Changes in TX Sellers Disclosure
DID YOU KNOW?
Did you know a state law goes into effect Sept. 1 requires sellers to disclose if a home is located in a 100-year floodplain, a 500-year floodplain, a flood pool, in or near a reservoir, and whether that home has flooded before.
The Y/N questions include:
Present flood insurance coverage
Previous flooding due to a failure or breach of a reservoir or a controlled or emergency release of water from a reservoir.
Previous water penetration to a structure on the Property due to a natural flood event.
Located ___ wholly ___ partly in a 100-year floodplain
Located ___ wholly ___ partly in a 500-year floodplain
Located ___ wholly ___ partly in a floodway
Located ___ wholly ___ partly in a flood pool
Located ___ wholly ___ partly in a reservoir
Another tidbit is that the flood zone maps have recently changed. You may want to contact your insurance agent to see if your home has been affected by the remapping.
As always, we are here to help you or someone you know that wants to buy or sell.