Special offer

NEW FLOOD MAPS CORVALLIS, OR......... Do you have an elevation certificate?

By
Real Estate Agent with CB Valley Broker

The new FEMA flood maps are out and things have surely changed in Corvallis, OR.

Homes that never had the touch of water are now in the flood plain and with that flood insurance is a big factor in selling a home.

The most important document to obtain is an elevation certificate. Established by a surveyor, it gives an insurance carrier the data needed to assess risk and with that establish the right amount of premium for the property.

Are you planning to sell your home in Corvallis, OR or in North Albany, OR? Then determining if your home is indeed in the flood plain is the first step.

Visit www.floodsmart.gov , type in your address and your risk level will be shown. Provided that you are in a flood zone the next step is to find out if you already have an elevation or flood certificate. If not, call a local surveyor and get it done.

It is entirely possible that you never had flood insurance before, especially if you do not have a mortgage. If you had a mortgage in the distant past it could be that at that time your home was not required to carry it.

Flood problems are on the rise nationwide and tackling this before you put your house on the market will take one more hurdle down to successfully sell your home.

 

Comments (14)

Tammy Lankford,
Lane Realty Eatonton, GA Lake Sinclair, Milledgeville, 706-485-9668 - Eatonton, GA
Broker GA Lake Sinclair/Eatonton/Milledgeville

when that happened around my lake I had literally hundreds of former clients calling because they got that dreaded "you must buy flood insurance letter" from their lender.  Less than 10% actually had to purchase it.  You should gather some surveyor numbers and be ready for calls.

Nov 15, 2011 10:14 AM
Mel Ahrens, MBA, Kelly Right Real Estate
Kelly Right Real Estate - Hood River, OR
Customized Choices for your Real Estate Needs

A very good and timely reminder! It has amazed me some of the houses that show up in the flood zone. It's good advice to ALWAYS stay up to date on that (and get appropriate insurance!).

Gretchen

Nov 15, 2011 11:05 AM
Bob Zorechak - ABR, GRI, e-PRO
Keller Williams Realty Metropolitan - Morristown, NJ
Sells Homes in Morris/Somerset/Hunterdon Cos., NJ

This is a rather new phenomenom that is plaguing many unsuspecting sellers in today's market.  I had a deal go south because the seller had no idea his property had been included in a flood zone after living there for more than 20 years. 

Nov 15, 2011 11:54 AM
Annette Sievert
CB Valley Broker - Corvallis, OR
Corvallis, Oregon

Have done so, Tammy, spread it!

Another thing to work on for sellers, thanks for the comment, Gretchen

Bob, same here.. people have no idea

Nov 15, 2011 12:55 PM
Howard Weiss
Fathom Realty - Arlington, TX
Arlington & DFW, TX

Annette, hopefully people understand that floodsmart.gov only gives an appoximate determination of the flood hazard zone for their property.  I've seen too many people take it as the primary source for their flood zone and then it turns out to be wrong.  They need to read the disclaimer.  Only someone trained in reading the flood maps can really tell with certainty if a structure is in a flood hazard or not.

Nov 15, 2011 02:01 PM
Annette Sievert
CB Valley Broker - Corvallis, OR
Corvallis, Oregon

I agree, that makes an elevation certificate even more important. But banks and insurance companies get their data from the FEMA maps...

Nov 15, 2011 02:43 PM
Sussie Sutton
David Tracy Real Estate - Houston, TX
David Tracy Real Estate for Buyers & Sellers

I had a person come to me and wanted to construct two homes on two adjacent lots that he had just purchased. The were not only in the flood plain but in the FLOOD WAY! Nothing can be constructed in the flood way... poor guy!

When I asked him who his REALTOR® was he said he just used the agent who sold him the land.....this was so wrong in so many ways...

Nov 15, 2011 03:22 PM
Jill Watts
Realty Pro, Inc. - Vancouver, WA
A Luxury Experience at Every Price Point!

Here in Washougal, WA along the Washougal River...Clark County has not determined flood zones above the Little Washougal River. So, an Elevation Certificate survey is required to sell a home.  But, basically flood damage depends on the luck of the draw depending on how the homes have been built. Many have "flood gates or flood doors" built into them. Some flood, some don't. 

PS..call around for elevation certificate surveyors...they range far differently in prices and skills.

Nov 15, 2011 03:33 PM
Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

Annette, thans for the information as well as link to FloodSmart.Gov - saved your post for references for my buyers as well as sellers.

Nov 15, 2011 04:43 PM
Annette Sievert
CB Valley Broker - Corvallis, OR
Corvallis, Oregon

Sussie, what a poor guy!

Jill, that is a good tip, thanks

Very good, Praful, thanks!

Nov 15, 2011 04:54 PM
Rosalie Evans
Meritus Group Real Estate - Sioux Falls, SD
The Evans Group, Sioux Falls, SD Homes For Sale

I am having flashbacks to my last transaction. A condo on the third floor that needed a elevation certificate to close. Wow those puppies are expensive! We finally got to the closing table and my buyer was more then awesome but wow what a nailbiter! 

Nov 15, 2011 05:02 PM
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

It may be a good idea to have home insurance contingency when submitting an agreement of sale. Thanks for sharing.

Nov 15, 2011 10:13 PM
Annette Sievert
CB Valley Broker - Corvallis, OR
Corvallis, Oregon

Wow, Rosalie, on the 3rd floor???

Gita, that is a really good idea!

Erica, at least get in writing that you warned them...

Nov 16, 2011 07:18 AM