Environmental
A Florida real estate listing discloses that the property is in a FEMA-designated Special Flood Hazard Area (SFHA). The buyer should be aware that:
AThe property cannot be financed with a federally-backed loan
BFlood insurance is mandatory for any federally-backed mortgage loan on properties in SFHAs✓ Correct
CThe property must be elevated before closing
DThe seller must purchase flood insurance at their own expense before selling
Explanation
Properties in FEMA-designated Special Flood Hazard Areas (100-year floodplains, Zones A and V) with federally-backed mortgages MUST have flood insurance. This is required by the National Flood Insurance Act.
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