Take Action on Home Buyer Protection
Now is the time!
Each day this week, we’ll be asking our members and supporters to take action on an important issue. From basic consumer protections to election transparency to access to healthcare, now is the time to act.
Today, we’re asking for your help on federal legislation related to disclosure and transparency when purchasing a home.
Currently, disclosure of a home’s flood status is not required — We believe this is an important consumer protection issue. Home buyers should be aware if a home they are about to buy has been flooded or is at risk of flooding.
Fortunately, legislation is being proposed in Congress that would require consumers be informed of this critical information.
Here are some key points to mention:
- Disclosure of flood risk and transparency about a property’s flood history is important, especially when buying or leasing a house.
- Current federal law doesn’t go far enough and many consumers are left in the dark about the flood risk of a new home after they buy/lease.
- People have the right to know if a house they’re thinking of buying has been flooded or is at risk of flooding
- ·You can get a Carfax history report for a used car you buy, but there isn’t an equivalent for a house you buy