Your concerns are justified, FEMA does change it's map but the Seller's have no way to guarentee that the change will benefit the property. FEMA maps are doen by sattelite imagery so there are times where properties on the outer edge really aren't within the floodplain. Having a surveyor do an elevation survey may prive there house isn't actually within the designated flood plain and then paperwork can be filed with FEMA to have the proeprty exempted from the required flood insurance. You can still insure it (and probably should to be safe) but the rate will drop significantly.
The sellers are offering a reasonable solution, "they will pre-pay two years of your insurance" however ultimately you have to decide if you're comfortable taking the chance of being saddled with flood insurance forever. You did not ask about getting out of your contract, but if you do decide to terminate you should consider what financial/legal ramifications (if any) there may be.... more
We use a number of online materials and printed materials, class is 3 hours and will be held in my office on a Saturday. Class size is limited, call or text 712-291-0118, email or stop by our office at 607 Lake Ave, Storm Lake, IA 50588... more
Storm Lake IA and the surrounding areas are experiencing a large shortage of rental property. It is estimated that an additional 200-250 units are needed just for Storm Lake as of November 2011. This shortage increases if you add the surrounding areas of Alta, Aurelia, Newell, Early and Schaller. The cost to rent a property (apartment or home) is high due to supply and demand.
Weaver Realtors has a list of local landlord contacts on our website at http://www.WeaverRealtors.com and we are working with a number of local real estate investors who will have properties available later this spring - March and April. These rental properties are located in Storm Lake (efficiency, 1 bedroom and 2 bedroom apartments) and apartments (1 and 2 bedrooms) in Newell Iowa. We are taking applications on these beginning in February. You can print an application (one for each adult in the household), or stop by the office to pick them up, if you are interested in these rentals. Call us at 712-213-4663 in February to get more details including rent, deposit, lease term, - all these properties are no pets and no tobacco use.... more