It's not a sinkhole but.......

[JoMar]

When we moved to Hillsborough in September of last year there was a "depression" at the corner of Hillsborough and Valiant Ct. Every couple months the "depression" reappears. Went past today and there was an approx 10" hole in the road with red and yellow cones directing traffic around it. Just returned and now there are workmen there again, manhole cover removed, vent hose in the manhole and everybody looking into the hole. After 10 months one could hope they can figure out what that "depression" really is or isn't and fix it.

[NYGUY]

When we moved to Hillsborough in September of last year there was a "depression" at the corner of Hillsborough and Valiant Ct. Every couple months the "depression" reappears. Went past today and there was an approx 10" hole in the road with red and yellow cones directing traffic around it. Just returned and now there are workmen there again, manhole cover removed, vent hose in the manhole and everybody looking into the hole. After 10 months one could hope they can figure out what that "depression" really is or isn't and fix it.

Here is a thread from last year about the same hole....the saga lives on....I have to believe no one wants to spend the money to really fix this issue!!

https://www.talkofthevillages.com/forums/villages-florida-general-discussion-73/hillsborough-trail-132127/?highlight=hillsborough+trail

[NYGUY]

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[CathyandSteveG]

I just found out today that the house we are seriously thinking about buying next week has a disclosure statement on it. It is one of four houses at an intersection that had a depression in it. I was told the depression was pumped full of concrete and there should be no issue. So i called about insuring this home. We can get catastrophic sink hole insurance but we cannot get gradual sink hole insurance.

Should i turn tail and run now?

[SouthOfTheBorder]

I just found out today that the house we are seriously thinking about buying next week has a disclosure statement on it. It is one of four houses at an intersection that had a depression in it. I was told the depression was pumped full of concrete and there should be no issue. So i called about insuring this home. We can get catastrophic sink hole insurance but we cannot get gradual sink hole insurance.

Should i turn tail and run now?

Very few, if any companies, sell "gradual sink hole" coverage. So most of us are in the same boat.

What advice did you get from the agents you talked to?

Generally, the depressions near road manholes are associated with sewer/drainage pipes, (Hillsborough Trail for example) and are not the "normal" sinkholes that we all dread to hear about.

Don

[CathyandSteveG]

well that makes me feel a little better. The agent i talked to lives in TV...and she assured me nothing will happen.

I will tell you this.....i pay almost 4 times the price i was quoted today for my current house with a higher deductible. I was shocked!

[capecoralbill]

I will tell you this.....i pay almost 4 times the price i was quoted today for my current house with a higher deductible. I was shocked!
....................I'm mixed up, four times what?

[CathyandSteveG]

sorry i guess i did not make that clear....the rate i pay for the insurance on my present home in Missouri is 4 times higher than the price i was quoted today for insurance on the home in TV near the depression.

[Topspinmo]

Coming from tornado ally (okieland) I also found insurance much cheaper here too. So that's plus I got house & sink hole insurance, car, scooter, golf cart, and flood insurance cheaper or the same than just home insurance in my last state.

[WhoDat]

Same here. I paid about $3,800 on my previous house in Louisiana and here it is about $970. But for disclosure, I was in the New Orleans area during Katrina and the rates went up considerably after that.

[rjm1cc]

I just found out today that the house we are seriously thinking about buying next week has a disclosure statement on it. It is one of four houses at an intersection that had a depression in it. I was told the depression was pumped full of concrete and there should be no issue. So i called about insuring this home. We can get catastrophic sink hole insurance but we cannot get gradual sink hole insurance.

Should i turn tail and run now?

It is hard to get gradual and you probably could not get it before the incident.
Ask the seller to pay for an engineering study to verify that there are no current problems.

[CathyandSteveG]

it is a new home.....

[capecoralbill]

This is like charades, I pay approx. 1000 a year in the villages on a 250,000 house, no optional sinkhole ins. In the Niagara falls ny area I pay abut the same for a house worth twice as much.
So, Cathy and SteveG whats the home value and ins quote for the village house?

[pbkmaine]

Won't the new home have sinkhole coverage from the Developer for a number of years?

[CathyandSteveG]

i have no idea if sink hole coverage is included in the warrenty.......i will find out more next week. We may be driving down to look at the house and make the decision to purchase.

of course...it could have a contract on it by next week....and if it does...it was not meant to be

[Skybo]

This is the first I've heard of "gradual" sinkhole insurance. To my knowledge, there are two distinctions when it comes to sinkholes. First is catastrophic ground collapse insurance. By Florida law, insurance companies have to offer that coverage. To meet the requirements of "catastrophic ground collapse" the house has to be declared uninhabitable or condemned. The other is sinkhole insurance. That could include anything from from a giant sinkhole in your yard (that doesn't affect the structure of your home, but may cost thousands to repair) to major cracks in your drywall or foundation.

Some, but not all, insurance agencies offer sinkhole coverage. Of the insurance agencies that do offer sinkhole coverage, most only offer it to new homes. I've heard there are companies who offer sinkhole coverage for resales, but I don't have personal knowledge of that. The deductibles range from 10-20% of the home's value down to a flat $500 deductible.

The builder's warranty does not include protection against sinkholes.

[Skybo]

Won't the new home have sinkhole coverage from the Developer for a number of years?

PBK, A Builder's Warranty does not cover "acts of nature". A sinkhole is considered unpredictable, as are lightning strikes, tornados, etc. A Builder's Warranty in TV, just like everywhere else in the country, covers structural integrity of the home, workmanship, and supplies (such as shingles, drywall, flooring), etc. it does not protect you from Mother Nature. And in central Florida, sinkholes are a risk that you take.

[elizabeth52]

I just found out today that the house we are seriously thinking about buying next week has a disclosure statement on it. It is one of four houses at an intersection that had a depression in it. I was told the depression was pumped full of concrete and there should be no issue. So i called about insuring this home. We can get catastrophic sink hole insurance but we cannot get gradual sink hole insurance.

Should i turn tail and run now?

If it were me, I would. Why start out with a new home that already has a known issue. I would think that it would also affect the resale value given that the disclosure
will always be part of any sale of the home.

[cmj1210]

I just found out today that the house we are seriously thinking about buying next week has a disclosure statement on it. It is one of four houses at an intersection that had a depression in it. I was told the depression was pumped full of concrete and there should be no issue. So i called about insuring this home. We can get catastrophic sink hole insurance but we cannot get gradual sink hole insurance.

Should i turn tail and run now?


Cathy you can ask your agent for an Engineers report. We were in the same situation last year but we opted not to purchase the home. I sleep better at night knowing there are no issues. We also felt that if we ever decided to sell this may be an issue as you would also have to give full disclosure to the potential buyers. Good luck on whatever you decide. Only you know what's best for you.

[rubicon]

sorry i guess i did not make that clear....the rate i pay for the insurance on my present home in Missouri is 4 times higher than the price i was quoted today for insurance on the home in TV near the depression.

It is difficult to compare apples with apples in different geographical locations. I moved down from the Minneapolis. I had substantially more house in MN and my cost for insurance (Homeowners is much higher here) with the same insurer in both places????????????????

[CathyandSteveG]

I think we have decided to pass on this particular house...it breaks mt heart...it was exactly what i want....

when this process started i vowed that i would "listen" and not be emotional....and would be logical and i was open to the "right" time.

this was a red flag.....i cannot wish it away....i can choose to "listen" like i said i would...
So my honey and i talked and talked....and i think we pass.

Ms. Gracie was right when she said to me...there will always be other houses in TV.

thank you all for your input help and suggestions.

[cmj1210]

I think we have decided to pass on this particular house...it breaks mt heart...it was exactly what i want....

when this process started i vowed that i would "listen" and not be emotional....and would be logical and i was open to the "right" time.

this was a red flag.....i cannot wish it away....i can choose to "listen" like i said i would...
So my honey and i talked and talked....and i think we pass.

Ms. Gracie was right when she said to me...there will always be other houses in TV.

thank you all for your input help and suggestions.


Cathy best of luck you will find the perfect house for you.

[rjm1cc]

I just found out today that the house we are seriously thinking about buying next week has a disclosure statement on it. It is one of four houses at an intersection that had a depression in it. I was told the depression was pumped full of concrete and there should be no issue. So i called about insuring this home. We can get catastrophic sink hole insurance but we cannot get gradual sink hole insurance.

Should i turn tail and run now?

If this is a new house from the builder I would not buy it. I was thinking this was a resale in my last post.