| If you live, or are considering moving to, areas where | | | | before they will finance the land, since the land has a |
| flooding may be a problem, then you may be in need | | | | substantial risk of flooding during the lifespan of a |
| of special land surveying or certification. Many areas of | | | | typical 30-year mortgage. |
| the country, including parts of Florida, Georgia, | | | | If your land lies in a 100-year or more frequent |
| Alabama, and South Carolina as well as many other | | | | floodplain, it is also known as lying in a Special Flood |
| states, are susceptible to flooding. | | | | Hazard Area, or SFHA for short. Instead of purchasing |
| Before you have flood certification land surveys done | | | | flood insurance, you can also apply for a Letter of |
| on your land, consult the known information on flood | | | | Map Amendment (a LOMA) or a Letter of Map |
| plains in your area. This may be listed in your property | | | | Revision (a LOMR) to show that your land or building is |
| profile, and if so, it can be obtained through the real | | | | not actually in the flood plain. Only the LOMA or LOMR |
| estate agent. There are also FEMA flood maps which | | | | can remove the requirement for flood insurance. You |
| can be found on their website. In most cases, | | | | may also need an Elevation Certificate, which applies |
| floodplains, which are expected to flood periodically, | | | | to buildings constructed on elevated structures so that |
| are described by the expected frequency, such as an | | | | the buildings themselves are higher than the flood level. |
| annual floodplain or a 100-year floodplain. Even if your | | | | All of these require a land survey to give you as |
| land is not in a designated flood plain, the plot of land | | | | accurate of a picture of the land as possible. They are |
| still has a designated flood zone. This does not mean | | | | particularly useful if you have changed the elevation of |
| that the land is likely to flood. It is simply an area | | | | the land significantly through grading or other activities, |
| defined by a level of flood risk; even areas of low or | | | | or have built up the land underneath a building so that |
| almost nonexistent risk lie within a certain flood zone. | | | | the building no longer lies in the flood plain despite the |
| Whether your land is located in a flood plain is | | | | fact that the area around it still does. |
| important not only because of the possibility of flooding, | | | | Never rely on anyones word that the land will be |
| but also because mortgage companies may require | | | | suitable for your purposes or that it wont flood. A land |
| you to secure flood insurance before they will finance | | | | survey can tell you the concrete details of the land |
| your purchase. The FEMA site tells you whether flood | | | | you are interested in. Even if the property is located |
| insurance will be required if you plan to finance land | | | | well inland, always investigate the possibility of flooding. |
| that lies within the flood plain outlined on their maps. | | | | Besides the fact that floods are rather inconvenient, it |
| The FEMA flood plain maps are known as Flood | | | | can also be expensive, both to repair flood damage |
| Insurance Rate Maps, or FIRM. Mortgage companies | | | | and to pay for flood insurance so that you can finance |
| who you may contact to finance your real estate | | | | the property. If your land does lie within these areas, |
| purchase are required by law to determine whether | | | | you can either have a land survey done and apply for |
| the plot of land lies in any floodplain that is expected to | | | | a LOMA or LOMR to revise the flood maps, or |
| flood at least once per century. When the land in | | | | purchase flood insurance through the National Flood |
| question does lie in such a flood plain, the mortgage | | | | Insurance Program. |
| company may require that you obtain flood insurance | | | | |