Does anyone know a reliable surveyor who could perform a flood elevation certification? We’re looking to buy a property and I need to know what the cost of flood insurance will be.
thanks!!!
Joel Russell 296-4448
Tel Him Brian Barraclough Sent you
Woodfloats?
The county that you plan to buy in should have that available to you for free.
Edit; when we bought property in Beaufort County(Lady’s Island) we were not required by the lender to have it, but after checking into it we decided it was a good idea. I think a strong Cat 2 or more would flood us with the lay of the land.
NN
07, 23 Key West, Twin 115 Yammys
“Coastal Bound”
if purchasing a used home , check with the previous / current home owner. They would have had to provide if they currently have flood insurance.
When we purchased our home on Johns Island we got ours from the previous homeowners.
2003 Sea Fox 195 Bayfisher
quote:
Originally posted by raynutz2000if purchasing a used home , check with the previous / current home owner. They would have had to provide if they currently have flood insurance.
When we purchased our home on Johns Island we got ours from the previous homeowners.
2003 Sea Fox 195 Bayfisher
It is an existing home, but the owners say they didn’t have flood insurance since there was no mortgage on the property. So we will have to get a elevation certificate then find out what the insurance will be before we can thing about putting in an offer.
Do your homework very carefully here. Lots of people stuck with properties they can’t sell now because the federal government is cutting the rates they (we) contribute to flood insurance.
Legislation is moving forward to put that off, but it is only going to put it off, and you may be stuck.
Don’t cut corners. Get a good surveyor and pay him to do it right.
“Let’s be honest. If you read the New Testament, you wouldn’t be Catholic.”…SkinneeJ
PM sent
Find out what year the property was built. If you have a mortgage and it’s in a flood zone you will be required to purchase flood insurance. Do some research on Biggert Waters. Also there was another law passed recently (HR3370) that will effect BW-12. The price of flood insurance for the previous owner may not be the same rate once the property is sold.
The Senate did just agree with the House to curb the Flood Insurance hikes (at least for the time being):
http://www.insurancejournal.com/news/national/2014/03/13/323273.htm
You definitely want a current flood elevation certificate. Flood zones have recently been updated in some areas, so check with your insurance agent what flood zone you are currently in.
On a side note, South Carolina now has private flood insurance. So, check into that if your rates with FEMA are extremely high.
Scott Fulton
AgentOwned Realty
Scott.Fulton@AgentOwnedRealty.com
I can tell you this, don’t ask an insurance agent what flood zone your in! They know how to punch numbers in a computer system mostly. Just send the address to my email I sent you and I will help you out.
quote:
Originally posted by jwsI can tell you this, don’t ask an insurance agent what flood zone your in! They know how to punch numbers in a computer system mostly. Just send the address to my email I sent you and I will help you out.
email sent!
We have the plat of the property showing the flood zone and I’ve spoken with our insurance broker. He indicated that he needs an elevation certificate and photos of the front and back of the house before they can provide us with a estimate of the flood insurance premium.
Thanks.