Property Damage from Natural Disasters Prior to Closing

Get Legal Help Today

 Secured with SHA-256 Encryption

Jeffrey Johnson is a legal writer with a focus on personal injury. He has worked on personal injury and sovereign immunity litigation in addition to experience in family, estate, and criminal law. He earned a J.D. from the University of Baltimore and has worked in legal offices and non-profits in Maryland, Texas, and North Carolina. He has also earned an MFA in screenwriting from Chapman Univer...

Full Bio →

Written by

UPDATED: Jul 15, 2021

Advertiser Disclosure

It’s all about you. We want to help you make the right legal decisions.

We strive to help you make confident insurance and legal decisions. Finding trusted and reliable insurance quotes and legal advice should be easy. This doesn’t influence our content. Our opinions are our own.

Editorial Guidelines: We are a free online resource for anyone interested in learning more about legal topics and insurance. Our goal is to be an objective, third-party resource for everything legal and insurance related. We update our site regularly, and all content is reviewed by experts.

In most states, if your contract does not specify who bears the risk of damage to the property from disasters like fire, hail, flood, or wind, the risk of loss is on the seller. In other words, if the building is damaged by fire before the closing, the buyer can cancel the purchase unless the seller restores the building to its prior condition. However, you and the seller can tailor the contract to contain a risk of loss provision which meets both your needs and wishes. Then, if there is a later legal dispute, a judge or arbitrator will make every effort to carry out the intentions of the parties as stated in the contract.

Get Legal Help Today

Find the right lawyer for your legal issue.

 Secured with SHA-256 Encryption