The unpredictable and unprecedented events have certainly taught us all how quickly life can drastically change. We have been provided guidelines and tools from the most experienced medical and scientific professionals in order to remain safe and healthy. We heed their advice to the very best of our abilities in order to protect ourselves, our […]
Are you considering purchasing a property in a high risk flood zone with the intention of renovation/repair? Are you aware of the FEMA, state and local requirements in order for you to get your permits? If the cost of your renovation or repair project exceeds 50% of the assessed value of the building (not including […]
Buyer beware… I recently had a client looking to purchase a home in the Sand Hills area of Scituate. Most of this neighborhood is located in the high risk flood zone. When I asked for details on the existing flood policy I was told it was a transferable policy that cost approximately $5,000 annually. The […]
Are you aware that if your home has suffered significant damage from coastal flooding there is a time limit for you to act? There are restrictions in place, specific by-laws written by communities. Once a specified period of time has lapsed if you have taken no action to repair, replace or sell the property you […]
Did you know that if you are awarded a Federal grant to elevate and improve your property to protect it from flooding, you must pay for the improvements and wait for reimbursement? If you need to elevate your home, relocate utilities, or add other flood mitigation measures to reduce the risk of flood damage and lower your flood insurance premiums this […]
As we enter 2019, its time to review your annual flood insurance policy. Review the policy coverage with your current insurer and question the deductible amount. Then it’s time to get a second opinion! I recently listed a home in an AE flood zone. The homeowner was paying $3,600 for an annual policy with a $2,000 deductible. This premium was high compared to homes in the immediate area. The […]
My clients are buying an ocean front second home in Marshfield. The owner paid her mortgage off 7 years ago and canceled her FEMA policy. The property is currently in a VE zone. However, when the policy was canceled, all grandfathering was lost. When the buyers went to purchase flood insurance they were quoted $4,200 […]