What’s an elevation certificate? | Let’s Get Real Estate | August

Dear Jan:

We are buying a water view home and the lender has asked if the owner has an “elevation certificate”? What in the world is that and if the seller does not have one, then what?

JJD

Dear JJD:

Since Kitsap County is surrounded by water, lenders are looking to see if the property you are buying is in a flood zone or not. The way they can be sure to request an elevation certificate for that property. The certificate verifies the elevation data of a structure on a given property relative to the ground level.

The Federal Emergency Management Agency has a form that is used to record the elevations. One of the form requirements is for a survey to be conducted by a land surveyor or registered professional engineer.

Once the elevation is determined and the elevation certificate issued, the lender can then determine if flood insurance will be needed or not.

To answer your question regarding “what if,” the seller/buyer can either provide the certificate or the buyer can pay for flood insurance on the property. A typical flood insurance policy costs about double that of a regular home insurance policy.

You should request your real estate broker to ask the seller’s broker if they have an elevation certificate or not. If they don’t and since a survey is expensive most likely the seller will decline paying for it and you will end up buying flood insurance.

Enjoy your view … it will most likely be worth the extra efforts!

Jan

Jan Zufelt is an associate broker with John L. Scott Real Estate.

More in Business

Search downtown this weekend — for painted rocks

POBSA merchants will hold drawing for those who post selfies with their rock

Port Orchard Chamber establishes COVID-19 resource page on its website

Links listed for national, state and county websites of benefit to business people

South Kitsap Properties opens new office in Port Orchard

Real estate office is on Bethel Avenue

IRS tax filing season starts Jan. 27

The deadline to file 2019 tax returns is Wednesday, April 15

Wave Broadband to increase costs of some TV services

Rate increases to take effect Feb. 1

Village Greens Golf Course wins Community edg3 Award

Bothell shoe company wins grand-prize award from Kitsap Bank

Kitsap Bank rewarded for community involvement

Also: Jackie Smith appointed branch manager at its Bethel and Lund branch

Kenneth Robert Nelson

March 12, 1933 – Oct. 8, 2019

Tornado spawns renewal of Bethel Avenue cafe and lounge

Establishment returns with a new name: Ruby Slipper Bar Grill

Port Orchard vaping business has empty shelves due to ban

New Way Vapors can’t sell its half-million-dollar inventory

Cheers restaurant to be razed for mixed-use building

Property owner plans to build 39 residential units and offer commercial space

KEDA to hold business forum Oct. 24 in Bremerton

Forum begins at 3 p.m. at the Kitsap Conference Center; tickets start at $55