In this month’s Window to the Law video (click here), NAR Legal Affairs tackles difficult member questions about flood insurance and disclosures. Calhoun v. I-20 Team Real Estate, LLC, is the latest example of lawsuits after major floods. In short, all members are being encouraged to counsel buyers about the need and availability of flood insurance, including in areas not designated high risk by FEMA. Members are also reminded that flooding is a material fact to a real estate transaction, and failure to disclose flood damage can result in liability. Please take a few minutes to watch this helpful video and share with others. @Deanne Rymarowicz.
Want to Learn more ….Attend the VPAR Membership Breakfast next Tuesday, Oct 15th and join me and a panel of regional flood experts to take a deep dive into flooding issues in Hampton Roads.
Senior Policy Representative | Advocacy
NATIONAL ASSOCIATION OF REALTORS® | Washington DC