Base flood elevation concern
I’ve made an offer on a home in AE flood zone that has a finished lower level. Is there a rule of thumb when offering on homes that are below the “top of the bottom floor” level.
Is this a major red flag? Any advice is appreciated!
There are many instant flood quote sites available now! Just quote it and fill the questions out honestly and you should find out quick how much of an issue it is!
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Real Estate Agent Florida (#3448167)
- 786-733-1993
- https://themortgagecalculator.com
- [email protected]
Factor in possibly future volatility of flood rates.
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It's a red flag. You're here asking about it because you're concerned.
When the time comes for you to sell it, you can expect those buyers to have the same concerns. That means your property will be less marketable.
Whether it's a deal-breaker is up to you and up to your eventual buyers. I can tell you that if I was looking at two similar properties with one in Zone X and the other in Zone AE, I'd take Zone X every time.
When the time comes for you to sell it, you can expect those buyers to have the same concerns. That means your property will be less marketable.
Whether it's a deal-breaker is up to you and up to your eventual buyers. I can tell you that if I was looking at two similar properties with one in Zone X and the other in Zone AE, I'd take Zone X every time.
