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| Natural Hazard Disclosure Law |
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The Natural Hazard Disclosure Law is not specific on all areas of concern for disclosure purposes. Many areas of the country, state and local regions have other areas of concern that may require special reporting. Quality Assured (QA) will advise the Seller(s) and their Agent(s) if additional reporting is necessary and available to provide disclosure to the potential Buyer(s). Examples may be the presence of methane, proximity to airports, landfills, etc., which may be found in databases that may not be routinely searched to see whether the property in question is affected by the physical characteristics. QA can advise whether a separate environmental report would be necessary. Quality Assured generally provides information on between six and sixteen areas of concern. The state and local governments may have additional information concerning local issues of concern, such as local current or historical landslides, toxic spills, noise problems from general aviation airports, etc. A Natural Hazard Disclosure (NHD) report from Quality Assured gives the Seller(s) and their Agent(s) peace of mind, and they can rest assured that their legal disclosure requirements have been satisfied. The products made available by Quality Assured do not constitute insurance, but are for informational purposes only. Quality Assured produces reports that are compiled from public databases. This information is subject to change and updating by other entities, typically governmental agencies. The information provided by Quality Assured represents the most recent approved and issued data, that is made available to QA. Any subsequent additions or updates to maps and databases after the date of issue on the report will not be reflected. The Seller(s) and their Agent(s) have an affirmative obligation to advise Quality Assured if they know or should have known of any errors or inaccuracies in the QA report, so that QA may revise and reissue the report. It is also the duty of the Seller(s) and their Agent(s) to inform QA of any state or local announcements of changes and pending modifications. All other natural hazards not referenced in the QA report must be disclosed to the potential Buyer(s), in written form. Again, the purpose of the Natural Hazard Disclosure is to inform the potential Buyer(s) of any potential hazards and to let the Buyer(s) make an informed decision to buy, and/or mitigate such hazards.
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