Legal Update 1 | Chapter 3 | Water Issues | Responsive Quiz -9.x

Question 1 of 8:

When considering the risks associated with flooding, properties:

No property is completely without risk, as anywhere it can rain, it can flood.
Only properties with known flood potential should bring you concern
Not ALL properties have the risk associated with flooding – everybody knows that!
Ask your broker, she knows if my client should be concerned.

Question 2 of 8:

Go to https://msc.fema.gov/portal/search, this allows you to interactively visualize the property and surrounding areas in terms of zones designating 1 and 0.2-percent-annual-chance zones (areas of high and moderate risk of coastal or riparian flooding).

You can go online to the FEMA website (MSC.FEMA.gov) and enter the address of the property. Go to https://msc.fema.gov/portal/search,: These maps can be viewed:

Only by the best research librarian you know.
Easily by a web enabled computer or mobile device
With sophisticated Geographic Information Systems computers
Only on a Windows 10 device.

Question 3 of 8:

While not all properties require flood insurance, it might be helpful to your clients and customers to look at adding this to their policy. Properties outside of the Special Flood Hazard Area can still flood and are often eligible for Preferred Risk Policies. When clients are considering how to insure their property, best practices are.

Encourage them to contact an insurance agent quickly to determine coverage for water or flood damage issues.
Leave that concern to the mortgage loan officer, they normally take care of these things anyway.
The TREC licensed Home Inspector should handle this.
to have them get a good home warranty, they cover most of what homeowner’s insurance doesn’t

Question 4 of 8:

If a property is located within a Municipal Utility District (MUD),

The MUD is required to provide to the buyer notice in a public forum such as the community website all information regarding regarding the tax rate, bonded indebtedness, and standby fee, if any.
the broker is required to provide to a buyer prior to entering into a sales contract a notice regarding the MUD
the Title Company provides the buyer prior a notice regarding the MUD, regarding the tax rate, bonded indebtedness, and standby fee, if any, of the MUD.
the seller is required by the Texas Water Code, as well as the TREC contracts, to provide to a buyer prior to the buyer entering into a sales contract a notice regarding the MUD

Question 5 of 8:

Chapter 49 of the Texas Water Code requires the seller of property in a MUD district to give notice to the buyer prior to the buyer entering into a contract OR as an addendum to the contract at the time the contract is negotiated. If the notice is not timely provided

The buyer must pursue the seller legally for those potential fees for owning this property after closing
The seller remains contractually obligated for the fees associated with the MUD, transferring only the real property
The buyer can opt out of these fees, since they were unaware of them.
, the buyer can terminate the contract at any time.

Question 6 of 8:

When a license holder takes a listing, which is serviced by a MUD,

the seller should contact the MUD and obtain the required information, fill out the form and provide it to the listing agent as soon as possible. this form should be filled out by the seller at the time of listing and provided to the buyer at or before a contract to purchase is signed.
this form should be filled out by the license holder for the seller to provide to the buyer at or before a contract to purchase is signed
The license holder should download from the TREC website, since it would be the most current version.
The MUD notice should be kept on a thumb drive, since they are so portable.

Question 7 of 8:

A hydrostatic test is a way in which pressure vessels such as pipelines, plumbing, gas cylinders, boilers and fuel tanks can be tested for strength and leaks.

A Home inspector is not required to perform these tests if they feel doing so would have the potential to damage the property.
A plumber who is also licensed as a TREC home inspector can perform this test.
Can only be performed by a licensed plumber, who just might also be a licensed home inspector!
Should never be performed on new construction.

Question 8 of 8:

Since water is quite heavy, damages from Hydrostatic Testing can be considerable: Buyers should get written permission from the seller.

This can be written into the 1 to 4 Family Residential Contract in Special Provisions, paragraph 11.
An email will normally suffice
The plumber will provide all appropriate forms, since his E & O might cover damages.
ADDENDUM FOR AUTHORIZING HYDROSTATIC TESTING should be used

Legal Update 1 | Chapter 3 | Water Issues | Responsive Quiz -9.x

Howdy Texas Real Estate Academy Student! While this pop quiz doesn’t contribute to your course score, these questions are intended to reinforce several important points of the topic.

So you might see a score, it is not recorded for your grade.

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