Flood Policy Amendment – Effective 9/5/2017 |
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The NAAA Standards Committee has made an adjustment to the NAAA Arbitration Policy. Currently, a Flood Damage disclosure (from sellers to buyers) was only required for vehicles selling under the following sale light combinations: • Green light only The time period for Flood Damage via auction inspection is now extended from the "B & C" to "30 days from sale date". The time period for Flood Damage via DMV and/or Insurance company records will remain the same "120 days". The NAAA Standards Committee strongly urges all selling and buying clients to inspect the vehicles prior to the transaction to avoid arbitration issues. See NAAA.com's reference page for flood damage inspection best practices.
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