hard · National Real Estate Exam disclosures
Noel Adams is advising a client when this issue arises: Reliable records show that the property is in a special flood hazard area, and the issue could affect insurance and financing.
How should the licensee handle the situation?
- State that a licensee can guarantee future flood-map boundaries.
- Promise that ordinary homeowners insurance covers every flood loss.
- Omit it because the property has never flooded during the seller’s ownership.
- Share the flood information and refer the buyer to current sources.
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