Selling A Sinkhole Damaged Home
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 it “as is” to a “sinkhole-distressed investment company”
Yes, there are companies that will buy your home before it is repaired and, in some cases, this 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 to forgo repairs, 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 all reports regarding the sinkhole and specifying that the home is being sold as sinkhole-damaged. Have the buyer sign a document that says you have disclosed all problems.
How We Can Help You Sell Your Damaged Home
Wells Law Group, P.A., can help you make sure you don’t miss an important step when selling your home. Attorney Kim Wells, the founding lawyer at our firm, has decades of litigation experience and extensive experience with sinkhole-damaged properties. We can walk you through the steps necessary to protect you and your finances.
To schedule an appointment with attorney Kim Wells, call our law office in Tampa at 813-413-7377. Online case evaluations are available as well. We pride ourselves on answering your communications in a timely manner and you will always work directly with our managing attorney and an experienced paralegal.