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The Natural Hazards Disclosure Act, under Sec. 1103 of the California Civil Code, [1] states that real estate seller and brokers are legally required to disclose if the property being sold lies within one or more state or locally mapped hazard areas. The law specifies that the six (6) required hazards be disclosed on a statutory form called the ...
If investor-owned properties increasingly dominate flood-prone areas, the region may see a shift in property values and community dynamics as fewer long-term residents choose to live in high-risk ...
In this sense, a base flood is synonymous with a 100-year flood and a floodplain is synonymous with a special flood hazard area. This base flood "is used in the National Flood Insurance Program (NFIP) to indicate the minimum level of flooding to be used by a community in its floodplain management regulations."
The National Flood Insurance Program (NFIP), for example, is one primary supplier of surplus lines policies, and it underwrites flood policies for homes across the country. NFIP insurance might be ...
In the United States, a seller disclosure statement is a form disclosing the seller's knowledge of the condition of the property. The seller disclosure notice or statement is anecdotal and does not serve as a substitute for any inspections or warranties the purchaser may wish to obtain. It also does not serve as a warranty of any kind. [1]
The commercial real estate industry faces an intensifying threat from flooding, which is likely to lead to billions of dollars in increasing costs, a new study
Flood insurance is the specific insurance coverage issued against property loss from flooding. To determine risk factors for specific properties, ... Cookie statement;
A Federal Emergency Management Agency (FEMA) flood elevation certificate provides specific property elevation information and may be especially beneficial for homeowners in high-risk flood zones.