~ You are a key participant in the public - private partnership established by the Federal Emergency Management Agency (FEMA) for the National Flood Insurance Program (NFIP).

~ All properties to be listed should be evaluated for location relative to the federally delineated special flood hazard area. Flood Insurance Rate Maps (FIRMs) are available at municipal clerk and/or code enforcement offices. They are also available from FEMA, see our link to FEMA's web site.

~ Both seller and potential buyers need to be informed when all or part of a property and/or the insurable structures fall within the delineated floodplain since flood insurance is a federally mandated requirement of most mortgages. Also, new development and substantial improvements are regulated by municipal floodplain management regulations within all federally designated floodplain areas. It is often better to deal with a floodplain issues at the beginning of a listing rather than waiting for a lender to initiate the flood insurance purchase requirement a few days prior to the closing.

~ Flood Insurance is not inexpensive costing owners of pre FIRM structures hundreds of dollars per year give the current 90% federal subsidy. As FEMA reduces or eliminates this subsidy over the nest several years, premiums may increase dramatically.

~ For new structures, post FIRM rates are affordable when constructed in compliance with local floodplain development standards meeting NFIP standards. When not compliant, premiums can cost thousands of dollars per year. Often, the flood insurance purchase requirement may be avoided if proper project development standards are considered during planning.

~ Become familiar with the requirements of the NFIP and municipal Flood Damage Prevention regulations.

~ Flood Insurance Studies and maps are not 100% accurate. There are properties and/or structures shown on the FIRM as being flood prone that are not and will qualify for appeal and removal from the designated floodplain.

~ Unstudied A zones are the most inaccurate since they have not benefitted form a FEMA Flood Insurance Study. Site specific hydraulic analysis are affordable and often greatly refine the delineated floodplain and provide flood elevations necessary for a successful appeal.

~ Most appraisers know little about floodplain mapping or the NFIP.

~ A Flood Hazard Appraisal by Knapp Associates removes all doubt relative to FIRM accuracy, floodplain location, flood exposure, post FIRM construction compliance, and appeals qualification.