Don’t let FEMA regulations wash away the sale of your home

October 1, 2013 marks the date that new FEMA Regulations require elevation certificates on all properties located in “High Risk” flood zones in order to obtain flood insurance.

Can this add complications to an already complex real estate transaction? And, is it necessary if you’re financing your new home purchase?

What you need to know about the new FEMA Regulations

FEMA Regulations

What is an “Elevation Certificate” – it’s an important tool that documents your building’s elevation compared to the base flood elevation (BFE) in your community. The BFE determines how high the water is likely to rise in a base flood. The land area of the base flood is called the Special Flood Hazard Area, flood plain, or high-risk zone.

How to obtain a Certificate – Many municipal governments keep elevation information on file. Talk to your community officials (floodplain managerabout the information they may have for your building. If there is no elevation information of file, you may need to hire a state licensed surveyor or engineer to complete a certificate for you. Depending on your location & the complexity of the job, a surveyor can cost you anywhere between $500-$2000 or more. I recommend you shop around for the best price and service.

Will Flood insurance be expensive?– Generally in “High Risk” zones the higher above the BFE a building is, the lower the insurance premium. The elevation certificate provides the documentation necessary to make that determination. In “Moderate/Low Risk” zones rates on not based on an elevation certificate so your rates may be lower and you may not be required to submit a certificate.

Links to Lewis County preliminary Fema flood maps: http://ims.lewiscountywa.gov/webmaps/fema/viewer.htm


Janet Simons | Real Estate Broker | Chehalis Valley RealtyI am Passionate about Real Estate and eager to answer any and all of your most vital real estate questions! Text or Call me at 360-880-2356 or email me directly to ask about Buying, Selling or Investing in todays Real Estate Market.
Janet Simons | Real Estate Broker | Chehalis Valley Realty



Janet 
SimonsI am passionate about Real Estate and eager to answer all of your real estate questions! Text or Call me at 360-880-2356 or email me directly to ask about Buying, Selling or Investing in today's Real Estate Market - serving Lewis County & Thurston County, WA.

Janet Simons | Certified Residential Specialist | Real Estate Broker
Mountain Valley Real Estate