If the dealer filed a flood claim with their insurer, yes- it will have a 'branded' title. It's not a new practice for dealers to ship vehicles out of their area, sold to equally unscrupulous dealers. Sometimes, repairs are made for obvious things but often, they strip the interior to dry it, put everything together and ship it. My dad had an upholstery shop in the '50s-'60s and said a local dealer had called to ask how much it would cost to have this done and when he was told they were on a car ferry that had flooded on the way from Detroit and that he wanted to sell them to a dealer out of the area, he told the guy he wasn't interested. This was in the late-'50s.