ALBERT SLAP: FloridA homebuyers need good information about flood risk
Under
Typically, a buyer in
[READ MORE: Barry's flood threat lingers as storm slowly sweeps inland]
These are important, but, as the form itself states, the seller may declare that he or she does not have any information on some or all of these risks and, the disclosure "is not a guaranty or warranty of any kind."
According to a recent study by the
The
In
However, many property owners believe that banks or insurance brokers will tell them what
Of the more than 200,000
It is very important for homebuyers to understand this fact:
First, they do not include the
Answer: yes.
Before Hurricane Michael struck
In the case of king tides and tidal flood risks, these also are not covered by
Are prospective homebuyers being told about this type of flooding? Generally, no. No one in
Answer: no.
According to a recent article in Bloomberg news: "For centuries, a body of law called the public trust doctrine has stipulated that, when it comes to coastal property, anything below the average high-tide line is owned by the government for the use and benefit of the public. Those rules also cover what happens when the high-tide line moves...Around the country, the combination of rising seas and political stalemate will eventually force courts to intervene."
How will those court fights unfold?
"We're going to find out!" said
So, from hurricane storm surges, to tidal flooding, to title ownership issues, prospective homebuyers in
Slap, of
___
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