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Belford : Real Estate Advice

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  • Local Info0
  • Home Buying3
  • Home Selling0
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Activity 3
Mon Mar 2, 2015
Diane Christner answered:
Zone x is not a flood zone, AE is a flood zone where elevation is known. If you purchase a home located in a flood zone with a mortgage the lender will require you to carry flood insurance. Even if you are not required to carry flood insurance by paying cash, if you have any sort of water damage to your home it will not be covered under your regular home/hazard insurance.

There have been major changes to the national flood insurance program over the past 2 years and flood insurance premiums are going up, in some cases substantially.

The BFE (base flood elevation) in your area and the elevation of the home in question is very important to know.

Contact a local insurance agent that does flood insurance to see what rates you will incur if you purchase the property. You can also access flood insurance information at

Anyone looking to purchase property located within a designated flood zone should read up on the flood insurance program and policy costs BEFORE you sign a contract to purchase, not after.
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Wed Oct 16, 2013
Mickey - R.E. Investor answered:
The area had lots of flooding during Superstorm Sandy. Houses were torn down and the lots are for sale very cheap. If you do decide to buy, ask your real estate agent AND your attorney to check the new FEMA flood maps and availability of flood insurance.

If you are interested in a specific house and the owner says there wasn't any damage from Sandy, ask them to get a letter from their insurance company that shows how far back the policy covered the house and whether or not there were any claims during Hurricane Sandy or Irene.
Good luck!
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Fri Apr 29, 2011
Susan McLaughlin answered:
Ah, you just missed it by a week! The owner does not live there, but just rented it as of April 19th for May 1st. Absentee owners are a good possibility for selling, much more so than approaching someone who lives in their home and telling them you want to buy it. Please contact me at 732-768-1068 and we can discuss this with the owners, we may be able to work this out for the end of the lease term. There's lots to talk about, like pricing, seller wishes, financing. If the seller's interested, we can work it out! ... more
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