Quote:
Originally Posted by hook line sinker
Sink hole insurance....darn glad I had it. Last April cracks and wall separation were forming in our six year new designer home. Our insurance adjuster suspected sink hole damage. He contacted a engineering firm. We finally received the complete engineers report this mid November. Unusual as it may sound, the report advised against attempting to repair (pier/grout) the structure as the cost would most likely exceed the value of the house. The insurance company quickly made the settled. Despite my effort, TV was not interested in taking back the house. Citizens got the check. I found an investor, he got a deal. Citizens got the best part of that check. Too! Six years ago The Villages caught me by hook, line, and now sinker. I would be much worse off had it not been for the insurance.
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If you had not had sink hole insurance, you would be on the hook for the total cost of repairs since the house was never condemned, meaning your property insurance would not pay for the damage...correct?
What's to prevent the investor who bought the house from turning around and selling it to some unsuspecting buyer?