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Flood Hazard Mitigation This new law should prove beneficial 10 buyers of property. However, it is based on the seHer's knowledge. This means, for example, that the seller does not have 10 check a Flood Insurance Rate Map to determine if the property could flood. This type of law is also very hard to police. The disclosure fonn must be signed by both seHer and prospective buyer, but if it is wrong, a legal action must be taken within one year of the sale. It is up to the buyer to sue 10 recover a loss due to false infonnation. Appropriate for: everywhere. Problems: Enforcement of these regulations is difficult Compliance with the federal lending requirements has been spotty, but has been Improving in recent years. The best approach for a community is to work with the local real estate agencies to encourage them to use the latest maps and provide assistance to them as needed. For more Information: Information on the federal lending requirements can be obtained from the FEMA Regional 5 Mitigation Division. The basic reference is Mandatory Purchase of Flood Insurance Guidelines. The best source of infonnation on how the Residential Real Property Disclosure Act affects a community is that community's real estate agents. 2.2 Property Protection Rather than keep water off of the land. property protection measures modify the buildings exposed to damage. They can be inexpensive measures from a community's perspective because they are often implemented by or cost shared with the property owner. Many of the measures do not affect the buildings' appearance or use. making them particularly appropriate for historical sites and landmarks. 2.2.1 Building relocation The surest and safest way to protect a building from flooding is to move it 10 high ground. There are many house movers in northeastern Illinois and any type of building can be moved. However, the cost goes up for heavier (e.g.. masonry) buildings and for large or irregularly shaped buildings. A ppropriate for: Areas subject to ice jams, flash flooding, deep waters or other high hazard where the only safe approach is to remove the building. Smaller. wood frame buildings on crawlspaces or basements are easier to move because they are lighter and it is easier to place jacking and moving equipment underneath the floor. Relocation is also preferred for large lots with portions outside the floodplain or where the owner has a new f1ood~ free lot available. Problems: Relocation can be expensive for the individual property owner. The cost can average $25,000 and range to over $50.000 depending on the type, weight and size of the house. whether it has to be cut and moved in parts. and the cost of a new lot However. there are some government loans or grants available (see Appendix A.