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Old 03-16-2011, 11:06 PM
 
143 posts, read 180,719 times
Reputation: 79
Default Repairable sinkholes?

My wife and I are considering purchasing a house in either Pinellas or Pasco. I came across notations on some homes stating , words to the effect, "settlement issues resolved", "sinkhole repaired" or "sinkhole resolved and fully insurable". I am from NY and only know about sinkholes from these posts and a little research. I thought that if they found out that your house was on top of a sinkhole that it was pretty much a wash out as to selling your home. Maybe I'm wrong but isn't a sinkhole the top of an underground cave just waiting to swallow a home? Is it possible to "cure" this defect in the property and still be insured, and if insured wouldn't the premiums be really expensive?
Thanks in advance for any information.
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Old 03-17-2011, 04:51 AM
 
Location: Hernando County, FL
8,490 posts, read 10,402,305 times
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They either drill down and pump in low slump grout, a type of concrete or drill down and put in pilings(can't remember what they are called but they go down to the bedrock and put in metal jack stands, kind of) or they can do both.
I had a sinkhole repaired, lived there another year and then sold the home no problem.
You should be able to get a little better price and my thinking always was that once it is repaired your chances of getting another is wayyy lower than getting the first one. I know my home that was repaired sat on an extra 30 yards of cement.
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Old 03-17-2011, 06:10 AM
 
Location: Tampa
1,125 posts, read 2,305,152 times
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Once a house has been deemed sinkhole, it stays with that house forever (so I was told). Even if it has been repaired. The house may be insurable, but they may exclude any future sinkhole option. There is a house down the street that had 3 sinkholes repaired. A year later, they found more. Florida is full of sinkholes. Some areas are more prone to sinkholes than others. Pasco county has a large amount of sinkholes. Even parts of Pasco county has so many, that no insurance company will insure a home for sinkholes in those particular areas. Personally, I would never buy a home that had a sinkhole issue. Resale will be difficult, because you have to disclose this issue.
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