[Retiring]

If I do decide to spend my retirement at TV, I am more interested in building a new home vs buying an existing home. I would not consider purchasing a lot without a comprehensive sinkhole inspection. I understand these inspections can run $5-10k but that is something I am willing to spend for peace of mind. At this point I don't know how the developer handles this type of pre--purchase request. I realize if the inspection comes back very negative, the lot becomes worthless so he may not permit this type of contingency.

Has anyone had such an inspection, and would you mind sharing your experience? Thanks.

[outahere]

I have not done that type of inspection, but when we purchased our home (new, but already built), we were told that they do not allow any changes/contingencies to be added to the contract. They may have changed in the past two years, but I wouldn't count on it.

[bluedivergirl]

We bought in January, 2015. The real estate market and general practices here are completely different than anywhere else we have purchased.

The don't do contingencies and they don't negotiate. Sometimes they don't build. You purchase what they have already built, or go elsewhere.

Regardless, we purchased and have been here since April ~ quite happily, too.

[JoMar]

They did have a program that you could purchase a lot but would have to build within 90 days and then you are limited to the type of home that fits that lot. They don't modify and the only choices you might have is floor coverings, counter tops and cabinets. We have a friend here that purchased and they built the house and now he is rebuilding the inside to suit him before he moves in. That's the option if you don't like the layout. They do things differently in The Villages.

[Polar Bear]

Odds of finding a sinkhole are slim. Not zero, but slim. And sinkhole inspections are not foolproof. But if one would be found, it can usually be "fixed". The lot would not be worthless.

[NYGUY]

To be absolutely clear, The Villages allows no contingencies. After you have bought, you can do as many inspections as you want.

[dewilson58]

With a new home, you can get insurance.

[surgees]

I agree with dewilson58... we purchased a new home recently and got the sink-hole insurance.

The others are also very correct... they do things veery differently down here! In our experience it is a very good process and everyone involved is dedicated to making your purchase a quick, well controlled and executued process with your benefit foremost in their mind.

[Sandtrap328]

Remember that there is a huge difference between a sinkhole and the event that captures the media attention called "catastrophic ground collapse".

The sinkhole is a gradual sinking of an area and can be devastating to your house but is a very gradual sinking. Insurance is difficult to get on sinkhole coverage because people were making claims on their house just setteling.

The catastrophic ground collapse is the sudden opening of a large hole and could be many feet deep. These are the ones that swallow a car or something. All Florida homeowners policies cover for those events.

Check with Sandy Manion at Villages Insurance. She is very good at explaining all coverages and exactly what they mean.

As for buying a new home in The Villages, you cannot ask for contingencies or negotiate the price. Check out resale homes!! Lower bond, negotians are possible, add-ons already in place, mature landscapes, and no surprises at what be built close to you.

[CFrance]

Originally Posted by Sandtrap328

Remember that there is a huge difference between a sinkhole and the event that captures the media attention called "catastrophic ground collapse".

The sinkhole is a gradual sinking of an area and can be devastating to your house but is a very gradual sinking. Insurance is difficult to get on sinkhole coverage because people were making claims on their house just setteling.

The catastrophic ground collapse is the sudden opening of a large hole and could be many feet deep. These are the ones that swallow a car or something. All Florida homeowners policies cover for those events.

Check with Sandy Manion at Villages Insurance. She is very good at explaining all coverages and exactly what they mean.

As for buying a new home in The Villages, you cannot ask for contingencies or negotiate the price. Check out resale homes!! Lower bond, negotians are possible, add-ons already in place, mature landscapes, and no surprises at what be built close to you.

And you could probably put a contingency in that the property has to pass a sinkhole/catastrophic ground collapse inspection. Although you won't be able to get insurance against sinkholes on an older home.

[Polar Bear]

Lots of good info in this thread. But one minor clarification...

A sink hole is basically the end result of catastrophic ground collapse. A sink hole can form gradually or suddenly. Either way, it is still a sink hole.

[jnieman]

This may be of help. What is the difference between "Sinkhole" and "Catastrophic Ground Collapse"

The difference between sinkhole activity and catastrophic ground collapse

[Retiring]

The sister of a close friend had a sinkhole (Orlando suburb), swallowed a swimming pool and corner of the house. It was instantaneous and deep. Had the collapse been below her bedroom or one of the kids bedroom…

I haven’t spoke to anyone at TV sales office, but it looks like I will not be moving to TV if no pre-purchase testing permitted. I simply cannot buy ANY lot in central FL without a sinkhole test. This really isn’t about insurance, it’s about not having to sleep with one eye open. I do appreciate all the replies. Thanks.

[rjm1cc]

Originally Posted by Retiring

The sister of a close friend had a sinkhole (Orlando suburb), swallowed a swimming pool and corner of the house. It was instantaneous and deep. Had the collapse been below her bedroom or one of the kids bedroom…

I haven’t spoke to anyone at TV sales office, but it looks like I will not be moving to TV if no pre-purchase testing permitted. I simply cannot buy ANY lot in central FL without a sinkhole test. This really isn’t about insurance, it’s about not having to sleep with one eye open. I do appreciate all the replies. Thanks.

Take a look at On Top of The World(Ocala). Best I can tell they test the building lots before they build. Not sure what the test tell them but you could call the sales office and ask. When you buy sinkhole insurance you have to pay a fee to have the property inspected (?) by the insurance company. Cost is about 150. I would check with a local insurance agent. My guess is the inspection is superficial and just seeing that there were no sinkhole in the area.

[Retiring]

Just spoke to TV sales office, had several questions answered. Like it was said here in this forum, they do not permit pre-purchase sinkhole testing. Not the very basic $150, or the $10k comprehensive geological survey.

My search for a future retirement community continues. Thanks to all that have replied. No shortage of good people at TV.