Land Surveys for Real Estate Purposes
- Boundary Survey
- Flood Zone Determinations
- Elevation Certificates
Realtors - Get to know about Flood Risk for your clientsWith the revision of Collier County Flood Maps in 2012 and the new Insurance Rates hitting much of Collier County, Realtors need to be pro-active in helping their clients' awareness regarding flood issues.
If you're representing a seller, it would be wise to first determine if they're in a hazard zone. If so, ask if they have an elevation certificate. The elevations provided on the certificate can shed some light as to whether flood insurance rates for a new buyer may be a "deal breaker". If this is the case, this is where it gets tricky because there may not be anything that can be done, but being aware of how this may affect a home sale should help with handling offers, etc. The reality that a CASH buyer would be the easiest to sell to could help with the process of dealing with offers (Cash offers would not have a "requirement" of flood insurance). If their elevations are positive and/or the home qualifies for a letter of map amendment (LOMA), this may be something the seller wants to pursue while selling, or prior to listing as a "sales tool" so that potential buyers realize that flood insurance shouldn't be an issue.
If you're representing a buyer, when finding a home that your buyer is interested, ask questions of the seller:
- Is your home in a flood hazard zone?
- Do you currently have flood insurance?
- How much is your premium?
- Is this the seller's primary residence? (This may affect the premium price)
We at Benchmark Land Services, Inc. can not only take care of the Elevation Certificate for your clients but we will answer your questions with determining flood zones and the process discussed above regarding flood insurance and/or applying for a LOMA and having a home removed from the hazard zone.
Don't hesitate to call or email Jane or Jill to help you be a "Super Star" with your clients!