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re: Do you have to wait 30 days for flood insurance if you are purchasing a house?

Posted on 2/26/18 at 4:26 pm to
Posted by deathvalleygrassmmmm
Lafayette
Member since Feb 2011
591 posts
Posted on 2/26/18 at 4:26 pm to
If it is a new purchase and you put it in place the day of closing there is not a waiting period.
Posted by HeadyMurphey
Los Santos
Member since Jan 2008
17318 posts
Posted on 2/26/18 at 4:26 pm to
Correct
Posted by HeadyMurphey
Los Santos
Member since Jan 2008
17318 posts
Posted on 2/26/18 at 4:27 pm to
Wrong
Posted by Tiger Prawn
Member since Dec 2016
26348 posts
Posted on 2/26/18 at 4:27 pm to
quote:

They told me to apply for it as early as possible so the 30 days would be less by the time I moved in my house.


This is good advice for cash sales because the loan closing exception doesn't apply to cash purchases.
Posted by lsupride87
Member since Dec 2007
112595 posts
Posted on 2/26/18 at 4:28 pm to
quote:

This is good advice for cash sales because the loan closing exception doesn't apply to cash purchases
I can assure you I did not pay in cash

But this is what FEMA, and the writer of my policies told me to do/told me that was my only option.
Posted by lsupride87
Member since Dec 2007
112595 posts
Posted on 2/26/18 at 4:29 pm to
quote:

Wrong
late
Posted by Tiger Prawn
Member since Dec 2016
26348 posts
Posted on 2/26/18 at 4:33 pm to
quote:

I knew I should have got Chad as my insurance guy


Chad doesn't like Chuck E Cheese pizza parties. I couldn't do business with someone like that


Posted by TaderSalad
mudbug territory
Member since Jul 2014
26694 posts
Posted on 2/26/18 at 4:41 pm to
quote:

If you buy not in a flood zone, you still have to wait 30 days




Not entirely sure you're accurate on this. Currently buying a home in X flood zone (no insurance required). If I pay the full $450 upfront prior to closing, it goes active that day. If I add it at any point after, there is a 30 day waiting period. Unless my insurance broker is full of shite.
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