Flooding is one of the most devastating natural disasters for families and property owners. In recent years, there has been a significant number of floods in Colorado. Property owners in the region have experienced hundreds of millions of dollars in damages. Not only does flooding impact home and business owners, but it also affects lenders, insurance providers, and the government.
Due to the substantial risk associated with flooding, lenders and insurance companies often require information about a property’s flood risk. In some cases, a lender may require a surveyor to fill out a FEMA Flood Elevation Certificate with official details on a property’s location in relation to a floodplain.
Also, if you’re located in a Special Flood Hazard Area (SFHA), the Federal Government may instruct lenders to require flood insurance. Unfortunately, you may be incorrectly marked on a floodplain if the Federal Government’s map misjudges your location. A surveyor can use a LOMA Application to attempt to change your property’s status on the SFHA list.
If a flood has already occurred, you may require flood services that help you recover boundaries or establish improvement locations. Our firm can help clients carry out an official survey on their properties if a flood has impacted the region. We also provide house staking services if your home or structure needs to be rebuilt.
Below, let’s explore the various flood services that Power Surveying Company, Inc. offers to clients.
FEMA Flood Elevation Certificates
- FEMA Flood Elevation Certificates provide concrete information about flood risk for a property.
- While FEMA has its flooding maps that are used to determine flood risk, this is not usually sufficient for a lender or insurance company.
- Our flood surveying services will assess the precise location of your property in relation to FEMA’s flood map.
- A FEMA Flood Elevation Certificate can provide additional assurances that your home is located in an area with reduced flood risk.
- Many lenders require this certificate before providing financing for a property.
- A Letter of Map Amendment (LOMA) is a letter providing evidence that a property is not part of a Special Flood Hazard Area (SFHA).
- In some cases, a property may be marked as located on a floodplain, despite evidence to the contrary.
- A LOMA can eliminate the need for your lending institution to require flood insurance on your property.
- Not all lending institutions allow you to bypass flood insurance. You may find that your lender requires flood insurance regardless of a LOMA being accepted.
- You should discuss your lending institution’s requirements before you proceed with a specific type of floodplain verification.
House Staking for Rebuilding
- In the case of severe damage to your home or business, you may have to rebuild structures on your property.
- Our surveyors can provide house staking services that map out rebuilding points on your property.
- In the aftermath of a flood, it may be necessary to recover boundaries using an official survey.
- Only an official examination can determine the exact property boundaries after severe flooding.
- This examination may be necessary if there is a dispute about your property’s boundaries.
ILCs (Improvement Location Certificates)
- An ILC provides an estimate of an improvement’s location in relation to property boundaries.
- It is often used as an assurance that an “improvement” does not infringe on a specific property boundary.
- This examination is not an official survey. It is considered a cheaper, less intensive estimate of an improvement’s location.
- Many lenders and title insurers will accept this form of ILC as evidence that an “improvement” does not interfere with deed lines.
- Some lenders may require an official survey to determine exact property lines.
- An ILC should not be used to determine boundary lines for a fence or new structure.
Contact Our Team for a Free Estimate
Power Surveying Company, Inc. has over 70 years of experience helping Colorado clients access professional surveying services. We’ve worked closely with our clients to provide flood services that put their minds at ease. If you need help with a flood-related matter, we’re always on hand to talk.
If you’re interested in any of the flood services that our firm offers, make sure to get in touch with our team as quickly as possible. With flood surveying services, time is usually of the essence. It’s critical to get specific certificates if you’re looking to finance a home or avoid costly insurance.
Our team has worked with major lenders and insurance providers in the area. We also provide all our clients with free estimates of our services. Give us a call!
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