Flood Cert was wrong??

[edemay1022]

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

 

[army judge]

Contact an attorney in DuPage County.
There are many in Wheaton.
They will discuss your options during your initial free consultation.
This is far too complex and unique for you to receive proper advice on this forum.

 

[edemay1022]

Thanks army judge. I spoke to my lawyer I used for the transaction who basically said this couldnt have been overlooked. I also noticed the Flood cert was NOT included in the closing documents (I thought it was supposed to be) and am trying to get that from the bank. Once i get the info i will definitly consult legal council. In the meantime, this is frustrating

 

[army judge]

I sympathize with you.
But, patience brings sweet rewards.
The wrongdoers will deny and resist, but you must persist!

 

[edemay1022]

So, just in case your curious. this is what i have found out. Although my lender told me I was not in a flood zone I got the flood cert from them (which was NOT in the closing documents by the way) and it states that we ARE in a flood zone. So, the lender did not disclose this information prior to closing although they verbally told us we are fine and everything is good. Also just throwing it out there my lender is Bank of America, who has no lack of resources, etc to make an accurate judgement (just saying i didnt go with a "no name" mortgage shop with limited resources).

I asked my loan officer who told me he was unaware but assumes since the flood line only covers my backyard and doesnt cover my house that they didnt have to disclose the information. Seems to me this should have been communicated to me and my lawyer, and been a document that was included in the closing documents. Additionally it was mentioned that flood plain maps are public record so it may be assumed that i was supposed to research this on my own, however as an average consumer whose expertise is not in real estate I hired professionasl to do the due diligence for me (lawyer, agent, etc) should they have came accross this information even if the bank chose not to share this info.

I know you had mentioned to speak to a local lawyer I was just hoping to get thoughts/ general comments so I may be a bit more informed as I speak to my lawyer. Also should i get a new lawyer (not the one that I hired to represent me in the closing) as perhaps she might have dropped the ball and will want to protect herself)?

Thanks again for your comments. They are appreciated.

 

[army judge]

If it wasn't in writing, it will be denied or disputed.

Read your documents, they'll have a disclaimer about promises or representations not in your documents not being part of your contract.

Never rely on oral representations.

Always get everything in writing.