QUESTIONS;  

• How bad are Sink Holes ?  Depends, where they are, if they affect the structure and if active or not.
• Can they be corrected ? YES, there are several ways to correct Sink Holes.
• Can I receive the insurance money and keep it ? NO You must pay it to the bank, lender or any liens first or have the Sinkhole repaired and certified.
• Can I just fix it myself ? NO not unless you are certified and know how and have the equipment.
• How much do they cost to repair ? Depends on question #1 but from $10,000 to over $100,000.00
• How does this affect my properties value ? It hurts the value. Fixed and certified, about 10% to 30% loss in value.
• If not fixed, and I apply the insurance to the mortgage, whats it my home worth ? 40% to 70% of the fixed value.
• How do I choose a repair company ? After the claim, and report(s) you will be provided you must decide if you want to repair the home or apply the insurance funds to the loan(s), mortgages on the home and sell it. Then, obtain 3 or 4 estimates, review the cost and references and make an informed decision. Remember, your home will not be worth 100% of its value before the Sinkhole.
• Must I tell any Realtors, buyers or investors about the Sinkhole ? YES you must this is a FULL DISCLOSURE STATE, with strong laws, be truthful. Also, a Sinkhole is NOT the end of the world, the home has value, it  is repairable in 99% of the cases. You have options !
  
         

If the home is un-repaired, you will have extreme difficulty using it for a loan, you will not be able to purchase insurance with out many exclusions and additional cost, if at all and when you do sell it, please do not expect to receive full value, its not there !
But, you can have it repaired, if no activity occurs in several years, the value loss will decrease. If you decide to sell as is, you will need to find a CASH buyer, not one going to a bank, because they will not be very successful obtaining a loan on the property.

We work with several companies to inspect, repair and certify Sink Hole Property.
If your property is suspected to have issues or you are interested in selling or need a referral to a qualified company, please ask, we can help.
We also recommend Home Inspectors or Engineer's to inspect property if you have any questions before you purchase. If you are selling, "fair is fair" so don' be surprised if your retail buyer wants an inspection. Only knowledgeable investors should become involved in Sink Hole properties.

Contact Us:
Alternative Solutions
(727)-934-8000
(727)-934-8003 FAX
SINKHOLE@ALTERNATIVESOLUTIONSFL.COM