S.C. Introduces Flood Disclosure Form

December 12, 2019

South Carolina’s Real Estate Commission—at the urging of REALTORS® in the state—is amending its disclosure requirement in housing transactions to give home buyers greater information on a property’s risk of flooding. The form will include all past flood claims on a home.

It can be challenging to find flood histories on homes due to federal privacy laws. Now, the standard disclosure form in the state will require sellers to disclose all claims, even those they knew about prior to owning the home, and include the dates.

South Carolina REALTORS® led the charge for the changes. Nick Kremydas, chief executive officer of the association, was the first to raise the idea of revising the state's disclosure form to make buyers aware if they’re about to purchase a home that has flooded in the past.

Some advocates suggest the state could take a further step, as Texas and Louisiana have done, by requiring that sellers disclose on the form how much insurance money they received. “A $1,000 flood is a lot different from a $100,000 flood,” Joel Scata, an attorney with the Natural Resources Defense Council, told The Post and Courier.

Editor's Note: This story was edited after publication to clarify two points: (1) that South Carolina REALTORS® led the charge for the change and (2) that the change was a revision to an existing form rather than creation of a new form.