Flood Zones

Buyers Need to Check the Flood Zone Status of a Home BEFORE Making an Offer

by Karen Goodman on March 23, 2008

With the flooding this week in Pacific, Eureka and Fenton, Missouri residents have had a big reminder that many homes throughout the St. Louis area are located in flood zones.

Keep in mind that flood zones aren’t just limited to the areas on the edges of the Mississippi, Missouri and Meramec Rivers.

The St. Louis region has a spider web of small creeks running throughout the land, and there are many areas designated as flood zones that are miles from the major rivers.

Check out these maps of the flood zones for:

Anyone considering purchasing a home needs to check to see if the home they are considering is located in a flood zone.

The standard contract used in the St. Louis area has a provision that allows a buyer to terminate a contract if they determine that the house is located in a 100 year flood zone AND it was not disclosed prior to the contract offer. Make sure you read the fine print before writing a contract. There is a field in the MLS that allows the agent to disclose that a home is in a flood zone, but the information is buried in a section of the MLS report that I think gets less attention from buyers than the pictures and marketing remarks. There is also a section on the seller’s disclosure that identifies if the home is in a flood zone. It is extremely important that a buyer read the seller’s disclosure thoroughly before making an offer. If buyers skim over the disclosure and miss that the flood zone box is checked ‘yes’, they could be forfeiting their right to terminate the contract when they later discover that the house is in a flood zone. (Lenders always check to see if homes are located in a flood zone that mandates flood insurance be paid on the property).

In addition, the contract does not allow for termination if the home is located in a 500 year flood zone. If you are one of the many buyers that would opt to pass on a house if you found out it is in a 500 year flood zone, then you need to have your agent check on it before writing a contract. Your agent can check the flood zone status through a mapping function in the MLS.

If you are thinking of buying a house on your own without having your own representation…this is one of those things you could discover too late. If you aren’t already working with an agent to represent your interests in your home purchase, contact me to discuss how I can protect your interests.

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Buyer Beware – St. Louis Flood Zones are in Some Surprising Places

by Karen Goodman on January 23, 2008

in Buyers

The next time you are looking for a home, make sure you check and make sure the house isn’t in a flood zone.

You might be surprised to discover that there are flood zones throughout the St. Louis area. Our region seems to be peppered with creeks which are often dry except during the spring rains. But, when we get tons of rain, they will not only fill up, but can spill over into the adjacent land…and nearby homes.

Take a look at the maps below of Ballwin and University City. These maps show just 2 of the areas that have plenty of homes in flood zones even though they are nowhere near the Missouri or Mississippi Rivers.

University City:

University City 100 year flood zone

Ballwin:

Ballwin 100 year flood zone

Is this a big deal?

We’ve had had two 100 year floods in the last 35 years. One in 1973 and again 20 years later in 1993. Maybe it will be another 100 years before the next flood, but there’s no guarantee.

So, if you opt to buy a house that is in a flood plain, plan on paying federal flood insurance. And, expect it to take a while when you get ready to sell since most buyers will walk away from a contract when they realize a house is in a flood zone.

An experienced real estate agent can check for you before you make an offer on a home to make sure it isn’t in a flood plain. This is just one of many things your buyer’s agent should be checking on for you as you search for your dream home. If you are ready to start looking for a home, contact me to discuss how I can assist you.

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