10B — September 29 - October 12, 2017 — Owners, Developers & Managers — M id A tlantic

Real Estate Journal


O wners , D evelopers & M anagers Stout & Caldwell Flood Elevation Certificates The What, The Why, The How?

tout & Caldwell is a lead- ing provider of New Jer- sey and Pennsylvania Flood Elevation Certificates. We are licensed and insured Professional Land Surveying business and we have complet- ed numerous Flood Elevation Certifications in both states. The Three Most Common Questions about Flood Eleva- tion Certificates: Howmuch is this going to cost? – Flat fee ranging from $400.00 – $650.00 What forms of payment do you accept? VISA/MC/AMEX/ DISCOVER & CASHIERS S

CHECK When can you do it? We can typically schedule it within 3-5 business days; we will always give you our most ag- gressive schedule. What is a Flood Zone? A Flood Zone is an area that the government has deter- mined has a high, medium or low probability that a flood will occur based upon sever weather conditions such as the infamous 100 year storm or a major Hur- ricane such as Sandy. How is a Flood Zone De- termined? The Federal Emergency

Management Agency (FEMA) compiles the results of exten- sive flood studies, and pub- lishes “Flood Insurance Rate Maps” (FIRM). You can view the flood zone map for your property by going to the FEMA Map website. What is an Elevation Cer- tificate and where do I get one? The National Flood Insur- ance Program uses the Flood Elevation Certificate to cer- tify the base flood elevation of residential and commercial buildings. A Licensed Land Surveying firms such as Stout

& Caldwell Engineers & Sur- veyors in New Jersey completes the Flood Elevation Certificate. Does getting a Flood El- evation Certificate guaran- tee my flood insurance rate will be decreased? There are no guarantees how- ever it is possible that a lower premium can be obtained, we see this again and again but only the insurance company can determine this once they have the Flood Elevation Cer- tificate. If the structure is recorded at an elevation that is above the level at which the government has determined

that flooding is probable, the insurance company has the ability to lower your rates. Who is LOMA? LOMA is not a lady instead she is an acronym that stands for Letter Of Map Amendment. If your Flood Elevation Certifi- cate places your home or busi- ness out of the flood zone and the government agrees, you can submit a LOMA request form. Upon review and agree- ment with the information, the government will issue a Letter of map amendment for your property however your insur- ance company may still require you to carry flood insurance. If this is the case, you may want to talk to your neighbors to see what their situation is; perhaps their carrier would be better suited to insure your home. I work, should I be home when the field-work is being conducted? If your home is on a slab with no crawl space you do not need to be there. If you have a crawl space that is accessible to the surveyor, you do not need to be there; If you have a basement, you do need to be there. We love animals but if you have a dog(s) in the back yard, you will need to be there. How long will it take to get my Flood Elevation Cer- tificate? Turnaround times can vary based upon the companies current workload. Stout & Caldwell Engineers & Survey- ors strives to have a PDF of your Flood Elevation Certifi- cate emailed to you within 24- 48 hours of our site visit with the signed and raised seal cop- ies in the mail that same day. Why are Flood Elevation Certificates Needed in New Jersey and Pennsylvania? In order to determine your proper insurance rate, insur- ance companies will require that New Jersey and Pennsyl- vania property owners obtain a Flood Elevation Certificate certified by a licensed land surveyor or engineer. Stout and Caldwell can perform these elevation surveys and provide you with the report needed for your insurance company. The comprehensive report includes two original signed copies of the Elevation Certificate with raised seal, required photo- graphs of the home and an additional black & white copy for property owners’ personal files. n

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