Sarasota FL Flood Zone and Insurance Info

Flood insurance is in the news with changes in federal legislation affecting FEMA.

Starting October 2013, for single family homes where the buyer is obtaining a mortgage, a buyer must have a flood elevation certificate to determine the property flood zone classification.  These can be obtained through a local property surveyor. This will be conducted during the escrow process along with home inspections and other contingencies.

Properties in the SFHA (Special Flood Hazard Area) designed with an A or V will experience large increases in annual premiums and flood insurance will be mandatory to obtain financing.  Buyers should be aware that flood insurance policies can no longer be transferred from the previous owner.

Here's the link to the FEMA site for flood zone designations:  http://www.fema.gov/floodplain-management/flood-zones

Cash buyers of single family homes are not required to carry flood insurance.  The new regulations do not pertain to condos, as of this writing.

To assist you in your property search, I have included flood zone designations on the property summaries of each of my over 50 neighborhood listings pages.

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