tv sinkholes
 

there is an article and picture in my paper here in connecticut today of a huge sinkhole in the orlando area consuming a whole building. what are the odds of that happening in tv? can you get insurance for this? thank you.

The type of sinkhole that took up part of a resort complex in Clermont is called a catastrophic ground collapse. If that happens on your property and all or part of your house is swallowed up, your homeowners insurance will cover it.

If the sinkhole is gradual and cracks your foundation and walls gradually, you will be covered only if you have the separate sinkhole coverage option. The companies offering it are few and far between. You may get it but the deductible will usually be 10% of the home value.

Could it happen in The Villages? Dang, who knows? All of Florida is located over limestone karst and when the underground sand collapses or is washed away, the holes do appear.

Happens every year in The Villages.
Especially after a very dry winter, followed by a wet summer.
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There was a small one this week that closed the 4th green on Havana's Kilimanjaro golf course. There have been several sinkholes in TV over the past few years and a large one nearby in Leesburg that swallowed a parking lot near 441/27.

have the several sinkholes affected homes in tv or are they out in fields?

Overdevelopment widens Florida sinkhole problem - NBC News.com


This recent article claims that all the overdevelopment, such as is going on in The Villages, is causing an overabundance of sinkholes in Florida.

About 10 years ago a sinkhole emptied all of the water from a large pond on the Briarwood executive course. Because the deeds of the facing residents said they had waterfront property, The Villages was required to fill the sinkhole and line the pond with plastic before refilling it. It happened again and was repaired again. The pond has remained stable since the second repair. My understanding is that deeds no longer carry the "waterfront property" designation. Since then there have been at least two Villages homes I am aware of which have sustained minor damage. One damaged some lawn and a patio. The other did some wall damage. Neither incident was considered very serious, and I doubt the homeowners got much help for the problems even if they had sinkhole insurance. If you can find a company to write a policy the deductibles are high. If a home is declared a total loss, I believe it is state law that full insurance coverage must apply.

We live in the villages and had a sinkhole in our front yard. Only minor damage to our house but have seen others here that have had more significant damage. Fortunately, we had sinkhole insurance with a $500 deductible. The amount of surveying and work done to our lot was incredible and I feel that our lot is the most stable in our neighborhood. It's a scary situation to go through!

Do you have to reveal when you sell your home that you once had sink hole damage?

I think the declaration statement will lead you to have to reveal it.....why not?

btk

I don't think that I would ever buy a home knowing that it once had a sink hole.

Sink holes are not caused by development. "Google" SINK. HOLES IN FLORIDA. The Florida geological survey has excellent web sites explaining exactly how sink holes occur. They also have a published map for the state showing each county and portions. The map is color coded to show the risk of sinkholes and the type. Sumter county is reasonably safe, but no area is completely safe. Remember "reasonably" is "relative".

Never buy a home if it had a sinkhole? Better read up on it. If the sink hole was repaired, meaning it was preferable, then the likelihood of further damage is far less than in other places. It is extremely expensive to repair sinkhole damage, but it is thorough.

I agree, but in reality, I think most folks would just turn and run. I think you would have a hard time recouping the true value of your home. People are not well educated in sink holes, and overall stability of their property after the repair.

Agreed
 

We went to an open house and the agent was trying to down play the fact that there was sinkhole damage to the foundation. As soon as I heard that I turned around and followed the other three couples out the door before we even looked at the rest of the house. The agent wasn't hiding it though and I am sure it was because of disclosure laws.