Texas Flood Disclosures
New Texas Flood Disclosure Law in Effect
The Texas new flood disclosure law (Senate Bill 339), went into effect September 1st, 2019 and many Sellers and Realtors are left wondering how to fulfill this requirement and how to obtain the information needed to ensure they are compliant for all home transactions going forward.
Coastal Risk’s flood disclosure report will help Texas Home Sellers, Realtors, and Lenders satisfy the Seller Disclosure Requirements without fear of misrepresentation.
Our team consists of world-renowned climate scientists, geospatial technologists, and software developers, supported by academic peer review and an advisory board of leading authorities on weather and climate risk management.
As the first, and only, company with a proven track record of professional-grade flood and climate risk analysis at an individual property level, you can be sure your listing is accurately represented in accordance with the new law.
As reported by the Texas Tribune on August 22, 2019
“After Harvey surprised thousands with unexpected flooding, new law aims to better inform homebuyers…The law, written by Sen. Joan Huffman, R-Houston, requires homeowners to disclose if their properties lie in a flood-prone area, have flooded before, or could flood in the future. It’s an effort to expand notification after many homes unexpectedly flooded during Hurricane Harvey.”
Read the full article detailing the requirements of the new Flood Disclosure Law in Texas.
Buyers need to be given more information about a property's flood risks
“Of the more than 200,000 Texas homes damaged in Hurricane Harvey, 75 percent were not in the FEMA 100-year flood plain. A great majority of these homeowners did not buy flood insurance because their mortgage company did not require it.“
Read more about Home Buyer Due Diligence regarding Flooding Risks on Invading Seas.