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Rep. Nicholas proposes option for absentee sellers to flag they never lived on property in flood-disclosure forms
Summary
Representative Tony Nicholas told the General & Housing committee his bill H.827 would add an option for sellers who never lived on a property to indicate that on flood-disclosure forms; committee members noted last year’s Act 52 now requires providing a FEMA flood-insurance-rate map or a notice if no map exists and suggested coordinating with the Vermont Board of Realtors to update the form.
Representative Tony Nicholas told the General & Housing committee on Feb. 18 that his bill, H.827, would add an option on real-estate flood-disclosure forms allowing sellers who never lived on a property to indicate that fact so buyers can make an informed decision.
Nicholas, who identified himself as a licensed real-estate broker, said foreclosure companies and absentee heirs often lack direct knowledge about whether a property has flooded. "So what my bill proposes, is to just allow an an option if you never lived on the property to say that," he said,…
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