Legal Question in Real Estate Law in Texas

Flood Supplemental for signature 3 Months after contract is signed

My Builder is asking me to sign a waiver because my lot is located in a flood zone. I signed the contract in Dec and I was wondering why I wasn't told this at that time. I have been given three options: 1) Void the contract,2)Move to a different lot or 3)Allow the builder to pay for 1 year flood insurance. Do I have a right to negotiate a lower price for the home since I was just informed after the contract was signed. Because I have a corner lot and they have no more available.


Asked on 2/13/04, 1:51 pm

1 Answer from Attorneys
Cheryl Rivera Smith The Smith Law Firm

Re: Flood Supplemental for signature 3 Months after contract is signed

Everything is negotiable. If it were me, I would not buy in a flood plain. The operative word is resale!

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Answered on 2/13/04, 4:24 pm


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