Happy New Year to all,
Excuse me if this has been asked before - but when carrying out due diligence, what options are available to investigate whether the site of the home park is subject to flooding?
regards
Scott
Check the survey, check the FEMA maps, check with the city on prior flooding, ask neighboring property owners, look at your relation to lakes, creeks and other sources of water. If the survey shows you as clear of flooding then, as far as the bank and future buyers are concerned, you’re not in the floodplain. However, that does not mean that the property cannot flood – all it takes is some diversion of the water outside FEMA’s model, such as a tree that blocks a drainage canal – so doing some checking with the city and neighbors can’t hurt.