[JBWms]

Does anyone know what the situation is with the home on 3400 Galesburg Court? It's currently a foreclosure/bank owned home. The price has been cut $50K and the MLS G4818448 indicates "Home has been completed with the installation of situational underpins/improvement of soil compaction".

What happened? Was it a sinkhole?

Thanks

[graciegirl]

Originally Posted by JBWms

Does anyone know what the situation is with the home on 3400 Galesburg Court? It's currently a foreclosure/bank owned home. The price has been cut $50K and the MLS G4818448 indicates "Home has been completed with the installation of situational underpins/improvement of soil compaction".

What happened? Was it a sinkhole?

Thanks

According to sumterpa.com It was built/sold in 2001 for $153,000, and then sold again June of last year for 203,000 and is now owned by the bank. I don't know what the words about underpins and improvement of soil compaction mean. It could have been a sinkhole. Lot of folks say that fixing them is just that. Fixed. Why don't you ask the bank that owns it? Certainly Florida has disclosure laws. Or just find another house.

[villagetinker]

If you are interested in the property, call the realtor, they are required to disclose any pre-existing conditions and remediation. I am sure that if you get past the initial reply, you will be able to get a copy of the engineers report on the repair. If this was a sink hole, and you are still interested, then check with your bank (financing), and your insurance company on what insurance you can get, and the cost.

With all of this information you can make an intelligent decision on buying the house.

If this is just curiosity, you may be able to get some information on the sumter County website.
hope this helps.

[asianthree]

Doesn't pinning mean ground was compromised.

[graciegirl]

Originally Posted by asianthree

Doesn't pinning mean ground was compromised.

It sure sounds like it. But here is what I would do if I were looking for a home here;


If I saw anything I didn't like or caused me concern, I would keep right on looking.


Tons of choices. I wouldn't post on a forum to get this important information either. You get a lot of useful facts but if you say sinkhole, all reason leaves the building. Pretty soon we will be reading there IS a sinkhole at this time in the area. It is a very explosive and fearful word, sinkhole.

[VillagerFrog58]

Per the Sumter County permit site, a Job valued at $154,000 was done by EARTH TECH INC 2620 HUNT RD LAND O LAKES FL 39638 on this home in June 2010 for stabilization of the home, permit #BD2010-3925. You may call the contractor and inquire what was done at this address. Stabilization using means that settling / cracks were occurring and they had to do some serious work to stabilize the ground that usually includes drilling and inserting foundation rods down into the ground around the perimeter of the foundation. The final inspection and completion of the work was December 2010.

[justjim]

Originally Posted by VillagerFrog58

Per the Sumter County permit site, a Job valued at $154,000 was done by EARTH TECH INC 2620 HUNT RD LAND O LAKES FL 39638 on this home in June 2010 for stabilization of the home, permit #BD2010-3925. You may call the contractor and inquire what was done at this address. Stabilization using means that settling / cracks were occurring and they had to do some serious work to stabilize the ground that usually includes drilling and inserting foundation rods down into the ground around the perimeter of the foundation. The final inspection and completion of the work was December 2010.

With this information I would move on. However, if still interested the house can probably be purchased for much less and a "low offer" would likely buy this property. The Realtor/Broker is required to have the owner to provide full disclosure on this property and that would be very useful to see. Bty, what Village is this house in?

[John_W]

Originally Posted by villagetinker

...call the realtor, they are required to disclose any pre-existing conditions and remediation. I am sure that if you get past the initial reply, you will be able to get a copy of the engineers report on the repair..

Here's a similar situation where TV Realty didn't disclose major details twice, and said it was legal. Our CYV's were built in 2011, the unit next to ours was owned by snowbirds. After it had been vacant for the summer the owners came down for their winter stay and found the master BR and bath was flooded with water up on the walls. They contacted TV Warranty and they completely repaired everything. It was a 3 week job, that involved jackhammers into the slab, large fans running all day, cement mixers, new drywall, new vanity, carpet and tile, paint, and so on.

As soon as the job was repaired the owners put the home on the market. It had sold new for $163K, so the owners resold the home in a couple weeks through TV Realty and got $195K. When the new Canadian owners arrived a neighbor across the street greeted them and one thing lead to another, and he mentioned about the unit being flooded. The new owners were shocked and immediately called their realtor, they even contacted a lawyer. The TV Realty response was, the repairs were made by TV Warranty Dept and therefore did not meet the legal requirements to be disclosed.

The new owners immediately put the home on the market and it sold in two weeks for $215K. Deja Vu, the same neighbor greeted the new owners in the driveway and asked, what do you think? Anyway, the third owners are still there after two years and they seem to be happy with the home.