Saturday, July 18, 2009

Buncombe County Real Estate—Hazardous-Land Disclosure Statement

The following is a modified version of the 1998 California Natural Hazard Disclosure Statement and is an example of the type of risk information that should be included in Buncombe County, North Carolina real estate transactions.

Hazardous-Land Disclosure Statement

Please be advised that you are buying real estate in a federally designated disaster-prone county.

The Renaissance Computing Institute and the Buncombe County Emergency Operations Center have researched hazardous-land data and have determined that extensive real property in Buncombe County is threatened by three expected high-impact geological events: landslides, flooding and wildfires. Every parcel in the county has been assessed for hazard extent and potential market-value loss. Information is available though various planning offices throughout the county.

Landslide-Hazardous Real Estate

The decision to buy landslide-hazardous real estate should be well-considered. Flood and fire insurance is available to property owners. Landslide insurance protection is not obtainable. The inability to insure this special-risk real estate will have an adverse effect on property values. Please seek legal advice concerning landslide liability.

The maps and reports generated by the Buncombe County Multi-Hazard Risk Tool are “best guess” estimations of probable disastrous events. Flood and wildfire risks are known through published maps available to the insurance industry. Costs to insure these properties are predicated on the level of risk.

Landslide maps, likewise, show generalized questionable building locations. Landslide propensity is only determinable by on-the-ground site surveys. These investigations should be conducted by state licensed engineers.

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