Sinkhole Disclosure Laws in Florida
When buying a new home, it is important to be aware of anything on the property that could be potentially dangerous to you and your family. A sinkhole is one of these potential dangers. Sinkholes are depressions or holes in the ground that are caused by the collapse of a surface layer of soil. These holes can vary greatly in size and depth. Small ones may cause foundation problems, while larger ones can lead to the collapsing of an entire structure. This is why it is important to know whether or not the new home you are considering buying is built on property that is susceptible to develop one or more sinkholes.
In the state of Florida, there is a statute that requires sellers and landlords to disclose the potential for sinkholes in an area before the closing of a sale or lease. This type of statute is called a disclosure law and is put in place to make sure the buyer is aware of any risks they might be taking when buying the property.
Buying a Florida Home
If you are buying a home in Florida, check the real estate seller’s disclosure form for a sinkhole disclosure statement. It is important to check the form because sometimes, the sinkhole statement is overlooked. If this is the case, be sure to ask about the potential for sinkholes. A lawyer may also be able to help you draft something that is legally binding.
Failure of the seller or landlord to disclose the potential for sinkholes can render the sale or lease void. If you are buying a new home in Florida, don’t take any chances; ask about the potential for sinkholes. However, if you do end up buying a home that develops a sinkhole, contact Foundation Professionals of Florida immediately. We offer a variety of services for sinkhole repair.
I was sold a sinkhole property four years ago. Now I’m trying to sell it and learn that it has an h repaired sinkhole going back to 2003. Do I have options to recover damages since it is now worth less than I paid for the property?