Information for Realtors

How New Flood Hazard Maps Affect Real Estate Agents

As a real estate agent, you'll want to disclose any changes in flood risk levels to your clients, and tell them about flood insurance requirements and options. Not to do so puts you at risk. Buyers whose property will be mapped into an area of high risk can save on flood insurance before new maps are adopted through a "grandfathering" provision. More information on grandfathering is available on the Insurance Information page.

As a Listing Agent, Check the Risk Level

The lister should disclose if the property is now or will be in a high-risk area (Special Flood Hazard Area). Ask if the owner has a flood insurance policy to transfer to the purchaser. This maintains the benefit of a "Grandfathered" policy.

Tell Buyers about Flood Insurance Requirements

To avoid liability, you need to make buyers aware of any upcoming changes in flood risk status. You should also disclose any flood insurance requirements. When the new maps are adopted, flood insurance requirements will change. However, many property owners can save if they purchase their insurance prior to map adoption - a process known as "grandfathering" or assume the current owner's flood insurance policy. More information is available on the Insurance Information page.