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pray that it never happens....
as you said Winston, they are unforseen so I guess, prepare for the unexpected! kinda broad huh?
Few people listen when I suggest they move North.
Today, no advice is necessary. Diligence and disclosure is on point
How can you give advice when it's unforeseen? For example, I wouldn't think of talking about preparing for an earthquake in Florida but we definitely get asked about hurricanes (haven't really had one in years!) all the time.
My advice is: Expect the unexpected!
Look at all the likely threats to impact your area. Rate them on a scale of 1-10 for liklihood of occurrance and also for level of devistation. Then use the rating scale to sort them by most likely to occur with a secondary sort on most damage.
Make a plan that addresses the top 3-5 (one plan for each). Then annually review that plan and as time permits add new plans for additional disasters. I was involved in this for my old job at the hospital. Cyber attack and prolonged loss of IT systems.
For an example, I'm in Souther California. Earthquakes and Fires are my two biggest threats. Our county has a large biotech company (Amgen) headquartered here with production. At one point it had government contracts. We also have two military bases. An accidental release of a contagion from Amgen is one threat that I've chosen to not worry about given the liklihood of the event happening and realistic protective measures (even the investing group "The Motly Fool" worried about that). Another threat is an attack against the bases by an invading army. Again, low risk of occurrence and not much I could do.
Flooding from torrential rains, that's one I'm working on now.
The law will supersede any contract in the case of an emergency. We had the Northridge earthquake in 1996. No contract terms could have forced a buyer to purchase a home that was damaged in the earthquake. The word unforeseen indicates unpredictable so it is not possible to cover the unforeseen. I might be wrong on this one though. I'd like to hear if I am.
Other than I think everyone should have flood insurance no matter where they live, I can't think of anything.
Flood insurance (might only cover a percentage of damage) Build on higher ground. Keep sand bags handy (just the bags and fill with dirt). Move things you treasure upstairs. Flash lights, extra batteries, shovel, plenty of bottled water and (this may not be P.C.) a gun that you know how to use. Be kind to neighbors and team up. Can you get your vehicles on blocks? Know how to turn off gas and power. Have an out of state contact person to relay calls (local phones might not work) Donate to Salvation Army (not the Red Cross)
I grew up in a small resort town on the Russian River in Sonoma County, California. The river has been subject to flooding for years. I always tell anyone thinking of buying in the town to never buy any home UNDER the water "riing" on the Redwood Trees! As far as "Unforseen" I don't really get the term. If you live in "Tornado Alley" I don't think losing your town or house to a tornado is unforseen. Hurricanes in Florida--Unforseen? Summer flooding in the south? Unforseen? Fires in the summer time in our area of "high severity fire areas" Unforseen?
Even in my parts for number of properties I suggest in getting flood insurance
Winston Heverly If the property is in a flood zone, it is a good idea to get flood insurance.
I don't really give advice, if I was a real estate agent in the area I guess advise people to get insurance and make sure it covers floods.
To make sure one has enough insurance coverage....
I honestly don't give advice on disaster prepation. It is not in my realm of expertise. I do think we should all have a box o two of must-have paperwork if we need to flee from our homes.
None - I'm not a weather forecaster, nor do I have a fully functioning crystal ball!
"...do you give BEFORE unforeseen disasters....."
Hmm, "Don't stand there?"
Hmmm, "Nothing bad happens in Wyoming."
Hurricanes happen. Sink holes happen. People do bad things. Banks do bad things. Governments do bad things. Elements of anarchy and chaos seek opportunity.
But what you can control is your perception and reaction, then choose kindness.
I expect that many home owners will suffer because they failed to purchase flood insurance. This becomes a good reminder for those without flood insurance.