Nashville couple closes on Friday and the floods came on Saturday.
A USA today column (read column) reports on a hard hit Nashville neighborhood. One unfortunate couple had just closed on their house on Friday before the flood began on Saturday. Their bank and FEMA both said they weren't in a flood plane and didn't need insurance, so they didn't buy it.
Is anyone to blame here? The real estate agent? FEMA? The lender? The homebuyer? In this case due to the freakish nature of this flood (some calling it a 1000 year flood) I don't think anyone is to blame or holds any liability. This is just a very, very unfortunate situation for a lot of people but again I don't see that anyone is to blame or holds any liability.
Are there lessons to be learned? Perhaps? My advice to any homebuyer is always check the FEMA flood maps, don't just take the word of the agent or the lender.
There is just no way to always avoid all problems involved with owning a home. If you like the water do your homework and if that pans out go for it... and hope it's another thousand years before there is another thousand year flood in your area.
Is anyone to blame here? The real estate agent? FEMA? The lender? The homebuyer? In this case due to the freakish nature of this flood (some calling it a 1000 year flood) I don't think anyone is to blame or holds any liability. This is just a very, very unfortunate situation for a lot of people but again I don't see that anyone is to blame or holds any liability.
Are there lessons to be learned? Perhaps? My advice to any homebuyer is always check the FEMA flood maps, don't just take the word of the agent or the lender.
There is just no way to always avoid all problems involved with owning a home. If you like the water do your homework and if that pans out go for it... and hope it's another thousand years before there is another thousand year flood in your area.
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