??? Sinkhole Property Mortgage and Insurance??
Hello, I have a couple of questions, we are looking to buy a home that had a sinkhole. It has been repaired and the engineer's report is available to us (though I haven't seen it yet). I can get homeowners insurance for the home itself through Citizens (we are in Florida), but it will not cover sinkholes.
IF the mortgage company says ok and we do go ahead with the purchase, what is the likelihood that another sinkhole will open up and is there anything we can do to prevent it?
The home was last sold for $210,000.00 and is now priced at $107,000. I am going to see it this afternoon, so ANY help is more than welcome.