Selling a home with sinkhole damage in Florida can be done but it isn't easy. You have two choices:
- Repair the home before presenting it for sale to a private buyer
- Think about selling to a "sinkhole-distressed investment company"
Yes, there are companies that will buy your home before it is repaired, and in many cases that can be a good option for you. Of course, the numbers have to add up or you might be better off attempting to repair the home. But after repairs are done you will have to disclose to any potential buyers that they are looking at "sinkhole property" even though the problem has been corrected.
What Should I Tell Potential Buyers About My Sinkhole Repaired Home?
A good approach to selling your home is to present potential buyers with a copy of the original report in which the sinkhole activity was discussed, and a copy of the completion certification of stabilization. This ensures that you have disclosed the investigation and repair and that the repairs were done per recommendation of the hired professional. Should you decide not to do the repair you will want to disclose that to the buyer. Should this be the case, you will need to document every step of the transaction carefully, providing them with all reports regarding the sinkhole and specify that the home is being sold as sinkhole damaged, and have them sign a document explaining that you have disclosed all problems to the new buyer.
Wells Law Group, of Central Florida, can help you make sure you don't miss an important step when selling your home. Mr. Wells alone has over 25 years of litigation experience and extensive experience with sinkhole damaged properties. We can walk you through the steps necessary to protect you and your finances. Call us today for a free case evaluation.