In May 2021; nationally known flood insurance consultant Lisa Sharrard recommends that all property owners consider buying some amount of flood insurance to be in effect before Flood Insurance 2.0 goes into effect October 1, 2021 in order to be in a position to decide which pricing system works best for them going forward (e.g., minimum $15,000 even for owners not in high risk flood areas).
Also in May 2021, NAR NFIP staffer Austin Perez stated he is available for questions about NFIP issues. Austin Perez <aperez@nar.realtor>. Austin has been involved with SC and other states on NFIP for over ten years.
https://www.fema.gov/flood-insurance/work-with-nfip/risk-rating
803-865-4297. Lisa Sharrard flood consultant
lisa. Lisa Sharrard flood consultant
Consider using the SCR233 flood / insurance disclosure.
https://www.screaltors.org/wp-content/uploads/Forms/233.pdf
Watch the SCR flood videos:
https://www.youtube.com/user/SCREALTORS/search?query=flood
Stay tuned for upcoming SCR and NAR webinars, Zooms, meetings, and written information on flood issues (e.g., FEMA official, Lisa Sharrard, Weekly Report).
https://www.youtube.com/user/SCREALTORS/search?query=flood
https://www.nar.realtor/flood-insurance
Consider using the SCR230 seller disclosure with the questions about water, flood issues, and insurance.
https://www.screaltors.org/wp-content/uploads/Forms/230.pdf
April 1, 2022 is a date for NFIP renewal pricing.
Lisa Sharrard is optimistic about Flood Insurance Risk Rating 2.0 coming in April 1, 2021.
SCR REALTOR® Donna Smith (the first chair of the new NAR Insurance Committee) is a South Carolina and a national leader on flood insurance in real estate transactions
Posted by: Byron King on 5/06/21 (This information is only accurate as of 5/06/21. You must contact SCR for updates and changes to this information after 5/06/21 as laws and regulations may change over time. SCR 803-772-5206 or email info at screaltors.org)