A flood brings costly damage to a property’s structure. It affects every aspect including the floors, walls, wiring, foundations, plumbing, and more. Not to mention appliances, equipment, and tools that are permanently damaged. Finding out if a property is susceptible to flood can save you money and the inconvenience of a ruined property.
There are several places to start your research. You can look at the news, CLUE reports neighborhood news, YouTube, and sellers’ disclosure, as well as speak to neighbors, insurance agents, and people in the HOA.
Carefully Read the Real Estate Documents
Carefully and thoroughly read all the real estate documents, paying particularly close attention to the paperwork about the property’s condition. You should also read disclosures from previous owners and inspection reports.
DIY Property Inspection
You should do a property inspection, completely examining all facets of the property including:
- Looking for cracks in the foundation
- Walking around the perimeter of the property, looking for cracks in the concrete or brick
- Looking for water damage in the basement such as mold and cracks
- Looking for buckled, warped, or cracked floors
- Searching for the smell of mold
You should also speak with your neighbors. Ask them about incidents of any broken water main or other events that caused flooding.
FEMA
You can contact FEMA (Federal Emergency Management Agency) and NFIP (National Flood Insurance Program) to get flood loss information.
Find Out If the Property is in a Flood Zone
Regardless of if you know about it or not, it’s a good idea to find out if your property is in or near a flood zone. First and foremost, if a property is in a confirmed flood plain, it will severely affect the cost of owning the property. You might also be required to purchase flood insurance if you get funding from a financial institution.
To find out if your property is in a flood zone, check the address on FEMA.gov. You will get a flood map of the area.
Get a CLUE Report
CLUE stands for Comprehensive Loss Underwriting Exchange. It’s a database of information given to people who can use it to find out the seven-year loss history of a property. The report includes:
- Date of loss and loss type
- Insurance claim number and amount paid out on the claim
- Name and address of property owner
If there isn’t any loss on a property, the CLUE report will be blank. You can get a CLUE property report from LexisNexis for a fee.
Best Water Damage Restoration in Charlotte, NC
The best way to know if a property has been water-damaged due to flooding in the past is to get a water-damage inspection. For over 20 years, we have been the one to go to for resolving problems due to water damage for Greenville, NC residents. Contact us if you want your property meticulously inspected by our water damage restoration professionals.
