Sell your Florida unrepaired sinkhole damage house

By
Real Estate Agent with Sand Dollar Realty Group, Inc. BK627826
https://activerain.com/droplet/fFx

As you may be aware by now, our firm buys sinkhole damaged homes throughout the Central Florida area.  Whenever the ground underneath a home shifts even slightly, it can cause damage to the home sitting above it.  Our firm has been buying unrepaired sink hole properties in the metro Orlando area for almost 5 years now and we are interested in buying more. 

If your insurance company is giving you a hard time, we can help you find a public adjuster or attorney that specializes in these situations.  Florida law regarding sinkhole insurance recently changed, so you need to know your rights. 

The video on this particular house has some classic signs of sinkhole damage.  In fact a claim was paid out by the insurance company on this home just a few months ago.  Watch the video.  Large cracks in the driveway.  Stair step cracks on 2 different sides.  One of the cracks on the back corner of the home is large enough where I can fit my driver's license all the way into it.  On the inside you can see cracks in the ceiling, separation between the ceiling and wall in the kitchen, and it even has a gradual slope in the living room area.  Not to mention the doors that magically close all by themselves. 

 

If you have a sinkhole problem, we are here to help you.  We can pay cash or terms for your house.  If you are a real estate broker or Realtor, we pay referral fees on houses we buy.  Give me a call anytime even if you just want a little free advice on how to handle your sinkhole house.

We buy houses all over Central Florida including Orlando, Winter Park, Ocoee, Winter Garden, Apopka, Altamonte Springs, Casselberry, Longwood, Winter Springs, Sanford, Deltona, Debary, Deland, Clermont, Mount Dora, Leesburg, Ocala, Kissimmee, Davenport, Lakeland, and Winter Haven. 

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Topic:
Home Selling
Location:
Florida
Groups:
Investing in Real Estate
Florida Realtor® Network
Central Florida
Seminole County Florida
Florida Real Estate Investors
Tags:
we buy sinkhole house
sell sink hole damage house
sell unrepaired sinkhole house
sinkhole damage house

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Rainmaker
1,317,476
Joan Whitebook
BHG The Masiello Group - Nashua, NH
Consumer Focused Real Estate Services

I have not heard of this issue either.  What can be done when homes are being constructed to prevent this in the first place?  What can be done after the fact?  Interesting topic... I'll be back to learn more.

Jul 27, 2011 03:32 PM #6
Rainer
178,712
Rosalie Evans
Meritus Group Real Estate - Sioux Falls, SD
The Evans Group, Sioux Falls, SD Homes For Sale

I know what that we do not have sink holes in my area but now I am curious about them! So what do you do with all of the houses after you buy them anyway? And how is a sinkhole different then just plain settling?

 

Jul 27, 2011 06:01 PM #7
Rainmaker
335,592
Las Vegas Real Estate Agent Dawn Barrier
eXp Realty - Las Vegas, NV
South Las Vegas, Henderson, Summerlin Homes

Ahh, the old sink hole issues in Florida I remember them well.

Great video!

Jul 27, 2011 06:16 PM #8
Rainmaker
316,101
Sandy Acevedo
951-290-8588 - Chino Hills, CA
RE/MAX Masters, Inland Empire Homes for Sale

The  sinkholes we have in California are the ones caused by massive earthquakes. All are scary. Nice video.

Jul 27, 2011 07:11 PM #9
Rainmaker
1,360,046
Cheryl Ritchie
RE/MAX Leading Edge www.GoldenResults.com - Huntingtown, MD
Southern Maryland 301-980-7566
My first question or thought is when you buy them what steps does you firm take to repair and resell them? Interesting!
Jul 27, 2011 08:23 PM #10
Ambassador
1,951,882
Fernando Herboso - Broker for Maxus Realty Group
Maxus Realty Group - Broker 301-246-0001 - Gaithersburg, MD
301-246-0001 Serving Maryland, DC and Northern VA

Who is buying these homes?. . .please share the scripts that can overcome the fact that one shift and you can be in China. .is that part of the disclosure?

Jul 27, 2011 11:17 PM #11
Rainmaker
1,142,035
Bryant Tutas
Tutas Towne Realty, Inc and Garden Views Realty, LLC - Winter Garden, FL
Selling Florida one home at a time

Phil's comment reminds me of how local real estate really is. Sinkholes are quite common in our area yet he has not even heard of them.

You can't prevent sink holes. Florida sits on top of an aqua filter and sink holes can occur at anytime and just about any place. They are just a part of living in paradise. Along with hurricanes and bugs!!

Jul 28, 2011 12:05 AM #12
Rainmaker
1,370,277
Michael Setunsky
Woodbridge, VA
Your Commercial Real Estate Link to Northern VA

Rob, what do you do with the properties once you purchase them? I'm sure this has to be disclosed to potential buyers.

Jul 28, 2011 01:41 AM #13
Rainmaker
1,017,121
Rob Arnold
Sand Dollar Realty Group, Inc. - Altamonte Springs, FL
Metro Orlando Full Service - Investor Friendly & F

@ Mike.  Depends on the damage.  Some are worse than others.  This one is low-to-medium damage in my opinion.

@ Phillip.  Sinkholes are caused when underground voids collapse.  Kind of like an underground cave in.  What happens to the ground way up on the surface depends on how big the void is and how deep underground it is.  Most are relatively minor but I have seen several that turned the ground above into the size of a small pond.

@ David. Thanks.

@ Ann. We do 1 of 2 things with them.  We either fix them and then rent or re-sell OR we sell them to a contractor who ends up doing one of those.  Whenever you re-sell there are state mandated disclosures that must be provided to the buyer.  The repair process involves either pumping concrete underneath or driving steel reinforcing rods down to the limestone underground.  Here is a video of how to fix them: http://www.youtube.com/watch?v=8EMufIk1M4g

@ Aida. If you know the right people, these are not that difficult to get fixed or re-sold to.  Disclosure is key.

 

Jul 28, 2011 03:00 AM #14
Rainmaker
1,017,121
Rob Arnold
Sand Dollar Realty Group, Inc. - Altamonte Springs, FL
Metro Orlando Full Service - Investor Friendly & F

@ Joan.  Check out my response to Ann above.

@ Rosalie. Check out the video I posted in my response to Ann.  Sinkhole damage is typically more severe than just a few settlement cracks.

@ Dawn. Thanks.

@ Sandy. Most of the sinkholes here are caused by the ebb and flow of our underground water table - the Florida Aquifer.

@ Cheryl. Check out the video in my response to Ann above.

 

Jul 28, 2011 03:03 AM #15
Rainmaker
1,017,121
Rob Arnold
Sand Dollar Realty Group, Inc. - Altamonte Springs, FL
Metro Orlando Full Service - Investor Friendly & F

@ Fernando.  There is a very specific disclosure form that the State of Florida requires to be given to buyers.  Typically these properties end up getting sold to general contractors but the ones that have lighter damage sometimes we can fix and sell to homeowners.  Even after the house gets fixed it will never sell for full retail because of the potential for further settling.

@ Bryant. When I was a kid, I heard of the huge Winter Park sinkhole that swallowed an old lady's house and a Porsche dealership.  But didn't realize how extensive the problem was until a few years ago. Most of the sinkholes are much less dramatic but nevertheless they still damage homes.

@ Michael.  We either fix them, rent them, or re-sell to a general contractor.  The State of Florida has a very specific required disclosure.

Jul 28, 2011 03:07 AM #16
Rainmaker
481,097
Bruce Kunz
C21 Solid Gold Realty, Brick, NJ, 732-920-2100 - Howell, NJ
REALTOR®, Brick & Howell NJ Homes for Sale

Rob, Great information and video!  Here in NJ, about the only sink holes we experience are from water mains or storm drains leaking or where tracts were cleared and the trees and stumps just buried many years ago. Usually these don't affect houses but a few cars have been swallowed up over the years.
It is interesting that it's a naturally & regularly occurring thing in Florida.
Thanks for sharing. Bruce

Jul 28, 2011 03:43 AM #17
Rainer
49,032
John Davison
Coldwell Banker - Cary, NC
Raleigh-Cary-Triangle NC

Having lived in Orlando, I completely understand the importance of what you do.  Goodluck and keep on providing this valuable service.

Jul 28, 2011 04:20 AM #18
Rainer
145,746
Sarasota & Manatee Counties FL
SaraMana Properties - QuickFreeMLS.com - Bradenton, FL
QuickFreeMLS.com - Listings In Paradise

What if the client wants to keep the house, can they just sell the hole? ;-)

Jul 28, 2011 08:18 AM #19
Rainer
79,761
Jeff Getman
Realty Executives of Ravalli County - Hamilton, MT
Realty Executives

Well--they always say there's a buyer for anything. I'm surprised buyers would be very interested in something that could ultimately sink some more. You might fix the current problem but there's nothing to prevent a deeper cavity from collapsing later--is there? I'd think the risk would always be there.

Jul 28, 2011 05:46 PM #20
Rainmaker
1,017,121
Rob Arnold
Sand Dollar Realty Group, Inc. - Altamonte Springs, FL
Metro Orlando Full Service - Investor Friendly & F

@ Jeff. The proper way to fix one is to put the steel rods in all the way to the hard limestone rock beneath.  That way the house will never sink supposedly. Regardless though even after they are fixed, the best you can typically sell them for is maybe 80% of the going rate in the neighborhood.

Jul 29, 2011 02:30 AM #21
Rainmaker
671,701
Sandy Shores FL Realtor®, Melbourne Real Estate
M & M Realty of Brevard Inc. - Melbourne, FL
Brevard County Real Estate, Florida's Space Coast

Rob, Central Florida and sinkholes... This is good info to have, since people hear the word sinkhole and typically run as fast as they can in the opposite direction.

Jul 29, 2011 04:11 AM #22
Rainmaker
845,965
Marco Giancola
Beachfront Realty - Miami Beach, FL
Realtor (305)608-1922, Miami Beach Florida

Good morning Rob, watched the video and now I have a name for that crack on block houses (stairstep)thx for that. Also-so curious what you do with these houses.

Jul 31, 2011 11:37 PM #23
Anonymous
Tammy

Hi. Do you rent unrepaired sinkhole homes in Florida is the damage is not that bad?

May 03, 2012 12:11 PM #24
Rainmaker
1,017,121
Rob Arnold
Sand Dollar Realty Group, Inc. - Altamonte Springs, FL
Metro Orlando Full Service - Investor Friendly & F

@ Tammy.  It depends on how severe the damage is.  But typically we don't rent them out unless they are repaired.

May 03, 2012 10:43 PM #25
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Rainmaker
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Rob Arnold

Metro Orlando Full Service - Investor Friendly & F
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