Flood insurance
10 years ago
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- 10 years ago
- 10 years agolast modified: 10 years ago
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Nashville floods - an update
Comments (11)You are right, people are more important than any possessions but I'm sure glad you found that ring. As for the purse thief, well, they will pay for that action eventually, Grandma taught me that "what goes around, comes around" and it sure will. Thankfully, I"ve never had to deal with floods or tornados destroying my own home, although I live in an area that is prone to both of those and have had family members who have had homes destroyed. There are always items you reach for and then realize they are gone and those can't be replaced. At least everyone is safe, so I'm thankful for that, and you and your fmaily will continue to be in my prayers. Annie...See MoreFlood insurance
Comments (6)Seems rktman is right on the ball. The BFE isn't known so the surveyor has to apply for it through the DNR. Once that's had, they fill out the LOMA and MT-EZ forms and apply for letter of exclusion from FEMA. Since I now understand it a little better looks like we'll be out about $1K in fees and flood insurance in the interim since we're basically having to prove common sense. This is all very frustrating since the guy 3 cubes over is the keeper of GIS maps (I work for the Army Corps of engineers although I'm not a civil) which determine the FIRM's. I know what the BFE is but have to get it documented through the channels to make things work. I could understand if it was close but there's easily a 30 foot margin above the BFE+2ft. Thanks for you inputs. I love this site....See MoreI Sold My House Twice and This Deal Might Fall Through Too
Comments (23)Ncrealestateguy, I thought I covered the bases because I waited until my buyer's buyer had his mortgage commitment, and I waited until the inspections were done and approved, plus he didn't have a house to sell. So you are saying I should wait until my next buyer actually closes on his house? How can someone wait to go house shopping until they close on their house? Don't they have to get out? I can't imagine there are many people who can move twice by renting in between deals. I have a couple of people coming in the next few days. One of them is closing on his house in two weeks. They need a place to move to. What do I do, tell them I can't accept an offer until they actually close? Won't they then go and look for another house that they can make a deal on? I thought of offering my buyer some more money off to help him pay for remedying his situation. In fact, I expected him to ask me. But he sounded adamant that his deal was over. Maybe I'll try. I will also tell him what Kathy and others said. I got the feeling he thinks his buyer's lawyer used this to try to get more money off the price though. I bet that lawyer said, "It's a buyer's market, you can get twenty grand off for this." Someone misunderstood. It's not MY house that's in a flood zone. Live Wire, I'm not getting a mortgage. The new location is attractive because I want to move back home to my family. My mother died last year and I got terribly homesick. Yesterday, my father passed out in his apartment, woke up on the floor and was vomiting blood. I don't know how he didn't hit his head or choke to death. He's now in the hospital and I'm ten hours away. I know the area quite well because I lived there for 44 years. It's my home state. We are not getting rid of the horses because they are our life--not only my daughter's, but my husband and I ride too. It's a lifestyle for all of us and not only that, we are responsible for these animals. You guys gave me an idea though of asking the seller of the house I'm trying to buy if we could rent it while we're waiting to sell this. It's empty. Getting some money would take some of the pressure off the seller and also show him how serious we are so he would maybe give us more time to find another buyer and allow us to stay in contract. I have confidence that I'll sell it again in a timely manner. I've actually "sold" it not twice, but three times since the fall. I don't even count the first lady because that deal fell through so fast (something turned up on her credit report.) What do you guys think of that? This way I'm renting, but I'm not moving twice....See Moreflood insurance going up?
Comments (6)We've seen 25 - 40% increases here in SE Wisconsin and N Illinois areas. If you carry a mortgage you will be required to carry flood insurance. It's gotten difficult and the mortgage companies are relentless. I personally would never consider purchasing on a river or ocean but that's because I sell flood insurance. If the structure itself is not in a flood zone then it will be worth getting a certificate of elevation completed by a surveyor. If the structure is elevated above the water level it will also be a good idea to get the certificate of elevation. I've seen premiums as high as $5000 in flood zone AE. Call your insurance company and get a quote on the property before you make this decision. They will order a flood determination and be able to give you an idea of what the premiums worst case scenario would be. A certificate of elevation can help decrease the worst case scenario. Ask your realtor to check with the seller to see if they already have a certificate, atleast then your insurance company will have some ideas as to the risk....See More- 10 years ago
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