Quote:
Originally Posted by John_W
What was your flood factor? Mine was a 5, which it said there is a chance it might flood at least once in the next 38 years. I'm nowhere near a pond or water. I didn't get a mortgage but my homeowners insurance never asked about it.
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Homeowner's insurance might not care as it doesn't cover flood issues. You get flood damage, not their problem. It doesn't look like being on a man made pond, AKA may or may not have water, is a flood risk factor. Being where the natural water table is at or near the surface, eg swampland, is a factor.
OP It is the law that The Villages was not required to tell you about the flood rating when you bought the property, but IMO they should have. But that's not how Florida works where
the laws protect the developers much more than unwashed masses. Buyer beware.
Of course when you sell your home you also will be under no obligation to tell potential buyers they are buying a home that needs flood insurance to get a mortgage. Will you nonetheless tell them?