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As a property owner in a flood-prone area, you might have heard the terms “substantial improvement” and “substantial damage” thrown around. But what do they really mean? How do they affect you? Let’s dive into these crucial FEMA concepts that every homeowner and appraiser should understand. What exactly are substantial improvement and substantial damage? Substantial
Substantial Improvement and Substantial Damage: What Property Owners Need to Know Read More »
Are you a property owner in Miami-Dade County? Understanding the difference between market value appraisals and FEMA 50% rule appraisals is crucial. These two types of appraisals serve distinct purposes and can significantly impact your property decisions. Market Value Appraisals: Market value appraisals determine a property’s value based on current market conditions. They consider factors
Market Value vs. FEMA 50% Rule Appraisals: What Miami-Dade Property Owners Need to Know Read More »
Navigating the complexities of the FEMA 50% Rule can be challenging, especially for property owners in Miami-Dade and Broward counties. This is a FEMA rule which require that buildings in flood-prone areas that are being updated or repaired meet certain flood prevention and safety standards. Here, we answer some common questions about the FEMA 50%
A Vital Guide for Building Owners in Flood-Prone Areas As a building owner in a flood-prone region, navigating the intricate regulations and guidelines set forth by the Federal Emergency Management Agency (FEMA) is crucial to safeguarding your property and ensuring compliance. Among these regulations, the FEMA 50% Rule stands as a pivotal guideline that can
