flood zone

[Julia Xie]

What does it exactly mean if part of the land is in the flood zone, but the building is not?

Thank you

Julia Xie

Keller Williams Realty

[John Mocker]

Julia,

I have seen this mulitple times, the intial report from the Mortgagee is that you will need to have Flood Insurance.  Once you can show that the Building is not in an A or V zone they will usually back off that requirement.  If the property is that close to an A or V zone you may want to find out the pricing on a flood policy.  WIth the new "private markets" and the building not being in an A or V zone the cost may not be too great.