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Updated over 5 years ago on . Most recent reply
Flipping a house in FEMA flood zone?
Who's got experience flipping a house in a FEMA flood zone with known history of flooding?
Did it cause issues when reselling them home? Lowered sales price? Increased DOM?
Did you put it in the realtor remarks section or when did you disclose?
Did you do "extra" things during the flip to address it?
Note: I'm not looking to be convinced to not do it, I'm interested in hearing from those who have fixed and flipped.
Thank you!
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#2 Land & New Construction Contributor
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- Charlottesville, VA
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#2 Land & New Construction Contributor
- Developer
- Charlottesville, VA
Originally posted by @Thuy Pham-Satrappe:
@Greg Dickerson we got it for a great price because it has a history of flooding.
Have you sold one with a history of flooding before?
Yes I have but after the house was raised up out of the flood zone.
You definitely need to get insurance quotes for Flood as that make a huge difference for your and buyer in their monthly payment.