Real Estate Brokers and Agents: Facts You Should Know
  • Real Estate Professionals are a key participant in the public - private partnership established by the Federal
    Emergency Management Agency (FEMA) for the National Flood Insurance Program (NFIP).

  • Currently, the only exposure the real estate industry has with the program is related to the appraisals provided on
    structure going on the market. Most appraisers have limited knowledge about floodplain mapping or the NFIP.

  • All properties to be listed should be evaluated for location relative to special flood hazard areas. Flood Insurance
    Rate Maps are available from the community and on FEMA's Map Service Center. Additionally, A.E.Knapp &
    Associates provides services to both buyers and sellers, informing them if all or part of a property and /or the
    insurable structure is located in the floodplain, prior to a sale or purchase. It is often better to deal with floodplain
    issues at the beggining of a listing rather than waiting for a Lender to initiate the flood insurance purchase
    requirement a few days before the closing.

  • Flood Insurance Rate Maps are not 100% accurate. There are properties and /or structures shown on the FIRM as
    being flood prone that are not and will qualify for an appeal and removal from the designated floodplain.

  • Flood Insurance is not inexpensive, costing homeowner hundreds to thousands of dollars annually. Accuracy of a
    structures actual flood risk can save wasted premiums.

  • For new structures, Post-Firm rates are affordable when constructed in compliance with local and NFIP
    development standards. When not compliant, premiums can cost thousands of dollars annually. Often, these
    issues can be avoided if proper development is considered during planning.

  • As Real Estate professionals, becoming familiar with the requirements of the NFIP and its effect on
    your clients can be benificial. A.E.Knapp & Associates provides many services with which to help
    agents provide the highest level of satifaction in real estate transactions involving structures in the
    floodplain, removing all doubt relative to FIRM accuracy, floodplain location, flood risk,compliance,
    and appeals qualification.

Contact us on our Contact page for more information.
Real Estate Professionals