Flood Zone determination

[NJ Valuator]

I reported a property as being in a flood zone, but the client wants me to change it because the house itself is not in a flood zone.

If any part of the property is in a flood zone, it should be stated as such in the report.

Am I correct?

 

[Dublin ohio]

I reported a property as being in a flood zone, but the client wants me to change it because the house itself is not in a flood zone.

If any part of the property is in a flood zone, it should be stated as such in the report.

Am I correct?

Yes. We report the flood zone for the site. Not the improvements. Had one on a 10 ac site. The rear half was in a flood zone. None of the improvements were. Reported that the site was in a flood zone but it appeared that the improvements were not. Not a peep

 

[Tim Hicks (Texas)]

Lenders always think their documents have to match, but the flood certification is for the dwelling only. The appraisal is for the entire property. You can always ask them how much land and value needs to be removed from the property appraisal to not be in the flood zone.

 

[NC Appraising]

Lenders always think their documents have to match, but the flood certification is for the dwelling only. The appraisal is for the entire property. You can always ask them how much land and value needs to be removed from the property appraisal to not be in the flood zone.

Yep.

Per the form you sign everyday:

3. The appraiser has examined the available flood maps that are provided by the Federal Emergency Management Agency (or other data sources) and has noted in this appraisal report whether any portion of the subject site is located in an identified Special Flood Hazard Area. Because the appraiser is not a surveyor, he or she makes no guarantees, express or implied, regarding this determination.

I have been preaching this for years now. Do not rely on you vendors flood maps...they will get you in trouble. For example, find a site that is 100% undeniable in the flood zone, but the home is not. Plug that property into your form software and pull a flood map. 95% of the time it will say that it is not located in the flood zone. For fun, move that red circle in the noted flood zone. The software will now say that it is located in the flood zone.

Some lenders are OK with my answer. Some do not give a crap what I say. They just want me to change it to make the computer and to check a box so that they can move on.

For the lenders that will not budge, I simply change it on the 1004 and include the flood cert in my report. I also say in the site section that the site is located in the flood zone and changed it at the request of the client as their flood cert most of the time only reports when the improvements are in the flood zone and not the improvements. **Every once and a while, the maps are dated and the owner has had a recent LOA. That is 5% or less.

 

[Sadie]

Yep.

Per the form you sign everyday:

3. The appraiser has examined the available flood maps that are provided by the Federal Emergency Management Agency (or other data sources) and has noted in this appraisal report whether any portion of the subject site is located in an identified Special Flood Hazard Area. Because the appraiser is not a surveyor, he or she makes no guarantees, express or implied, regarding this determination.

I have been preaching this for years now. Do not rely on you vendors flood maps...they will get you in trouble. For example, find a site that is 100% undeniable in the flood zone, but the home is not. Plug that property into your form software and pull a flood map. 95% of the time it will say that it is not located in the flood zone. For fun, move that red circle in the noted flood zone. The software will now say that it is located in the flood zone.

Some lenders are OK with my answer. Some do not give a crap what I say. They just want me to change it to make the computer and to check a box so that they can move on.

For the lenders that will not budge, I simply change it on the 1004 and include the flood cert in my report. I also say in the site section that the site is located in the flood zone and changed it at the request of the client as their flood cert most of the time only reports when the improvements are in the flood zone and not the improvements. **Every once and a while, the maps are dated and the owner has had a recent LOA. That is 5% or less.

They can get an elevation survey to determine if the improvements are above the flood line. Or you can look a the aerial map that goes with the flood map and state the improvements appear to be out of the flood zone. But yeah any part in the flood plain and you mark Yes.

 

[sputnam]

I reported a property as being in a flood zone, but the client wants me to change it because the house itself is not in a flood zone.

If any part of the property is in a flood zone, it should be stated as such in the report.

Am I correct?

I agree with you. You are appraising the property which includes a dwelling. If some of the property is within a flood hazard zone but, the dwelling is not... say that in your report.