flood question on condojust got a call from a Realtor friend of mine. She has a friend who is selling a condo in West Covina, CA. According to the flood cert, it is in a 100 year flood plane. The seller has an individual flood insurance policy in place and the buyer is willing to obtain one as well. The appraisal mentions that the propery is in a flood zone as well. The buyer is trying to get their financing through BofA and they conditioned for having the entire complex get a master flood insurance policy, which the HOA is not willing to do. BofA won't accept the buyer getting an individual policy. I know the rules on flood insurance have tightened recently, but does anybody have any ideas about how to make this deal work? On one hand, I would think that the lender is protected as long as the new buyer havs a flood insurance policy covering the subject unit. On the other hand, I could see the lender being concerned about the marketability of the property in the event that there was a flood and other units were damaged without having an individual flood policy. IE: there are damaged units in the complex without flood insurance which would drag down the value of the other units that do.Anybody have any ideas? December 18 2013 - West Covina00YesReport a ProblemProblemSelect oneOffensive contentIrrelevant contentSpam (pure self-promotion)OtherDetailsYour emailPlease enter a valid email address.Submit CancelContent flaggedWe will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.We're sorry. This service is temporarily unavailable. Please come back later and try again.