Quote:
Originally Posted by LadyDi47
Just made an offer on a house for sale that was a sink hole property that had been repaired by an engineering company. We proceeded to try and get insurance on the property and were told that they would try and find an agent. An agent contacted us and said that she might possibly find someone that would insure us with a homeowner's policy but that it would be about 3X higher and it would not be a sink hole policy but the house would be covered for sink holes under catastrophic coverage (house uninhabitable). She also told us that we could be dropped at anytime. I talked to the Florida Board of Insurance and was advised that I should walk away from the contract. Evidently The Villages does not report the sink holes to the State. The person I spoke with said that many people have bought property before they checked on insurance. We really want to move here but now we are having second thoughts. Needless to say, we walked away from the contract. Still looking!
|
Why tempt fate by buying a sinkhole property?
Resales are plentiful within TV and new homes qualify for sinkhole coverage.
Good luck with your search.