Is a flood determination required in a situation where the loan is essentially land only but there happens to be a a piece of operating electrical equipment on it covered by a tin shed?

How would the insurability of the shed, or lack thereof, play into this, if at all?

Thanks much!

If the shed meets the deifinition of a building, a walled and roof structure, then the flood rules apply. See Low-Value Building on High-Value Land on page 29 of the Mandatory Purchase Guidelines.

Thanks Dan, I feared that was the answer because of the situation it seems to leave the lender in.

But there is a post on Bankers Online something along the lines of an irragation pump being covered by a shed and a question of whether flood insurance is required in that situation. The response was that this may not be an insurable structure.

Along the same lines, I am thinking about a situation where you might a field of oil wells for example, each with a electrical meter outside of it and each covered by a small shed. The sheds of course are not the real collateral, but also are not specifically excluded.

Is the right answer here, that - yes you still have to do a Flood determination to cover all the sheds (maybe thousands)?

Appreciate any feedback.

Let's say it's walled and roofed, however it just sits on a concrete slab...not anchored in any way...such as a "doghouse" over a well/pump...I don't believe that would be considered a structure...so wouldn't it, in addition to being walled and roofed, need to be "tied-down" to the foundation in some sort of way...whether it's by sunken posts or straps or something to actually anchor it?

To quote SFIP - - -a manufactured home, a travel trailer affixed to a permanent foundation or a structure with 2 or more outside rigid walls and a fully secured roof that is affixed to a permanent site.

My irrigation shed (from that other thread)counted. So did the "tool/pool equipment/snowblower shed" on the personal residence I bought a few years ago.

yeah, that's the key...it does say "affixed"...so if its a shed not affixed...just sitting there...it wouldn't.

I think I remember a deal from the past where a structure was on skids...it didn't qualify either.

The funny part for me was that the prior owners of my house pulled that shed down. Still kept paying the flood insurance.

My "other half" wants to add onto the house AND bring the shed back in the same part of the yard. I wouldn't even put a roof on the tree house........