Repair a damaged Sinkhole house? Beware of the money pit

If you buy, sell or own real estate in Florida or have resided in Florida for a while, you probably know that Florida is more prone to sinkholes than hurricanes or damage caused by tropical storms . It is impossible to determine the amount of monetary damage caused each year by the Florida chasms. A damaged abyss costs on average between $ 100,000 and over $ 150,000 for us to do the math, but we do not know how many homes or businesses are affected.

Although there is a database run by The Florida Geological Survey of the number of chasms reported in Florida – no one really knows the actual number of chasms or occurrences of chasms in Florida and the only ones Data collected are data based on the number of chasms observed in Florida. The Florida Geological Survey (FGS) has collected data on Florida Karsts (chasms) since 1907 in order to understand the relationship between karsts and groundwater resources and the state's aquifer systems

. The relationship with the "karsts" and "aquifer" is the last thing the owner of the damaged house cares about. If you suspect that your home has been damaged by a pit that what you need is "HELP". If you have seen or felt any of these 9 common signs of abyss activity, then you should quickly inform yourself about what to do and perhaps especially about what. do not do next.

1.) You have depressions or an opening in the ground.

2.) Cracks in interior floors, walls or ceiling.

3.) Windows and doors do not open and close correctly

4.) There is a slope in the ground.

5.) Cracks on the exterior walls of the house

6) Cracking or deformation of concrete slab floors.

7.) Well water contains soil or debris.

8.) Feeling the change of house under your feet.

9.) The house next to you is a gulf house in Florida.

There could be other signs of damage in your home such as plumbing and other miscellaneous problems, and it is best to seek the advice of an expert sheath engineer to determine what action to take. Are you ready for a house damaged by a chasm?

Owning a house damaged by a chasm can be expensive and even repaired; owning a home that has been affected by a Florida chasm can be a continuous nightmare. Most homeowners believe that once a damaged home is repaired, there is more financial risk or otherwise dangerous. This is not the case. Damaged homeowners can spend more than $ 150,000 repairing a house and reclaiming the abyss. Often, selling your home to an investor who buys your "unrepaired" downhill home is the smart choice. As difficult as it may be to separate from the damaged house, it usually saves a homeowner financially and in some cases removes them from what could be a very dangerous situation.

Repairing a house damaged by a well? "Beware of the pit of money"

The cost of repairing a damaged home by a chasm is astronomical. Most homeowners think that if a hole damages their home, the insurance company will have to cover the cost of the repairs. The truth is that, insurance companies do not encourage the use of combined repair methods and they will only pay the limits of the policy for home repair. The problem is compounded and somehow a double-edged sword that most insurance companies are trying very hard to avoid paying to the limit of politics. In addition, insurance companies often recommend that an owner opt for a single particular repair method compared to a proven combined method of gulf repair. This makes it even more vulnerable to recurring damage and more expensive repairs.

What options do homeowners who are damaged have?

Owning a damaged home can affect a homeowner's finances in many ways. Not only does it kill the value of your home, it also saves you the high cost of initial and recurring repairs. But, what options do you have if you own a gulf house? The options are pretty simple — Stay and repair or sell and move into a home that is safe and free from gulf damage. More importantly, the sale frees the owner of the big money pit. (No pun intended.) This means that no initial or recurring repair should be covered by the owner if it is sold to an investor of properties damaged by a sinkhole.

What buyers want to know about your home and what you need to disclose

If you think you can sell your damaged home after you have it fixed, think again. First, you must disclose this information to potential buyers in your home. Secondly, insurance companies will normally advise a buyer who is looking for property insurance that your home is listed as a gulf property – if in fact you have been determined to be in a gulf area. " Of course, there is no real reference to this subject, with the exception of maps of past activities in the chasms in the region as well as reports on the geology of the region. The availability of insurance is a valid concern and buyers who do not specialize in buying homes damaged by gulfs, most still distance themselves from this type of sale. Many buyers and homeowners are denied insurance even if there has been a report of a chasm within half a mile or less of the house that they wish to see. buy. Again, it's just another reality to own a house damaged by a sinkhole. Insurance companies have the right not to issue insurance policies on the basis of chasms in the "zone".



Source by Lori Fiore

Leave a Reply

Your email address will not be published. Required fields are marked *