Some homeowners and buyers are growing concerned about sinkholes after news reports surfaced of several opening up recently in The Villages, Fla. Twenty percent of the country is under “karst terrain,” which can be susceptible to a sinkhole event, according to the United States Geological Survey. That has left some wondering: How do you know which properties may be most at risk?
While sinkholes are relatively rare, they can happen. Florida tops the list of states for sinkhole activity, followed by Texas, Alabama, Missouri, Kentucky, Tennessee, and Pennsylvania,
according to the USGS.
There are some signs homeowners and buyers can look out for. Lou Nimkoff, president of the Orlando Regional REALTORS® Association, has been helping to educate members on some of those signs and what to do if a sinkhole threatens one of your real estate transactions.
Possible signs of a sinkhole lurking may be any sinking, sagging, or cracking walls inside or outside the home.
The USGS recommends that homeowners be vigilant about observing their property for any potential signs, like small holes in the ground or cracks formed in the structure’s foundation. Also, concerned homeowners can check if they live in areas underlain by soluble rock, which can be checked at the county offices, at local or state geological surveys, or through the USGS. View more potential signs that a home may be at risk at
EarthTech.com.
If a sinkhole is suspected, a geotechnical engineering company can conduct an evaluation, Nimkoff says. They can also provide recommendations on how to repair, if any problems surface.
“The decision on whether or not to move forward on a property involved in a sinkhole is dependent on many factors that are personal to each buyer’s intent, the type of property, and the type and age of the sinkhole,” Nimkoff says.
Sinkholes have captured headlines in Florida lately. In February, seven sinkholes opened up in The Villages, resulting in damage to four homes and causing two others to be condemned.
“If signs of sinkhole activity are discovered during the inspection process, buyers whose accepted purchase contract includes an option to cancel pending satisfactory inspection results (or a maximum estimated repair amount) will most likely be able to walk away without losing their escrow,” Nimkoff says. On the other hand, buyers who had contracts, like those for as-is properties or who included minimal contingencies may need to contact a real estate attorney, he adds.
Both sellers and their REALTORS® in Florida are required by state law to disclose the presence of a known sinkhole, Nimkoff says. The seller disclosure form made available to REALTORS® by the Florida REALTORS® organization even includes a specific sinkhole disclosure statement.
—REALTOR® Magazine
