Nationwide, weather upheaval is causing ever-changing flood zones. As a result, the Federal Emergency Management Agency (FEMA), is constantly updating their flood maps. Insurance companies determine their rates on this and other proprietary information. Navigating FEMA's public database, however, is at best a challenge and provides no certainty for homeowners or real estate agents.
In property transaction, it's crucial to determine correct flood zone status before the buyer's lender gets involved. If the property is found to be in a flood zone, the lender may require several thousand dollars in flood insurance. In fact, it would benefit any homeowner with, or without a mortgage to re-evaluate their flood zone status.
Powerful new tools at my disposal provide certified information, with a process to reverse improper flood status identification by a lender. This more reliable information can possibly reduce or eliminate the cost of flood insurance.
Call or email me for more details at 617-275-6240, or Lesley@Palmiter.pro.
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