"mazda616" (mazda616)
02/19/2015 at 20:45 • Filed to: None
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"mazda616" (mazda616)
02/19/2015 at 20:45 • Filed to: None | 0
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The house we are in negotiations to buy and already have a loan in process for is in a damn flood zone. And the sellers didn't disclose that. It's like an extra $100 a month for flood insurance which is required to have the loan. That's an extra $36,000.00 over the life of the loan (30 years). Back to square one.
I just hope we back get the money we paid for a home inspection.
:-(
HFV has no HFV. But somehow has 2 motorcycles
> mazda616
02/19/2015 at 20:49 |
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bummer :( Last time I started looking at buying a house I lost my job. So hey it could be worse :)
TheBloody, Oppositelock lives on in our shitposts.
> mazda616
02/19/2015 at 20:54 |
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Not to be a party pooper, but that inspection money is good as gone. Just be thankful you didn't find out after the paperwork was signed.
ttyymmnn
> mazda616
02/19/2015 at 20:54 |
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Send the seller a bill for the inspection. Don't worry. You'll find something, and it may well be better. The last thing you want is buyer's remorse on a 30-year note.
Boxer_4
> mazda616
02/19/2015 at 20:54 |
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As much as it hurts, it's better to find out now, rather than later.
This is at the bottom of my housing development. It gets like this every heavy rain storm. It's so bad, that the township actually bought some of the worst houses and bulldozed them. These houses are considered "ok". Fortunately, I live near the top of the hill in the development.
Rico
> mazda616
02/19/2015 at 21:01 |
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You might have saved yourself a massive headache and mistake as other's have pointed out. I'm a true believer in if it's meant to be it will happen you'll find something better!
Sn210
> mazda616
02/19/2015 at 21:02 |
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that sucks! Flood zones are kind of a big deal. When I bought my house, no one told me there were HoA fees and communal property taxes. Luckily it's only twice a year, but it certainly would have affected my offer. Good luck with the hunt, sorry this one wasn't the one
shop-teacher
> mazda616
02/19/2015 at 21:38 |
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I was kicking myself about a couole houses that didn't work out. Ended up with a bigger better house, for less money. You'll find something!
ADabOfOppo; Gone Plaid (Instructables Can Be Confusable)
> mazda616
02/19/2015 at 21:43 |
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I'm fairly certain it is required disclosure for flood zones when selling a house.
If not, that's totally bogus.
Brokercolton
> mazda616
02/20/2015 at 00:54 |
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Florida Real Estate Broker here, the seller's disclosure should state if the property is in a flood zone or not. If the seller did not disclose that the property is in a flood zone, you can attempt to get the seller to pay for the inspection. If the seller is not willing to pay for the inspection you're pretty much out of luck unless you feel inclined to sue.
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mazda616
> Brokercolton
02/20/2015 at 07:51 |
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On the disclosures, they checked the "no" box next to the form question "Is the property in a flood zone?"
So, they either lied or they're stupid and didn't know.