Few months ago a client of mine was interested in purchasing a home at Cyan. It was a 5-month construction time, and the price was right. During our visit we asked few standard questions. One question that I asked was the flood zoning. Sure enough the builder's representative said that the entire community is located in Flood Zone A. They have submitted Letter of Map Revision Based on Fill (LOMR-F) and waiting for FEMA's approval. They have opened their sales office in August 2007, and they have not built any homes as of yet due to FEMA's approval.
Centex plays a low key on this issue. The builders' representative assured my client that FEMA will approve their LOMR-F by the time her home was built. The builder's representative even said that if they do not receive approval by the time they complete my client's home, they will pay for my client's flood insurance for a year. I reviewed their blank purchase agreement but none of these where addressed in the contract.
By all means, I am not a flood zoning expert. Visit http://www.fema.gov/ if you want more details about flood zoning. My client was very thankful that I asked the question. She ended up buying a resale home because she does not want to take the risks.
I met a gentleman who put in an earnest money for his home in August 2007. He said that the builders kept delaying his home's completion time. They did not tell him that the community was in a Flood Zone A, and it was the reason for the delay.
Picture below was provided by my talented friend Ken Terry (775) 772-7031. Check out my other blogs for more photos of Reno, NV.
Damonte Ranch in South Meadows
As a buyer, what are some of the questions you ask the builders? Are you aware that your real estate professional can represent you when buying from a new subdivision?
As a real estate professional, what are some of the due diligence you do when representing buyers in new home construction?
Catherine T. Sinocruz, e-Pro, ABR, GRI, CRS
Broker-Salesperson
"Fluent in English & Tagalog"
http://www.catherinenevadahomes.com/ ~ Homes for Sale
info@CatherineNevadaHomes.com ~ Stay in Touch
Prudential Nevada Realty
1675 Robb Drive, Suite 6
Reno, NV 89523
(775) 338-3757 Mobile
Disclaimer: The opinions expressed by The Active Rain Network and its members and those providing comments are theirs alone, and do not reflect the opinions of Catherine T. Sinocruz of Prudential Nevada Realty. Catherine T. Sinocruz and Prudential Nevada Realty are not responsible for the accuracy or content provided by The Community. Contents of this blog should not be copied or reproduced without the consent of Catherine T. Sinocruz.
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