MyFloodStatus Report Helps Local Buyer Identify Flood Risk

After a snowy February followed by heavy rain, many rivers are flooding across Minnesota. Some rivers are at or near record levels. Check out the dilemma one NorthstarMLS agent was in with his client before using a MyFloodStatus report to determine the property's true flood status. 

Situation
A buyer was interested in purchasing property adjacent to a property he already owned and lived in. The property seller had owned the home for a long time, no longer had a mortgage, and said her late husband had told her that only the back corner of the property was in a flood zone. She didn’t have any documentation to prove the exact current flood status of the property.

Action Taken
The buyer’s real estate agent used our structure-based flood report to confirm the true flood status of the property.

Resolution
A MyFloodStatus report confirmed that in fact a large portion of the house was in a Special Flood Hazard Area, or SFHA, and would require flood insurance with a mortgage. The FEMA map had changed and been updated in 2015, but the seller did not become aware because there was no mortgage on the home at the time. With the MyFloodStatus structure-based flood determination, the buyer was able to make an educated decision on how to move forward based on confirmed flood status.

“Running your report saved a lot of time, money and frustration. Best money I’ve spent.”
– Michael H. Real Estate Agent, NorthstarMLS

MyFloodStatus Flood Reports can be ordered through NorthstarMLS at discounted pricing ($25 per report). Go to the “External Links” section and click on MyFloodStatus.

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Flooding Will Happen…Incorrect Determinations Should Not! Already in July there have been 30+ Minnesota counties deemed to be in a state of flood emergency by the Governor. NorthstarMLS has partnered with MyFloodStatus, allowing you to order the most accurate flood reports in the industry, at a discounted rate. Join the experts at MyFloodStatus for a 30-minute webinar specially scheduled for NorthstarMLS subscribers. There are FOUR scheduled webinars for the week of July 30choose the date that work best for you. What’s Discussed? You’ll learn about Accurate Flood Zone Determinations and how they help Realtors eliminate risk of liability, reduce flood insurance premiums for homeowners, buyers and sellers, remove properties from High Risk Flood Zones, and more! After registering, you will receive a confirmation email containing information about joining the webinar. CLICK HERE TO SIGN UP!
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