On this episode of Caveat REALTOR®, Virginia REALTORS®’s legal team discusses flood insurance. It is a topic that has taken on greater importance for homeowners and, consequently, REALTORS® in recent years. Laura and Jon answer some legal hotline questions, such as “My client is selling a property that requires flood insurance because it floods every five years or so. The last flood damaged the subfloor and he never got around to getting it fixed. Because the damage is related to flooding, he doesn’t have to disclose to the buyer, right?” Finally, they review how brokers and agents can limit their liability when discussing flood insurance with their clients.
