Sellers often don't know their own Flood Hazard Zones

Real Estate Agent with Shore Realty of the Outer Banks

Our market centers on a tiny strip of sand bordering the Atlantic Ocean called the Outer Banks of North Carolina.  You could say we are part of "hurricane central" which can mean occasional flooding. 

Here, as you can imagine, we live by the FEMA special flood hazard zones. 

The flood insurance coverage we carry (or not) is dictated by lenders of federally-backed or federally-insured loans and the lenders are the entities who dictate what kind of insurance we must carry and can obtain.

One of the most popular destinations for vacationers and thusly investment/rental property buyers here is the area of Corolla in the northern Outer Banks.  Corolla lies in Currituck County, which after about 20 years adopted FEMA's new flood maps in December of 2005.

You would be shocked at how many owners never knew about these flood zone changes and subsequently, we are now finding out just how many owners currently for sale have no clue what their current flood zones are.  Admittedly, these are largely absentee owners...but that is no excuse for not being on top of something as important as flood zones.  

To view the rest of the article go to Outer Banks Community Forum

Go here for more on flood zones and flood insurance.

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