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3 years ago
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It was not disclosed that the house we want to purchase is in a flood plain. Who should be responsible for disclosing the information - and which party should pay for the necessary survey to have t...

he flood insurance waived?
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3 years ago
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the sellers should disclose if they are in a flood plain if they know that they are. But depending on the location of the house, the real estate agent you are working for can figure out if it is or not. The survey is a buyer responsibility and an encouraged one no matter where the house is located. If the sellers pay for flood insurance then they knew about the flood plain situation. I don't know what state you are in, but in NC this is a disclosed section of the offer to purchase and contract. Also keep in mind that just because the house is in a flood zone it does not mean it necessarily needs flood insurance. Sometimes FEMA exempts properties that are in a flood zone but have been built up on a higher elevation. Let me know if you have any other questions and I can try to help you find where this information can be found.
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