Just a FYI. I didn’t fall for this, just wondering what kind of relief a buyer would have in such cases.
BG: A bunch of fairly new homes(~10 yrs old) next to each other were being listed few weeks apart and were selling like hot cakes(~0.5 mil). I was about to jump in, but suspected something must be wrong(may be a recent spike in break-ins or something else). And now more are being listed and receiving offers in matter of days. Researched a bit more and came up on a news article which indicates unexpected massive floods couple of months ago needing emergency water rescue and the whole place looked like a lake for few days. No wonder the current owners are fleeing.
Q: What kind of protection would a new buyer have when they realize the problem? Will they get to know when they are slapped with a hefty flood insurance (does this happen before or after they complete the purchase)?