Let’s talk about flood insurance and flood zones and how it can affect your home. The question is not is a home in a flood zone, the question should be is the home in a flood zone that the lender would normally require to have flood insurance. This needs to be addressed when buying and selling a home and it is starting to become an issue. You can contact your insurance company if you don’t know if your property is or is not in a flood zone. Ask them for a flood determination.
If it is determined the home is in a flood zone required to have flood insurance the next steps would be to request a flood elevation certificate. This can normally be done along with the survey and there is a fee for it. Not all surveyors can perform this so I recommend verifying if this is an option before a survey is scheduled. Without the elevation certificate flood insurance quotes are usually very expensive. This is because flood insurance is now dependent on the levels of each individual property and no longer based solely on the zone itself. Therefore, getting a flood elevation certificate is very important. Waiting from FEMA for a flood determine can take around 4-6 weeks. and there is no rushing the process.
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| Debbie and Bruce Schwanbeck, Realtors at Ebby Halliday Realtors DebbieS@ebby.com BruceS@ebby.com 469.283.8656 |