"‘It’s a recognition that flooding is only going to get worse and that they need to take action now to protect home buyers and renters,’ says one advocate".
"Hours into a marathon meeting earlier this month, and with little fanfare, the North Carolina Real Estate Commission gave its blessing to a proposal that could have profound impacts in a state where thousands of homes face threats from rising seas, unprecedented rainfall and overflowing rivers.
Soon, anyone who sells a home in the state will be required to disclose to prospective buyers far more about a property’s flood risks — and flood history. Rather than merely noting whether a home is in a federally designated flood zone, they will have to share whether a property has flood insurance, whether any past flood-related claims have been filed, or if the owner has ever received any federal assistance in the wake of a hurricane, tidal inundation or other flood-related disaster.
With the changes, North Carolina became the fourth state this year to embrace more stringent disclosure requirements, joining South Carolina, New York and New Jersey."
Brady Dennis reports for the Washington Post December 27, 2023.
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