My Name is Hector De La Cruz and I'm license in New York and New Jersey so finding you a home will not be an issue. As to you question please take the time to read this article and if you have any inquires please don't hesitate to call.
Hector De La Cruz
Realtor Associate NY and NJ
Nest Seekers INTERNATIONAL
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Many if not most buildings cover the flood insurance in their maintenance fees.
Some streets such as Bloomfield Street east are not in flood zone and do not require flood insurance.
Many of the rules about flood insurance have changed since Hurricane Sandy.
I live and work in Hoboken and can give you some insight into this issue.
Feel free to call or write with any additional questions.
David J. Bistany
Luxury Home Specialist
Everything He Touches Turns to SOLD
Liberty Realty, LLC
1 Marine View Plaza Suite 101
Hoboken, NJ 07030
Luxury Home Specialist
Hoboken Jersey City Realtor
Office: 201.610.1010 x341
A majority of the town is in a flood zone. Typically your mortgage company is going to require a specific amount of flood insurance for each home in the building. This insurance should be covered by your condo association. You just want to make sure what the insurance is covering and how the home you are interested in is classified. Flood insurance usually doesn't cover basements so if the home is below grade you have to make sure it's not classified as a basement as per FEMA. You also want to see what build-out the insurance will pay for if there is a flood.
There are rare cases where the buildings flood insurance won't be enough for the mortgage company. In many of those cases the association will increase the coverage appropriately since it is in everyone's interest for resale. However, if you are going through a lender that requires insurance above the customary flood insurance amount you may have to buy a supplemental policy for the difference.
I hope this helps. Please do not hesitate to contact me with any additional questions.
Andres Garcia - Sales Associate - Keller Williams - Office: 201.659.8600
Mbl: 201.677.2211 - E-Mail: Andres@MileSquareRealty.com - Web: MileSquareRealty.com
Any additional questions please let me know,
Amy Frank Goldman
Hudson Place Realty