Increased Flood Risk Transparency for Homebuyers
New rules aim to better inform homebuyers about flood risks. Before purchasing a government-owned property, you will receive information on estimated flood insurance costs and whether the home has been repeatedly flooded. This helps you make an informed decision and avoid unexpected expenses.
Key points
Mandatory disclosure of estimated flood insurance costs for government-owned homes in flood hazard areas.
Information on whether the property is a "severe repetitive loss property" (repeatedly flooded).
Annual reports to Congress on sold government properties that have experienced flood claims.
Expired
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