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What is a unrepaired sinkhole house worth.

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Sinkholes, and the After Repair Market Value of Sinkhole Damaged Houses

The sudden collapse of the ground under your feet is the stuff of nightmares. Yet sinkholes are very real. A sinkhole is a cavity, otherwise known as a hole, in the ground that is created by the combination of erosion and the drainage of water. They can be just a few feet across or large enough to swallow whole buildings. Although they’re often the result of natural processes they can also be triggered by human activity. It is extremely rare for a sinkhole to swallow up an entire house, however even some smaller ones cause significant property damage. In addition it is crucial for sinkholes to be repaired underground before they become worse. Some sinkhole homes do not have a void under them. The ground is unstable in not sufficient to guarantee the house will not shift and crack.

There are two basic types of sinkholes. Those that are created slowly over time are called a cover-subsidence sinkhole, and those that appear suddenly are referred to as a cover-collapse sinkhole. Naturally, it’s the latter ones that create headlines, but both varieties are formed by the same basic mechanism.

Sinkholes mainly occur in areas of land where soluble bedrock, such as limestone or gypsum, can be dissolved by water.

With cover-subsidence sinkholes the bedrock becomes exposed. It is gradually worn down over time, with the holes often becoming ponds as the water fills them in. The same process occurs out of sight with a cover-collapse sinkhole. Naturally occurring cracks, and or small voids underneath the surface are hollowed out by water erosion. A cover of soil or sediment remains over the top. Eventually, as the hole expands this cover can no longer support its own weight and suddenly collapses to reveal the cavern underneath. Unfortunately sinkholes are found throughout Florida and can be a real problem for many property owners.

If you are concerned with the un-repaired damage that a sinkhole has caused to your property, please keep in mind that we will purchase you house for the most money possible.

Many people are curious if there is a benefit to purchasing a fully repaired sinkhole property. The answer is a most definite yes, however it is extremely important that both the sinkhole itself and the house are fixed properly, and correctly documented. The repair process is so complicated that most homeowners would much rather sell the property, and rid themselves of the problems. Many sellers turn to us because they know that we will not only pay them the highest sales price, we will also provide them with much needed peace of mind.

How Do We Determine How Much To Pay For Sinkhole Houses in Florida?

We look at several factors in order to determine how much we can pay for houses damaged by sinkholes in Florida.

Sinkholes are extremely costly to repair. They require heavy equipment that is expensive to operate. The first factor we consider is to determine exactly what it will cost in order for us to repair the sinkhole that is located below the ground. It is also critical to determine and estimate the costs of stabilizing the area for the future.

The next factor we consider is how much the above ground repairs and updates will cost. The damages caused by sinkholes in Florida are not typically limited to one specific area. Often times there are major constructions repair and rehab costs due to the damage caused.

We also consider the aftermarket repair value of homes that are damaged by sinkholes. It must be noted that the aftermarket repair value is based on the current market value, not the potential future market value of the property. Un-repaired sinkhole properties are worth far less than the current market value of similar houses that do not suffer from sinkhole damage. We offers homeowners top dollar for their sinkhole properties.

We always ask the seller how much they believe their un-repaired sinkhole home is worth. Many homeowners use the amount that is printed on their property tax bill. In truth, the market value on a Florida homeowner’s real estate tax bill is for tax purposes only. They do not reflect that current market value in terms of what the property is actually worth. The proper method to determine a sinkhole home’s value, or any other property for that matter, is determined using the three methods listed below.

Sell your sinkhole house in Florida.

Sell us your unrepaired sinkhole home in Florida.

Chris Langee

(813) 545 5263

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