What is an Elevation Certificate?
The state of Florida isn’t known for high elevations. Any “mountains” in Florida are manmade (and probably part of a ride at Disney World). In fact, much of Florida is at or near sea level. Did you know Florida is the flattest state in the nation? The highest point in the state is only 345 feet above sea level! Flooding is an all too common occurrence in many parts of Florida.
When real estate property is located in a Special Flood Hazard Area and you are in the process of acquiring that property– perhaps obtaining a mortgage for it– you’re going to need to obtain an elevation certificate. This is a document that details the elevation of a property in relation to the base flood elevation. The certificate indicates a forecast of the height the flood water could rise to in that area, and ultimately dictates the cost of flood insurance.
Typically, an elevation certificate is prepared by a land surveyor or other licensed individual/company. The certificate uses the base flood elevation as a base for which flood waters will likely top out during a flood. Flood insurance premiums cost more when there’s a greater likelihood of a claim being filed. Therefore, if you have a property that’s determined to be highly likely flooded, you’ll be paying high premiums to insure it.
Elevation certificates are needed by insurers who want to know their risk and how much they should charge you. Insurers essentially want to know if a property is high-risk with regard to potential flood damage.
Note: obtaining an elevation certificate doesn’t provide a waiver of a flood insurance purchase requirement.
Did you know that Reliable Lien Search of Cooper City, Florida, has partnered with survey vendors throughout the state of Florida? If you need a survey done quickly, in most cases we can get one done for you within a day or two. Our surveyors use the latest and most sophisticated technology available. Should you need an elevation certificate, have Reliable Lien Search help make it happen. Call 954-447-6947 or email firstname.lastname@example.org for more information.