There are a lot of industry terms used in the real estate market that are not readily understood by potential buyers coming into the area. Terms such as "above flood" or "below flood" and "pre-firm" may be confusing for buyers. I'd like to share this video from Key West that does an excellent job illustrating those terms and more. It also let buyers know that there is a possibility to elevate an existing building to above flood, and what the advantages are to doing that.
August 20, 2014
Understanding Flood Insurance in the Florida Keys
There are a lot of industry terms used in the real estate market that are not readily understood by potential buyers coming into the area. Terms such as "above flood" or "below flood" and "pre-firm" may be confusing for buyers. I'd like to share this video from Key West that does an excellent job illustrating those terms and more. It also let buyers know that there is a possibility to elevate an existing building to above flood, and what the advantages are to doing that.
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1 comment:
Flood insurance really can vary depending on what area you live in. Just living at the top of a hill can really give you a much lower rate. I agree that it is something that home buyers need to consider when they are deciding on buying a home. Living above flood obviously sounds like it would be the best, as you have a pretty high chance of being safe from a flood. And if you live in the Florida Keys, you probably see them pretty often. http://www.inservsarasota.com/flood.aspx
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