edemay1022
New Member
I recently purchased a home in Wheaton, IL. During the purchase transaction I hired a lawyer, worked with a lender and a real estate agent (essentially I hired the professionals to assist me and relied on their expertise). During the transaction a flood certification was performed as is standard practice (in Illinois anyways) and everything came back okay and no flood insurance was required by lender, etc. So we closed on the home and went to the city to get a permit to put up a fence. The city states our property is in a flood zone which will delay getting the permit but thats not what i am worried about. I looked up our home on the FEMA website and we are infact in a flood zone (Zone A). Obviously this is upsetting to me and my fiancee in that had we known this info prior to closing (if the flood cert caught it) we would not have purchased this home.
My question is, has anyone ever heard of this happenning? Also what is my legal recourse as this can result in a material financial disadvantage (when I try to resell and to pay for Flood insurance which is very pricey that i did not plan on).
Please help and thank you very much for your guidance.
edemay1022
My question is, has anyone ever heard of this happenning? Also what is my legal recourse as this can result in a material financial disadvantage (when I try to resell and to pay for Flood insurance which is very pricey that i did not plan on).
Please help and thank you very much for your guidance.
edemay1022