Environmental
Missouri's Meramec River and other rivers create flood risks. Properties in designated FEMA flood zones require:
ANo special requirements
BFlood insurance for federally backed mortgages✓ Correct
CMREC special flood disclosure forms
DMissouri DNR annual inspections
Explanation
Properties in FEMA Special Flood Hazard Areas (SFHA) with federally-backed mortgages are required to carry flood insurance. Missouri's rivers and flood plains make flood zone identification important in real estate transactions.
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- A Missouri property in a FEMA Special Flood Hazard Area (SFHA) requires flood insurance for:Environmental
- Under Missouri's disclosure requirements, sellers must disclose if the property is located in a FEMA Special Flood Hazard Area (SFHA) because:Environmental
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- In Missouri, which element is required to make a real estate contract enforceable?Contracts
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Key Terms to Know
Zoning
Local government regulations that control land use by dividing areas into zones specifying permitted uses, building sizes, and densities.
Private Mortgage Insurance (PMI)Insurance required by lenders on conventional loans with less than 20% down payment, protecting the lender — not the borrower — against default.
Gross Rent Multiplier (GRM)A quick valuation metric for income properties calculated by dividing the property price by gross annual rental income.
VarianceOfficial permission to use land in a way that does not conform to the applicable zoning ordinance, granted by a zoning board when strict enforcement would cause undue hardship.
State-Specific Concepts
Disclosure Requirements
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