H-4694              _______________________________________________

                                          SUBSTITUTE HOUSE BILL NO. 1412

                        _______________________________________________

State of Washington                              50th Legislature                              1988 Regular Session

By House Committee on Environmental Affairs (originally sponsored by Representatives Patrick and May)

Read first time 2/5/88.

AN ACT Relating to disclosure of flood plain information by real estate brokers and salespersons; adding a new section to chapter 18.85 RCW; and creating a new section.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF WASHINGTON:

NEW SECTION. Sec. 1.     The legislature declares that it is the public policy of the state to encourage the full disclosure of flood hazard information to purchasers of property in areas subject to flooding.  To achieve this policy, the legislature further declares that it is the responsibility of real estate brokers and salespersons to provide to purchasers of real property information regarding possible and probable flooding of real property located in floodplains and floodways.

NEW SECTION. Sec. 2.  A new section is added to chapter 18.85 RCW to read as follows:

          All real estate brokers and salespersons shall fully disclose pertinent flooding information to persons purchasing real property located within areas designated as special flood hazard areas on the most recent maps provided by the federal emergency management agency for the national flood insurance program.  Pertinent flooding information shall be disclosed prior to or concurrent with the first offer for the purchase of real property, and shall include:

          (1) Notice that the property is located within an area identified as a special flood hazard area by the federal emergency management agency, including notice that the property is located within either a floodway or a floodplain;

          (2) Notice of the existence of local floodplain management ordinances and information regarding how to obtain a copy; and

          (3) Information regarding prior flooding that has occurred on the property, if available.