South Carolina Flooding Could Impact Employee Relocations and Home Closings
Hurricane Joaquin hit the Carolinas hard with unprecedented flooding. A large portion of South Carolina has been declared a Massive Disaster Area by FEMA with more flooding that could still happen as several dams are barely holding on as river levels continue to rise.
The areas hardest hit by this historic disaster will undoubtedly impact relocation programs in numerous ways:
Most lenders will be hesitant to close on anything until re-inspections are completed to ensure that the houses were not damaged by the flooding—which could result in delays for home purchases or sales as these inspections are scheduled and the need for any potential work is completed
It is believed that several courthouses were damaged which could impact obtaining the needed title work for home closings
The Supreme Court has also closed many of the courthouses
An estimated 300 state-maintained roads and 160 bridges remain closed which may not only hamper inspections, but also delay household goods deliveries
Temporary housing may be greatly impacted as more than 800 residents of temporary shelters determine their path to recovery
NEI is working with our service partners in the area to determine the full extent of the impact to our clients’ relocating employees and will be in constant communication with those affected.