Real Estate Queensland

Maps do change, and flood zones change. You can request an old flood map from your insurance agent or local officials. Make a copy of the flood map section where your home or possible future home is located. Even if not required, because your home is not situated in a designated flood zone, you may want to consider purchasing flood insurance just as added protection. An insurance agent recently stated that more than 25% of all flood insurance claims result from flooding in areas not in flood danger zones.

When out looking into neighborhoods that hold some buyer interest in you, drive through the area right after a rain, or a heave downpour to see if there are any flooding issues that you need to be aware of. One realtor did this after a heavy rain, and about a week before closing, and found that the subject home had water going right up to the front porch, and it looked llike the house was an island in a lake. Of course, the buyer did not proceed with purchasing this home, after the helpful agent took photos and showed the buyer the condtion of the area after the heavy rain. This is how helpful many real estate agents are.

They try to look after the best interests of both buyer and seller because now, many agents are transaction brokers, meaning, they represent the real estate transaction, and not any one party to the transaction. This makes for a more equitable, harmonious real estate experience for both buyer and seller, as there is not single agent to principle relationship in which seller is the one usually getting the best deal. Those days are over, as more and more single agency practices are being eliminated. In Florida, all real estate agents, as of a recent law, are considered to be working for the transaction, unless a form has been signed by the agent and either the seller or buyer stating that agent is in a single agency relationship.

Make sure that the flood insurance on your property does not lapse. You may not always receive a reminder to renew. You also want to get the building elevation, and flood zone type that the home was built in, and the builder would have had and probably still does, have that information. You might be able to have your home removed from one type of zone, such as flood zone A, to qualify for a lower rate, preferred risk policy.

Your agent may also be able to have the flood insurance policy that seller has to be transferred over into your name so that the insurance coverage continues unbroken. You can take some beneficial action at the local governmental level and push to get your community involved in a Community Rating System. This system provides for discounts on insurance premiums based on local community activities and regulatory standards being met. Discounts on flood insurances allows a safer community for everyone, since flooding has an impact not on just a homeowner, but on the entire community.

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