Posted by Jim IL on March 03, 1999 at 22:23:21:
I recently came accross a “closing cost” that I had never heard of. This was a charge for “flood certification”. Apparently, lenders and local Realtors got together and started to demand, (meaning it is not the law, but negotiable), a Flood plain check. this lets the buyer and/or lender know that the property is either not in, or near a flood area.
Apparently this came about after 1996, due to many floods in areas that had never ever had this problem before, but sustained much damage from exessive rain, and inadequate infrastructure.
Of course it was only $15 bucks, (no price listed in the contract) so I agreed to pay it. Really nice of me, huh?
On too Dallas I go, see ya there,