A
Alan C.Kincade
Guest
Real Estate Disclosure
Arizona; i purchased a house in a known flood plane but when i went for a permit for additions to the house i was told the entire property was in a erosion setback hazard area. i am now either not going to be able to build or at substantually higher cost. My main concern is that the original house is at risk not only from water damage in a flood which incidently would not reach the floor elevation in a 100 year event, but that the bank could erode the entire property away. i found out from talking to the daughter inlaw that the original owners knew of this because they were denied permits. Were they required to disclose this? also is the realtors in any way required to do any research on a know flood prone property?
Arizona; i purchased a house in a known flood plane but when i went for a permit for additions to the house i was told the entire property was in a erosion setback hazard area. i am now either not going to be able to build or at substantually higher cost. My main concern is that the original house is at risk not only from water damage in a flood which incidently would not reach the floor elevation in a 100 year event, but that the bank could erode the entire property away. i found out from talking to the daughter inlaw that the original owners knew of this because they were denied permits. Were they required to disclose this? also is the realtors in any way required to do any research on a know flood prone property?
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