REALTOR RESOURCES

Are you trying to help someone sell a house or property that has floodplain issues? FEMA floodplain can significantly encumber a property from a physical and real estate perspective. Having FEMA floodplain mapped on your property can make it worth less. It can also make it harder to sell a residential property if even a small sliver of the lot has FEMA floodplain mapped on it because a buyer will be required to purchase flood insurance if they are taking out a mortgage to buy the property. However, there are various tools that can alleviate or eliminate the FEMA floodplain on your property (see below). Contact us if you need assistance on your property.

Below is a short explanation of each type of the most commonly used floodplain management tools:

• LOMA - Letter of Map Amendment - This is a document package that describes to FEMA where the floodplain is located on a property by using updated topographic information to correct FEMA’s understanding of where their floodplain is actually located. This tool can only be used when fill has not been utilized to elevate the property out of the floodplain. A LOMA does not need to be submitted to the local floodplain administrator (i.e. city or county) before submitting to FEMA. Once a LOMA is approved by FEMA, it removes the federally mandated requirement for flood insurance. This is a common tool for single residential lots, but it can be used for multiple lots and in some cases for land development projects.

• LOMR-F - Letter of Map Revision based on Fill - This tool is similar to a LOMA, but it is used in cases where “fill” has been utilized to raise the property (or a portion of it) above the FEMA floodplain ‘base flood elevation’ (BFE). A LOMR-F has to be approved by the local floodplain administrator (i.e. city or county) before it can be submitted to FEMA for review. Once a LOMR-F is approved by FEMA, it removes the federally mandated requirement for flood insurance. This is a common tool for single residential lots, but it can be used for multiple lots and in some cases for land development projects.

• Elevation Certificate - This document can be prepared by a licensed Professional Engineer or Surveyor, but it does not get submitted to FEMA. It is submitted to the lender and (assuming the finished floor is higher than the FEMA Base Flood Elevation) typically serves to reduce the flood insurance premium the owner will have to pay on the subject property as compared to the premium that would be charged without an elevation certificate. However, an elevations certificate does not remove the federally mandated obligation for a lender to require flood insurance on a property located in the FEMA special flood hazard area (SFHA) - again, it usually only serves to reduce flood insurance premium.