Sinkholes and Insurance Concerns for Homeowners in Florida
Sinkhole activity impacts the value of a house. In fact, the fair market value for a property affected by a sinkhole is generally between 20 and 30 percent lower than property without sinkhole activity. If you are purchasing a sinkhole property that has not been repaired, you will likely get a good deal, but it is important that you understand what you are getting into.
At Corless Barfield Trial Group, we provide straightforward and insightful advice to families and business owners looking to buy properties affected by sinkholes. Ted A. Corless will sit down with you during a free consultation and give you the information you need to make an informed decision. If you have already purchased property and have just discovered it is damaged by a sinkhole, we can help you collect financial compensation from your insurance company.
How Costly Are Repairs?
Repairing a sinkhole property is expensive. The average cost of fixing a sinkhole-damaged home runs $100,000 to $150,000. However, even after making those costly repairs, the home can sustain further sinkhole damage.
My New House Has Sinkhole Damage
Purchasing a new home is something to celebrate. Discovering that your new home or business property has been damaged by sinkhole activity can be crushing. While sellers are obligated to disclose any sinkhole damage information to potential buyers, they often do not do so, leaving people like you to deal with serious problems.
Further, insurance companies are not obligated to pay a claim if sinkhole activity was confirmed at that location at an earlier date, prior to the sale.
Florida Lawyer Answering Sinkhole Questions
Buying unrepaired Florida sinkhole damaged homes presents significant challenges. At Corless Barfield Trial Group, our Tampa lawyer has extensive experience handling sinkhole damage claims. Not only do we understand the legal ramifications of sinkhole damage, but we also understand the technical aspects of these issues.
For answers you can rely on, contact us online or call 813-498-1623 or 877-517-5595 to schedule a free initial consultation. We answer phone calls 24 hours a day, 7 days a week. Evening and weekend appointments are available by request.
Our law firm handles sinkhole claims on a contingency fee basis.