Frequently asked questions about sinkhole homes. Sinkhole FAQ.
FREQUENTLY ASKED QUESTIONS FAQ ABOUT SINKHOLES.
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These are answers to frequently asked questions FAQs about sinkholes, sinkhole damaged homes, & the services we offer. If you do not see an answer to your question, simply call or email us and we will do our best to help you out. If you need assistance with a sinkhole inpsection, attorney, public adjuster, or sinkhole buyer, feel free to contact us as well. We can help you with your sinkhole problems. Read the sinkhole facts below.
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Q: How do I know if my home has sinkhole damage or if it just has normal settlement cracks?
A: The only way to truly know if you have sinkhole activity on your home is to have your property evaluated by an engineer that specializes in sinkholes. Nearly every home will have some settling occur to it over time due to changes in the soil and being in the weather so just because you have a crack or two or even a few potholes in your yard does not mean you have a sinkhole.
Q: What are the signs of a sinkhole?
A: Typical sinkhole signs are newly formed holes in the ground; stair step cracking in the concrete blocks; sloping floors; separations between the ceiling, walls, floors; cracks over door and window frames; windows and doors that do not close properly; doors that swing / open on their own; cracks in ceilings, walls, walks, and driveways. Please check out our Photos page and our Videos page to see some real-life examples.
Q: What happens if your house has a sinkhole? What should I do?
A: If your home is severely damaged or a large hole has formed on your property, you should probably call 9-1-1 and get everyone out of the house right away. But assuming things are not that bad, then your next step would be to locate your homeowner's insurance policy and then contact your insurance company. Your insurer will then send professional engineers to the property to take soil samples and evaluate your house.
Q: How much does it cost to fix sinkholes?
A: The costs can very greatly depending on what a geotech engineering report uncovers. The repair cost will depend on how large your home is and thus how many pilings need to be installed under your home's foundation. Additionally your home may need grout injections to fill any cavities or holes that may have opened up either above or under the ground. Then any structural cracks and above-ground damage needs to be repaired as well. These costs can easily add up to many tens or even hundreds of thousands of dollars which is why many home owners opt to keep their isnurance proceeds and sell to an investment company that specializes in fixing sinkhole damaged homes.
Q: My insurance company is being difficult and fighting with me over my claim, what should I do?
A: If you do not think you are being fairly dealt with, you may want to contact a sinkhole attorney or a public adjuster to help you in your negotiations. You are welcome to call us and we can put you in contact with someone who can help you settle your claim quickly and fairly.
Q: The house next door to me has a confirmed sinkhole on it, how does this effect me?
A: Normally any home located within 100 feet of a confirmed sink hole will be noted in the CLUE reports of all insurance companies. This can greatly affect your insurance rates. It can also greatly reduce the value of your home. Check your home over carefully to make sure it is not showing tell-tale signs of sinkhole damage as well. If you do see damage, you should probably contact your insurer.
Q: How do I know if my neighborhood is prone to sinkholes?
A: The State of Florida does have sinkhole maps https://fcit.usf.edu/florida/maps/galleries/sinkholes available publicly for anyone to view. Additionally you can go to https://www.floodinsights.com/sinkholes.html and https://sinkholeassistant.com to use their paid services and check as well.
Q: What sort of offer price can I expect from you regarding my unrepaired sinkhole home?
A: Obviously we will need to buy your unrepaired house at a substantial discount. Typically the most we can pay for an unrepaired house is 70% of the retail (repaired) value minus the repairs. So if pre-sinkhole your home was worth $200,000 and now it needs $100,000 in repairs to stabalize it and patch it up, then the most we can pay is $200,000 * 70% = $140,000 - $100,000 repairs = $40,000 . These numbers are just a rule-of-thumb though. We can often pay more if you can assist with seller financing until we resolve the repairs and handle the situation. We cannot give you a firm quote until we review your engineering report and physically see your home.
Q: Will you buy my remediated sinkhole home?
A: Yes. If your sinkhole home has been remediated, then we can pay you much closer to market price for the home. Our offer price in this case would depend on the quality of the remediation and the amount of other repairs the home may need to get it into retail condition.
Q: What sort of other contract terms should I expect from you when you purchase my home?
A: Our typical offer is using a Florida Realtor standard FAR/BAR As-Is contract. We buy your home in as-is condition. You pay no closing costs or commissions to us. (If your house is listed with a Realtor, you will be obligated to pay them as long as your listing is active.) Your only responsibility would be to payoff any mortgages, liens, or unpaid taxes. Assuming a title and lien search comes up clear, we can normally close in 14 days. If you need more time, we can close on a date that is convenient for you. You are also welcome to leave behind any personal property that you need and our professional crews will handle cleaning out the property.
Q: Where do you buy properties?
A: We buy homes anywhere in the Southeast United States including Florida, Georgia, Alabama, South Carolina, and other nearby states. In the past we have purchased or inspected homes in Orlando, Kissimmee, Tampa, St Petersburg, Ocala, Lakeland, Deltona, Apopka, Altamonte Springs, Winter Springs, Lake Mary, Winter Park, Clermont, Leesburg, Winter Haven, New Port Richey, Spring Hill, Gainesville, Tallahassee, Dothan, Mobile, Valdosta, Waycross, to name a few places.
Q: What type of properties do you buy?
A: We buy single-family homes, condominiums, townhouses, mobile homes on owned land, multi-family buildings, and commercial properties.
Q: Tell me who you are and why I should trust you.
A: We are experienced investors who buy, lease, and sell real estate. Our owners have been in the real estate business for over 30 years. Our princpal, Rob Arnold, has had a Florida real estate broker license since 1996. Since that time we have been involved in hundreds of real estate transactions. We are definitely not some fly-by-night operation. We have an A+ rating as an Accredited Business with the Better Business Bureau of Central Florida. We can provide further references upon request.
Call or text: 407-739-5773
Questions about sinkhole homes. Florida sinkhole FAQs. Signs of a sinkhole. Sinkhole facts. Sell your house for cash with unrepaired sinkhole damage. Sink hole property is damaged but i can buy it fast. We buy sinkhole homes.