Selling Vacant Land that is in a Floodzone

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Selling Vacant Land that is in a Floodzone

Jake Miller
Franklin, MA · Member since 2015 · 4 posts · 0 votes

Has anybody had any experience selling vacant land in Mohave County that is in a flood zone?

I bought a 2.35 acre parcel for $2,500 and it is in a FEMA zone AE. I know that it will require insurance if a potential buyer is looking to build, and will also require to be built a few feet off the ground.

Has anyone tried selling land that is in a flood zone before?  I am a newbie and am basically wondering if my situation sounds bad..

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  • Chris SeveneyBusiness Member
    Moderator
    Investor · VA · Member since 2015 · 21k+ posts · 19k+ votes
    10y
    You will need to do more research on the property as some locations now will not even issue a building permit if the grade is not above the 100 year flood plain, which this being an AE then It is not.
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  • Jake Miller
    OP
    Franklin, MA · Member since 2015 · 4 posts · 0 votes
    10y

    I tried speaking with flood control representatives at the county but they couldn't give me any specifics.

    They did mentioned how, "if you were to build on it you would need insurance and to raise it off the ground about 2-3 feet".  Although I assume this was more of a hypothetical and that I would need more of an official judgement.

    Where would someone go to get more of an exact answer?

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  • Jim Adrian
    Architect · Papillion, NE · Member since 2015 · 1k+ posts · 840 votes
    10y

    FEMA has the floodplain maps on the website for free. Spend some time on this site as it has a lot of good info. You need to be 1 ft above the floodplain. A civil engineer can assist you.

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  • Jim Adrian
    Architect · Papillion, NE · Member since 2015 · 1k+ posts · 840 votes
    10y

    I have a project in Rio Rico AZ where the floodplain is 4ft. Im not sure where Mohave county is at in AZ.

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  • Chris SeveneyBusiness Member
    Moderator
    Investor · VA · Member since 2015 · 21k+ posts · 19k+ votes
    10y
    You may end up spending more in engineering costs etc. Than what it's worth. I would review what it could cost to develop versus what the land is worth. This may be one of those times where you are better off biting the bullet than continuing to throw more money at something that may dig you a deeper hole.
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  • Scott Mclaren
    Investor · Gilbert, AZ · Member since 2015 · 96 posts · 46 votes
    10y

    i would talk to the county building department and see what it would take to get a permit or if they would even issue one. Then i would talk to insurance agent about costs and feasibility. Good luck!

    Keep us posted

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  • Jake Miller
    OP
    Franklin, MA · Member since 2015 · 4 posts · 0 votes
    10y

    Great advice everybody. I really appreciate it. I just checked out the FEMA floodplain maps to see what designation other homes in the area are falling within.

    I think I'll wait and see what the county building department says before speaking with a civil engineer, but its is great to know there are options should I decide I want to build.

    I will continue posting in this thread as I get more info.

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  • Jake Miller
    OP
    Franklin, MA · Member since 2015 · 4 posts · 0 votes
    10y
    Originally posted by @Chris Seveney:

    You may end up spending more in engineering costs etc. Than what it's worth. I would review what it could cost to develop versus what the land is worth. This may be one of those times where you are better off biting the bullet than continuing to throw more money at something that may dig you a deeper hole.

     Chris,

    When you say "bite the bullet" do you mean like instead of trying to develop just selling the land for as much as I can get?  I wonder if these floodplain restrictions will relax over the years, or get worse...

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