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Flood map differences

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paulina

Thread Starter
Freshman Member
Joined
Jan 22, 2007
Professional Status
Licensed Appraiser
State
Maryland
I did an appraisal that showed the subject property to be in a flood zone. The loan officer came back to me and said the lender did a flood certification and it showed it not to be in a flood zone and he wanted me to change my report. I told him that I would not change what my flood map program says, but I would include his information in the narrative. I said it was up to him to require flood insurance. Did I do the right thing?
 

Don Clark

Elite Member
Joined
Jan 17, 2002
Professional Status
Certified Residential Appraiser
State
Virginia
I did an appraisal that showed the subject property to be in a flood zone. The loan officer came back to me and said the lender did a flood certification and it showed it not to be in a flood zone and he wanted me to change my report. I told him that I would not change what my flood map program says, but I would include his information in the narrative. I said it was up to him to require flood insurance. Did I do the right thing?

Absolutely. Flood certifications are often wrong. Stick by your decision.
 

CANative

Elite Member
Joined
Jun 18, 2003
Professional Status
Retired Appraiser
State
California
I don't think flood maps are accurate enough to pinpoint exact spots in any given location, particularly on a close call. The geomap overlay of the streets and their position in the flood areas is not always precise and street addresses are a very poor method of pinpointing a property.

There is also some confusion (on my part) whether the FannieStandard is whether or not any portion of the lot is in the Special FEMA zone or does it relate only to the improvements.

I just give them my best "guess" and let them figure out how to proceed. This is a problem for experts, not appraisers.
 

Cliff Salisbury

Senior Member
Joined
Jan 16, 2002
Professional Status
Retired Appraiser
State
Ohio
I have always marked yes if any part of the site is in a flood zone. Let them decide if the improvements fall within the zone.
 

stefan olafson

Senior Member
Joined
Apr 2, 2003
Professional Status
Certified General Appraiser
State
North Dakota

The Dog

Senior Member
Joined
Apr 18, 2005
Professional Status
Certified General Appraiser
State
Oregon
I did an appraisal that showed the subject property to be in a flood zone. The loan officer came back to me and said the lender did a flood certification and it showed it not to be in a flood zone and he wanted me to change my report. I told him that I would not change what my flood map program says, but I would include his information in the narrative. I said it was up to him to require flood insurance. Did I do the right thing?

YES you did
 

Jim Onderisin

Senior Member
Joined
Sep 15, 2003
Professional Status
Certified Residential Appraiser
State
Illinois
The property is in a flood zone if any part of the site is located within the zone.
 

JRS at OBX

Elite Member
Joined
Jun 13, 2006
Professional Status
Certified Residential Appraiser
State
North Carolina
Flood hazard difficult to ascertain, suggest survey.
 

Restrain

Elite Member
Joined
Jan 22, 2002
Professional Status
Certified General Appraiser
State
Florida
We never make a flood determination. We comment that the flood maps show ..... then make a declaration that this is for information purposes only and no flood determination is made.

Honestly, you can go either way and be all right. Based on your review, it was your opinion that the property was in a flood zone. Based on a bonded flood determination, the determination finds the property outside of the flood zone.

I believe you would be on firm ground to show the data from the flood determination, include it in the report, and report the conflict in your comments.
 

Vermonter

Senior Member
Joined
Mar 21, 2007
Professional Status
Certified Residential Appraiser
State
Vermont
In all but the unmapped areas there should be a flood hazard determination in public records. Usually attached to the deed. It contains a "comments" area that usually gives a description of the flood zone area for the parcel.

In the few times this has come up I attach a copy of this to the report.
 
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