The issue of Elevation Certificates is in the forefront now with the changes in the flood insurance rates. As a buyer it is necessary to have a flood elevation certificate to determine the amount of insurance premiums you will be paying unless the home was built prior to flood insurance or is in a flood zone that does not require it; your bank if you are financing the purchase will insist you have flood insurance if you are in a flood zone that requires it.
If a homeowner doesn’t have a flood elevation certificate is it their responsibility to provide and pay for one at the time of sale? Should the buyer pay for one since they are the ones who need it to determine what their premium will be? Should the buyer and seller share the cost of obtaining an elevation certificate since they are both working to get the house sold? Should the seller pay for the elevation certificate and if the sale closes the buyer pays the seller back ?
There is no right or wrong answer. Whatever a buyer and seller agree to is what should happen.
The cost is in the $300.00 range, BTW.
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