Washington Report

Advocacy Updates from Washington D.C.

NAR Legal Guidance on Flood Insurance Disclosures

The 2012 Biggert-Waters Flood Insurance Reform Act reauthorized the federal program for five years.  Because the Act also phases out rate subsidies for older property owners and buyers, and some could spend considerably more on flood insurance as a result, brokers and agents have asked about the disclosure of the rate changes.  NAR’s General Counsel offered the following guidance in the marketing and sale of property for which flood insurance may be required, or that is located in areas where the purchase of flood insurance may be prudent.

NAR Legal Guidance

Notice: The information on this page may not be current. The archive is a collection of content previously published on one or more NAR web properties. Archive pages are not updated and may no longer be accurate. Users must independently verify the accuracy and currency of the information found here. The National Association of REALTORS® disclaims all liability for any loss or injury resulting from the use of the information or data found on this page.

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