What can I do about the lost value of my sinkhole home? Unfortunately, insurance policies and Florida law do not allow for recovery of loss of value to your property. This is an extraneous consequence of having a sinkhole claim that insurance contracts and insurance companies do not take into consideration. This is a cold [...]
Aug
20
2010
20
2010
Jun
30
2010
30
2010
Florida Sinkhole Location Maps
I am aware that at least one home in our neighborhood has had a confirmed sinkhole as the cause of the damage. Is there a relationship between the presence of sinkhole activity nearby and the potential cause of the damage to my home? There is a Florida sinkhole map, which is published by the State [...]
Jun
16
2010
16
2010
Testing for Presence of Sinkholes Prior to Purchasing Property
The State of Florida also does not enforce any concrete rules requiring builders to test for sinkhole activity prior to new construction. The best indicators to look for as a purchaser are visible cracks to the home. Take a good look and if none are visible, the concern should be low. You may also want to check the property appraiser’s website to see if any neighboring homes have had confirmed sinkhole claims although this may be a tedious project.
Jun
1
2010
1
2010
Sinkhole Claims and Public Information
During the 2005 legislative session, A wide variety of new statutes for Florida sinkholes were adopted. Before you think this change was to protect homebuyers, it was not. Instead, it was designed to mark homes with sinkhole damage, so that no future insurance company would insure it unless the proper repairs could be documented.
May
7
2010
7
2010
Giant Texas Sinkhole Gets Even Bigger
This is an example of an active sinkhole, which is using water and pressure to grow in size. Many times, once these sinkholes stop growing, developers will literally fill these in and build on top of them. When we get involved later, we find stories of about the history of the property, or even find arial photos taken prior to the construction. These then show how the homes were built right on top of these geological conditions. Never a good idea.
Apr
16
2010
16
2010
Apr
2
2010
2
2010
Get Reports Before Purchasing a Sinkhole Home
However, sellers will typically downplay the damage as “just minor settlement†or that “there was never actually a sink hole foundâ€. Just as you would want to see a Carfax report on a used car, don’t just take their word for it and demand the seller provide you with copies of the original testing and also of the repairs performed and make sure the repairs were certified by a professional engineer.
Mar
26
2010
26
2010
Sinkhole Insurance Is a Smart Investment No Matter Where You Live
ABC Action News in New York shows here a video of how a sinkhole forced the demolition of a home in York last week. They also reported about some large sinkholes causing damage in both Dauphin and Adams counties. The problem is underground limestone, a type of rock that runs under much of the midstate. But there is a way to protect your home. Purchasing sinkhole insurance.
Mar
25
2010
25
2010
Selecting an Engineering Firm to Investigate Sinkhole Damage
The issue often becomes not necessarily what their interpretation of the data is, but instead whether they have conducted sufficient testing before rendering an opinion. If they produce the test results, you can always have the data itself evaluated. Frankly, most insurance companies will get popped if they later discover that the engineering firm cut corners on the manner in which the loss was investigated.
Mar
23
2010
23
2010
Qualify Realtors Experienced in Sinkhole Damaged Houses
You may also want to find out if they have been involved in homes with other stigma as well (e.g. fires, hurricane losses). Some homes may be difficult to sell, too, for other reasons (e.g. a death at the home). You would want to ask them how they dealt with that issue. Be comfortable asking for references from prior clients for realtors, or for any other professional you hire (e.g. contractors, lawyers, accountants, etc.). Any professional who is uncomfortable providing references for matters similar to yours is likely to be someone you do not want to work with anyway.
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