Tropical Storm Fay gets in way of home closings

The lingering and possibly loopy path of Tropical Storm Fay so far may be of little consequence to most in the bay area — unless you're trying to close on a home. Many insurers, including state-run Citizens Property Insurance, have a "no-bind" policy in place whenever a tropical storm or hurricane watch or warning has been issued by the National Weather Service for any part of Florida. That means that since Sunday, those who have not finalized insurance coverage on the sale of a property are in waiting mode until Fay takes off for good. If the storm intensifies and loops back into Florida after a brief time in the Atlantic as forecasters anticipate, that wait could go on a bit longer. The good news for home buyers in the storm's path: at least they're likely to find out about that leaky roof before they close.

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