old 06-15-2015, 01:16 PM
 
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Be sure to get flood insurance. It takes 30 days from the time you pay the premium to go into effect.
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Old 06-15-2015, 01:23 PM
 
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It is the builder's home until you close on it.
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Old 06-15-2015, 03:09 PM
 
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yes Builders home until you close but make sure you get flood insurance. It is super reasonable if you are not in a flood zone and their is no waiting period if you purchase and it is included on your HUD. However if their is a storm brewing in the gulf they will not write new policies.
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Old 06-15-2015, 04:27 PM
 
Location: spring tx
7,912 posts, read 10,088,668 times
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if it does flood, you need to make sure the builder takes the proper steps to both repair/replace the damage and they need to look at prevention.

what area of town is the home?
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Old 06-15-2015, 07:49 PM
 
30 posts, read 68,976 times
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So I spoke to the builder just in case (Perry Home in Sienna). And if its prior to close, its on them. The area did survive that 11" of rain we got during Memorial holiday weekend. Lets see if my luck continues...

Just for kicks, I also called my soon-to-be home insurance provider and they didnt say anything about restricting new policy. So at this point, its business as usual for them.

Looks like I'll be taking a drive down to Sienna right after the storm to check status...
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Old 06-16-2015, 07:41 AM
 
162 posts, read 178,173 times
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Quote:
Originally Posted by i_am_j11 View Post
Looks like I'll be taking a drive down to Sienna right after the storm to check status...
Sienna is fine.
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Old 06-16-2015, 08:06 AM
 
98 posts, read 99,235 times
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Takes 30 days for policy to kick in, as the insurance companies don't want people to run out and buy flood insurance when there is a storm in the Gulf (like today).

If you haven't closed, it's the builder's house, as other have said, and you likely (at most) would only be on the hook for the earnest money, as set forth in your contract with the builder.
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Old 06-22-2015, 08:05 AM
 
4,538 posts, read 6,448,719 times
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You dont need to show proof of ownership to buy flood insurance. You just cant collect on policy till you own it. Some folks buy policy 30 days prior to closing if they are super afraid of flooding
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