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<br />340 HAZARD DISCLOSURE <br /> <br />Community: <br /> <br />Various ways of telling people that a property is in a floodplain are credited under lhe CRS, No <br />credit is given if the information is provided only if a person asks, The disclosure information <br />must be volunteered or appear on a document, such as a Multiple Listing Service printoul or <br />offer to purchase contract, that house hunters see before they have committed to buying or <br />renting the property, <br /> <br />341 Credit Points <br /> <br />a, Enter 46 points if real estate agents notifY those interesled in purchasing properties <br />located in lhe floodplain about the flood hazard AND the flood insurance purchase <br />requirement. Disclosure at the time of closing is not credited, The flood hazard <br />designation must be based on the current FIRM, not whether the owner thinks it is <br />floodprone or whelher the owner knows of past flooding. Codes, such as "FP: Y" and <br />statements such as "flood insurance may be required" are not creditable because they <br />are unclear, incomplete, and do not specifically stale that the property is floodprone; <br />OR <br /> <br />Enter 20 points if a state law requires real estate agents 10 ensure that those interested <br />in purchasing properties located in floodplains are notified of the hazard, <br /> <br />b, Enter 5 points each for other legal requirements thal a property's flood hazard be <br />disclosed to potential purchasers or renters, Examples of disclosure requirements <br />include state or local laws that require sellers to state whether a property has ever <br />flooded, require final recorded subdivision plats to show the hazard, or require lot <br />surveys to state if the property is in a floodplain, Credit is provided for up to lhree <br />different disclosure methods (maximum credit is 15 points), <br /> <br />c, Enter 10 points if real estate agents provide brochures or flyers that advise potential <br />buyers to investigate the flood hazard for a property and discuss the flood insurance <br />purchase requirement, An example of such a flyer is shown on page 21. <br /> <br />d, Enter 10 points if the real estate agents' notification under 34 La also includes <br />disclosure of other flood-related hazards, such as erosion, subsidence, or wetlands, <br /> <br />Enter the total of a through d, Enter this value in the blank after "340" on page 47, <br /> <br />343 Application Documentation You must attach the following documentation to your <br />application, The ISO/CRS Specialist will explain what additional materials will be needed during <br />the verification visil and for your annual recertification, Check each section that applies: <br /> <br />a, [If you are applying for 46 points under Section 341.a] Copies of disclosure notices <br />from alleast five real estate agencies, If there are fewer than five agencies that serve <br />the community, then submit at least one notice from each agency. Blank forms are not <br />creditable, <br /> <br />b, [If you are applying for credit under Section 341.b or 20 points under 34La] A copy <br />of the portion of the ordinance or law that requires one or more addilional disclosure <br />methods at the time of sale or rental of a property, <br /> <br />c. [If you are applying for credit under Sections 341. c or d] A copy of the brochure, <br />flyer, or other document. <br /> <br />CRS Application <br /> <br />20 <br /> <br />Edition: January 1999 <br />