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

.
Port Orchard restaurant at in-dining standoff with state over COVID restrictions

State attorney general seeking temporary restraining order against That One Place

Sound offers grants to help local businesses with advertising

EVERETT — Sound Publishing has launched a local stimulus program to help… Continue reading

.
That One Place penalized by state board for COVID-19 infractions

Port Orchard restaurant has its liquor license suspended for 180 days

.
Fred Meyer store reports having nine employees with COVID-19

Business says it is taking ‘extensive measures’ to keep store safe for employees, shoppers

.
Sweet memories greet visitors to Port Orchard’s The Candy Shoppe

Nostalgic candies and seasonal fudge smells are part of store’s alluring treats

.
Gingerbread House contest, Senior Giving Tree at Port Orchard Market

… and Santa will visit downtown Port Orchard location later in December

Rainy Daze is hosting a Pints for Purpose Event Nov. 28 raising money for Fishline's Christmas Child program.
Fundraiser Saturday for Christmas Child Program

Grab a pint and do some good at Rainy Daze Brewing in… Continue reading

.
Downtown businesses are bracing for a harrowing holiday season

COVID-19 fear, state-mandated restrictions will likely gouge holiday profits

.
Sylling’s Elderberry wins edg3 FUND’s Innovation Award

Campfire Coffee of Tacoma wins grand prize of $25,000

a
Scarecrows will be out on Bay Street this Halloween

Visitors can vote for their favorite at a downtown business

a
Two Port Orchard businesses named edg3 FUND finalists

Winning small business will be awarded $25,000

City extends CARES business rental relief funding
City extends CARES business rental relief funding

Almost $100,000 delivered already to more than 20 local businesses