Flood zone properties are harder to sell, but not because of any legal issues. FZ properties are less attractive to buyers because of the flood rock and the elevated insurance premiums. But theese risks and costs are incorporated into the pricing. If you had 2 identical houses accross the street form each other, one in a FZ and one not. The FZ property will command a lower price.
But FZ properties change hands all the time. If you price it right, it will move
Re: Flood Zone - Harder to sell? - Posted by River City
Posted by River City on June 27, 2006 at 09:55:37:
Not necessarily. Much of Florida is in designated flood hazard zones, so this is common. The fact that the property is in a flood zone should be disclosed up front. I believe it is included in the property disclosure that is to be completed by the seller. Anyone wanting property on the ocean or within a couple miles of the ocean know the property will be in a flood zone. Also anyone wanting property near the IntraCoastal know that property will be in a flood zone.