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Old 08-03-2006
lee_bert lee_bert is offline
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Join Date: Aug 2006
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Default sinkhole,verified, now the waiting game.

I have put in a claim 4 a sinkhole do to the buyer who was buying our home backed out because in the contract we signed with him said if their where sinkhole problems he would not buy the house that was the second contract what happened with the first contract on the home is the ppl never told us y they backed out but they paid us the money they put down but when i first did the first contract the ppl asked us to move be4 closing said no problem we are going to buy your home then he came up with they could not insure it but did not tell us y. so they backed out. then we signed with another person they had an inspector come out an tell them 2 days be4 closing that we have strutual damage do to possible sinkhole activity.
so instead of signing another contract we put in a claim with our insurance company they now have had all sinkhole test done and confirmed by e-mail to them from the testing company,saying it is a sinkhole and they called us and they are waiting 4 the engineers finale report, im gussing on how big or somthin it is or if could be fixed not sure ?.....
so what im asking is do we have to have them repair it or can we get our
policy limits payed do to we had it sold?, and the sinkhole is what put us in this possition in the first place. we do have private ins. not state pool
does that make a diffrence because roomer has it they are only repairing and only given the policy holder approx. 10,000.00 to due repairs.
would appreciate any feed back .
thanx lee
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Old 08-04-2006
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admin admin is offline
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Lee,
First of all, you have to wait for the engineer's report to come out to see what the problem is.
Second, the insurance company will call out three contractor's to come out and bid the project.
Third, if the project size is under policy limits then they will authorize the repair of the property as long as it does not exceed policy limits. If it does exceed policy limits, then they will issue a check in order to buy the policy back.
You still have a month or so to go before you find out what the insurance company want to do. In the meantime sit back and wait.
If you have any other questions please email us.
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