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Mandated DisclosuresFlood Zone DisclosureMEDIUM

West Virginia's flood zone disclosure is important because properties in flood zones:

Correct Answer

B) May require federally mandated flood insurance if financed

Properties in FEMA-designated flood zones that have federally backed mortgages are required to carry flood insurance. This is an additional cost that materially affects the buyer and must be disclosed.

Answer Options
A
Cannot be sold
B
May require federally mandated flood insurance if financed
C
Are exempt from property taxes
D
Always increase in value

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Why the Other Options Are Wrong

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Related Topics & Key Terms

Related Topics:

FEMANFIPflood-insurance-costmaterial-fact

Key Terms:

flood zoneFEMAdisclosureinsuranceWV rivers
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