Selling A Sinkhole Home
One of the most challenging and stressful experiences for any Waco homeowner is selling a home. Many things and details are to be taken into account to make the process go smoothly. Any problems with the property can bring significant setbacks. One of the problems you may face is a sinkhole, a natural or man-made hole in the ground that usually appears when water dissolves the surface rock.Many sinkholes are caused by human activity, like drilling, mining, or construction.
If you own a property with a sinkhole, selling it will be difficult. There are essentially two selling options available: paying the cost to repair it or selling the property to a cash buyer as-is.
What Do You Need to Know About Repairing a Sinkhole Home?
Repairing may be a viable option, but there are some things to consider:
How Much Are Repairs?
Repairing a sinkhole is expensive. The average cost of repairing a sinkhole property lies typically between $10,000 and $15,000. In the case of more serious damage, this number may increase to $100,000.
This is primarily due to the cost of materials. For an accurate price estimate, we recommend consulting a licensed engineer.
Is Repairing a Sinkhole Home Safe?
The majority of the time, it is considered safe to repair a sinkhole home. However, if there are any questions and you would like confirmation, a professional engineer is the best person to contact.
This also depends on the type of sinkhole. Unfortunately, natural sinkholes often return even if they are properly repaired. There is no guarantee that they will not appear again.
Do You Need to Disclose Any Information About a Sinkhole?
If you are selling a property with sinkhole activity, you are required to tell prospective buyers about it. This is crucial because even after repair, sinkhole properties are not 100% safe. Therefore, when selling a sinkhole home, make sure to provide buyers with a copy of the original report that contains all the details about the sinkhole incident, including a copy of the completion certification of stabilization.
Sell Your Sinkhole Home to a Waco Cash Home Buyer
If you own a home with a sinkhole, repairing and selling can be a hazardous source of frustration and can cost you thousands. This is where We Buy Waco Houses comes in. We Buy Waco Houses can buy your home immediately for cash, saving you from the hassle of repairs.
Are you looking for a home investment company or cash buyer in Waco, TX, or any other nearby area in TX to sell your house fast? We Buy Waco Houses is ready to help. We buy houses regardless of their age, condition, or other circumstances. Even sinkhole properties are not a problem to us. If you have any questions or want to know more about our company and our home-selling process, feel free to visit our website or give us a call.