When a Broker lists a home on water or near any waterway one crucial area of investigation is whether it is in the flood plain. Even with a lot that is partially in the flood plain, building a structure or adding an addition to an existing structure may be restricted.
To check the status, the buyer may contact a local surveyor or the Wisconsin Department of Natural Resources (DNR) for more information.
It is important to determine if a property is in the flood plain because if it is, flood insurance will be required by the mortgage lender.
There may be some clues that tip one off to a need for further investigation.
1. There may be water marks on trees showing water stands.
2. If there are lakes, streams or rivers nearby, it must be determined what the flood elevations area and then look at the local and State ordinances governing what can be built in the 25 year or 100 year flood plain.
3. What type of soils are in the area? Can the soil support a structure?
4. Is there storm water collection system: storm water sewer or drainage ditches?
5. Where is the structure in relationship to the surrounding ground. Eg at the top of a hill or the bottom.
It is vital that the buyers, themselves, investigate. They must think about future use of the property and if there are limitations to what they may built, or rebuilt, in case of damage to the existing structures.