Buying in a flood plain? - Zillow Real Estate Advice

Every time?you buy a home you should think about the re-sale as real estate is an investment. ?These concerns that you are having are going to be the same concerns that prospective buyers will have when you go to sale. ?Yet when you go to sale you have to disclose that your home is in a flood plain, up-front. ?

It is tragic that this seller did not disclose this to you earlier, yet if they did not know, they did not have anything to disclose. ?

This is a?decision?you will need to pray about and speak w/ your family and friends to make your?decision. ?

If the seller is offering you a great enough discount with this new news (the flood zone) to make profit on the sale, 3 to 5 years down the road and comp the extra cost of flood insurance, this may be a deal. ?But if you cannot emotional get past the extra cost and the possible long selling process which may or may not happen in the future, then this purchase may not be for you.

Hope this helps,

Josh Barnett, Realtor

Source: http://www.zillow.com/advice-thread/Buying-in-a-flood-plain/473992/

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