real estate question: Coastal Tidelands and Wetlands Act addendum (Charleston: oceanfront, insurance)

[stormyjane]

I have been researching Charleston real estate for months. We are not prepared to buy but I study feverishly, none the less!

Anyway, I came across a home in Berkeley county that had a a Coastal Tidelands and Wetlands Act addendum. Being unfamiliar with homeownership and coastal living, I wonder if this is common or if this is a big red flag. The addendum didn't state the specifics just that the home was "seaward of the setback line and within the velocity zone".

I wondered if anyone had any insight/guidance when looking at this type of property issue?

Thanks, once again, for all of the generous support!

[wetland]

Since the porperty is already developed, you do not have to worry about being stuck with an unbuildable parcel. However, know that living in proximity to a wetland or waterway does have its concerns. I personally would want to know if the property has been subject to any flooding events.

[OurGreatEscape]

If I'm not mistaken the "velocity zone" is FEMA's "V Zone".

New homes built out on Seabrook Island located in the v zone must have extra-duty foundations (read $$$) plus expensive insurance. Older homes in the v zone require expensive insurance as well.

[stormyjane]

Thank you, Thank you. Good insights.

[CharlestonHelp]

Stormy,

I'm no attorney; I’m a real estate agent. It's my understanding that this paragraph in any SC real estate contract (and more than likely the addendum) deals directly with properties that are oceanfront, or affected directly with the ocean and the setback lines (erosion). This does NOT apply to marshes, creeks, inlets, or rivers (the OCRM simply does not have the time or the resources to regulate all of the areas with creeks, marshes, etc.). You are correct when you have stated above that it applies to those homes "seaward of the setback lines and within the velocity zone". Areas along the coast have setback lines. The setback lines can be seaward of your house (like most properties on Isle of Palms), or the setback lines can even be on the other side of your house and property (street-side like in some instances on Wild Dunes). It deals mainly with erosion. It regulates whether you will be able to build in proximity to these setback lines. For example a swimming pool in the back of a beachfront home, or even if your beachfront home gets torn down by a hurricane and whether or not you would be able to build in the same spot on the lot again.

An interesting fact is that most people (and real estate agents too) don't realize that Folly Beach is excluded from this provision. The reason being is that Folly Beach has man-made jetties that wreak havoc regarding erosion of properties. That’s why you see rocks and oceanfront walls built seaward of oceanfront homes on Folly, but you would NEVER see this on Isle of Palms or Wild Dunes, etc. Erosion is natural, but on Folly Beach it is not due to the man-made jetties which caused increased erosion.

I hope this gives you some insight. If you have any more questions about it, I’ll try and help.