Home Buying in Tampa>Question Details

Alan, Home Buyer in New York, NY

cost of flood insurance

Asked by Alan, New York, NY Sun Aug 26, 2012

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It depends which company you go through and where your home is located. It's all very subjective!
Web Reference: http://www.acinsurance.ca
0 votes Thank Flag Link Tue Oct 29, 2013
It's a good idea to have a clause in the contract that gives you a contingency to check the homeowner and flood insurance cost as a requirement to your purchase transaction. The Florida Association of REALTORS provides a form for all agents to use which can be added to any contract to help the buyer be sure they are not getting over their heads in insurance cost on a property.

“The most important thing a buyer can do is first of all work with a buyer broker.” As stated by AARP and the Consumer Federation of America from REALTOR® News.

There is no extra/hidden or additional cost for you to obtain my “exclusive” buyer broker services in your real estate transaction. In the State of Florida only a buyer broker who represents the buyer can negotiate for the lowest price and best terms for the buyer. When you work with an Exclusive buyer broker, the brokerage firm does not list any homes, there is never a conflict of interest in your transaction. The State of Florida assumes that all buyers know all agents are transactions brokers who do not represent anyone one in the transaction and that the agents have very limited if any liability in the transaction. Unless, an agent or broker tells you they will represent you exclusively the agent is not required to disclose to you that they are a transaction agent or broker.

On my informative homepage http://www.FloridaBuyerBuyer.com you will learn about:

The #1 Mistake Real Estate Buyers Make – explains buyers relationship to agents/brokers in FL
21 Critical Mistakes Buyers Make
20 Things the Listing Agent Does Not Tell You about Short Sales
Short Sale Fraud
Foreclosures - the Wild West of Real Estate
Unrealistic Buyer Expectations
Buyer Beware
Chinese Drywall

There is no obligation required of you to access this important free educational information on my homepage. The site is informative but does not give the buyers the benefit of my 30 years experience working in the Southwest Florida real estate market unless they call me to schedule time for me to work with them.

I am the broker who will actually assist you in finding the best property in your price range and have extensive experience working in 2 counties to help you.

On my general “Search Property” link you will be able to search property anywhere in Florida. Please see “Search thru MLS Data” on my homepage to for instructions on how this search link works.
Trulia is not connected to the REALTOR MLS in Southwest Florida. On the “Search thru MLS Data” on my homepage you will find instructions on how to access the different searching options including local REALTOR® MLS data to “search like an agent.” Once you set up a profile on these links, you can save your search and you will automatically be notified when new listings or price changes become available which meet your criteria. It is important that you give yourself at least 15 minutes to sign in and complete an entire search prior to leaving the system in order to set up the program properly. Your search will then be saved and you will be able to change your criteria anytime in the future. I recommend scrolling down the criteria choices and putting a “don’t want” in the short sale box. You want to get a good idea of what is available, don’t base your decision to buy on a short sale.

I assure you it does not cost you more to obtain my specialized buyer broker services. In the State of Florida only a buyer broker can legally negotiate for a lower price for the buyer and must take care of the buyers’ best interest through out the transaction. A buyer broker is required to give the buyer loyalty, confidentiality, care and diligence, accounting, disclosure of all known pertinent facts and your financial status is protected.

This is my 30th year selling real estate in the Southwest Florida. I have been working as an “exclusive” buyer broker since 1993 and licensed to sell real estate in Florida since 1981. Please feel free to call me anytime on my toll free number 1-800-283-7393.

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0 votes Thank Flag Link Thu Aug 30, 2012
Alan, the cost of flood insurance would be determined by the elevation and flood zone of the property. You would have to have a specific property in mind to determine the flood zone. For example, Flood zone "A" has many many different levels each with a different cost for flood insurance.

When applying for financing, all Florida properties are run through a flood zone certificate program to determine if the parcel is located in a flood zone. Flood zones are determined by FEMA. Most condo complexes near the water are required to have flood and windstorm insurance.

Although you might have flood insurance, it may not cover the specific water damage. Best to read a policy to completing know what your coverage protects you against.

Best regards,

Lynn Brock
Brock Realty Inc

If you'd like to search the MLS like an agent in real time, you can visit our website and sign up for a free Listing Book account. You will be able to change the search criteria to suit yourself and received morning reports regarding new listings, price changes and recent pendings.
0 votes Thank Flag Link Mon Aug 27, 2012
Hi Alan,

You can go here to find flood info by inputting the property address or just the street:


FEMA maps can be incorrect so if you are buying a property and it is in a defined flood zone then you may want to pay the Extra fee for an Elevation Certificate when you do your survey. Flood insurance can be very costly --I've seen $1200 per year, or mimimal $200... depending on the elevation and risk.

Hope this helps.

All the best,
Alma Rose Kee, PA
Future Home Realty
0 votes Thank Flag Link Sun Aug 26, 2012
Depends on the flood zone & elevation of the property. Contact an insurance agent for specifics.
0 votes Thank Flag Link Sun Aug 26, 2012
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