U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > General Forums > Real Estate
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 06-21-2018, 05:10 PM
 
Location: Brentwood, Tennessee
39,066 posts, read 37,716,477 times
Reputation: 73719

Advertisements

Quote:
Originally Posted by FalconheadWest View Post
Realtors are not insurance agents. Realtors are not going to answer questions like that with definitive answers outside their expertise. Your due diligence is to contact an insurance company and have them quote you.
Absolutely.

A flood plain designation doesn't have to be a terrible deal-killer, but if you are looking at a purchase from mostly a financial perspective then yes, it's not something for the "positive" column. And sometimes certain mortgage companies could require flood insurance even if it's not considered "mandatory."

Did you have an inspection contingency on your offer? You may have been able to use that to get your earnest money back. That's a very small earnest amount, so at least this wasn't an expensive lesson.

Now you know to take a hard look at surrounding "environmental" issues like this one, and while you're at it be sure to ask about any utility or drainage easements as well.
Reply With Quote Quick reply to this message

 
Old 06-21-2018, 05:12 PM
 
98 posts, read 40,376 times
Reputation: 248
If you do want to buy in a flood plain, as we did, or in an area that could be a future flood plain, look for certified elevated houses. Our flood insurance is $330/year compared with $2600/year at the house we looked at just before we bought - the only real difference was the latter had an unfinished basement and ours has no basement and very good elevation.
Reply With Quote Quick reply to this message
 
Old 06-21-2018, 06:21 PM
 
Location: Northern panhandle WV
2,256 posts, read 1,748,867 times
Reputation: 4563
Quote:
Originally Posted by Joe90 View Post
I pulled an offer after finding the house had no roof -the vendor had borrowed his brother's roof, to make the house more desirable.
How exactly did he borrow his brothers roof?
Reply With Quote Quick reply to this message
 
Old 06-21-2018, 08:47 PM
 
Location: Rochester, WA
3,832 posts, read 2,056,232 times
Reputation: 10577
Quote:
Originally Posted by arwenmark View Post
How exactly did he borrow his brothers roof?

Very good question!
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:


Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Real Estate
Follow City-Data.com founder on our Forum or

All times are GMT -6.

2005-2018, Advameg, Inc.

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35 - Top