Let's face it - force-placed lender requirements can be a real obstacle between your strategic business goals and your dreams as far as how your commercial property acquisition or development goes. But here is the bright side of it - nothing is impossible.
Just before the Labor Day weekend, we rolled up our sleeves and withing the 48-hour framework removed the force-placed lender requirement for over 100,000 sq.ft multifamily development project in South Carolina. This has saved our client, a the top national Fortune 500 commercial real developer, owner and operator $35,000 in annual flood insurance costs.
The truth is, nothing is written in stone, when it comes to flood insurance. Your lender requirements for commercial properties can be removed - provided they qualify for "low-risk" flood zone status.
About Hanson Flood Risk Consultants
Hanson Flood Risk Consultants is a proactive flood risk management company specializing in flood risk determination and reporting of flood risks throughout the United States. We focus on exposure, uninsured losses and liability. We are 100% committed to creating flood risk assessment tools and solutions that improve the way you handle flood risk of your properties and business. We want to hear from you. Follow us on Twitter at @HansonFloodRisk and let us know what you think about our flood solutions and around-the-clock support. Your feedback makes us better.