Chance of selling my sinkhole repaired home in Spring Hill (Safety Harbor: for sale, rental)

[floridagirl777]

Hello! My family and I are moving from Spring Hill, FL to Safety Harbor, FL in June and are preparing to put our home on the market. It had a sinkhole several years ago, but we chose to repair it rather than cash out. We have an extensive engineer's report stating both the interior and exterior have been repaired. Obviously in this market, we aren't expecting to get what we paid for out of the sale. We just want to sell it for what we have left on the mortgage.

My question is, do you think someone will be more apt to purchase a sinkhole repaired home or one where sinkhole activity is unknown? A friend of mine works for a realtor and she told us that repaired sinkhole homes are becoming more desirable because of the crazy amount of sinkhole activity in Spring Hill, but I wanted to see what others had to say.

Thanks in advance!

[FloridaKash]

When I was out shopping for a home, I don't think I would have purchased a home that had sinkhole damage repaired. I don't think DW would even consider it.

[LKJ1988]

Better chance of snow in July.

[crazynip]

I dont think you even need to disclose it if it's been longer than a certain amount of time. I think that is 7 years.

[bentlebee]

You have to disclose it even if it is 20 years ago...!

There are people who don't mind buying a repaired sinkhole as an investment since they are cheap and they can use it as a rental and it will ay itself back.

Any one with a mortgage might have an issue since if their mortgage requires sinkhole coverage if they don't require it than it shouldn't be an issue.

In Pasco County you can see on the property appraisers website which house has a sinkhole and which doesn't have one...I don't know exactly when they started to record that but for the last couple of years we can see it and in the public records you are also able to see it.

There are people who can't sell their house without any sinkhole issues and in the end it all comes down to what your home looks like, location and very important a reasonable listing price. Good luck!

[Mike1306]

You can certainly sell it and while you will generally get 5-10% less on average than a similar home that never had a sinkhole, there are more people that are looking upon repaired sinkhole homes in a better light. There are some that will not even consider a repaired sinkhole home though.
Make sure you have 3 or 4 agents some out and run comps for you if you plan on using an agent, if not just make sure you price it right from the get go.
Insurance should not be an issue either as the repair has been done.
There is some misinformation in this thread so make sure you do more research.

[Ken E]

Is it possible for a repaired sinkhole home to have more sinkhole problems in the future"

[jambo101]

With the multitude of homes for sale If i were shopping for a home i'd just as soon buy one that had no sink hole related history..

[Sunscape]

This is on the news today...

Sinkhole opens up at I-4 rest stop | wtsp.com

When these news appear, it must be hard to sell a house that has had sinkhole issues.

But I wish you luck!

[Mike1306]

Originally Posted by Ken E

Is it possible for a repaired sinkhole home to have more sinkhole problems in the future"

Possible but less likely to have another sinkhole than a house in the same area which has never had one repaired. There are voids under a good many homes that have not been investigated and may never have problems but after pumping 30-40 truck loads of concrete (a little different from concrete but just for conversation sake) under a home, I would say it is sitting on a pretty good foundation.