I’m working with a commercial customer where they plan to finance purchase of a property with 2 buildings in a flood zone, then demolish those existing buildings. They would then develop 2 new buildings that, based on current plans, do not appear to be in a flood zone. I've explained they would need flood insurance on the existing structures prior to closing. However, I assume once they have demolished the existing structures, insurance would not be required and they can cancel those policies?

Next question - Will vendors provide a determination based on construction plans to ascertain whether the new buildings will/will not be in a flood zone before requiring (or not) insurance to be in place prior to the new construction?

Thank you

Correct on your first paragraph.

On your second question, you would have to ask your specific vendor.

Thank you!