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Old 01-02-2014, 02:15 AM
 
517 posts, read 1,092,183 times
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I'm looking into Deep Creek condos and am confused about whether some are high flood risk. When I look at Charlotte County Property Appraiser record for some, I'm seeing X, but then when I go to floodsmart.gov, I'm seeing in or near a high-risk area. Sometimes there's additional info on the county website, but I don't have the background to understand it.

Does anyone have any insight on this?

I know I'm being a bit vague--sorry. I'm avoiding naming condo complexes just because the information I'm seeing is contradictory; don't want to start any false rumors about a particular complex's possibly being in a high-risk flood zone if it isn't.

Also, does anyone know in the case of foreclosures if associations in that area are coming after new owners for back dues (and/or interest, fines, attorneys' fees, etc.)--the balance that's left after banks pay whatever portion the law requires them to?

And if anyone has any info on solvency of any of these associations, would love to have this info too. Thanks in advance for any help.

Oh, and a very happy new year to everyone !

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Old 01-02-2014, 04:19 AM
 
Location: Port Charlotte, FL
3,979 posts, read 10,547,697 times
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Some of the condos in Deep Creek are in the X flood zone and others are in the A if they are located near or back up to one of the lakes in Deep Creek.

When a property is in foreclosure and is sold, the bank usually pays for the back HOA dues or they ask the buyer to pay for it or a portion of it if the dollar amount exceeds a certain amount. As far as the bank coming after the owner for any type of monies, that is done on a case by case basis and a real estate attorney is recommended.

If you have questions about the solvency of an association, you can get a copy of the current financial statements from most of them if you are interested in purchasing in that particular community.

Without knowing which condo community you are talking about, it is harder to give exact answers.
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Old 01-02-2014, 08:26 AM
 
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Hi, I'm in a deep creek condo. I am not in a flood zone. As TamRE says, it may have to do with how close the condo is to a creek. In particular there are some along the 18th hole that are pretty close to the creek. I was here in some pretty big down poors in July. The creek in question never even came close to the top of the bank.
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Old 01-02-2014, 10:49 AM
 
517 posts, read 1,092,183 times
Reputation: 1468
Thank you both for the replies!

Yes, I remember the rain last summer was something else, even for the rainy season, so that's good news you didn't have flooding. I'll bet the grass was really green on the golf course! I'm not a golfer but I love the golf course and greenbelt views there. Very peaceful. (At least on the non-bobcat-sighting days!)

Edit: Oops, I posted before reading the latest posts on the bobcat thread. Didn't realize the bobcat wasn't doing too well. Hope he/she will be ok.
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