Insuring And Selling a Sinkhole Home

Submitted By
Buddy
Answers
1 expert, 0 community
Q:

I inherited a sinkhole house from my parents.  It is in a deed-restricted community, and turning into quite the money pit.

It has no physical damage, other than a few hairline cracks which have been there for years. And there is no sinkhole per-se, but when some neighbors reported sinkholes, my parents had a ground inspection.  Their insurance was then terminated, due to the findings.  The ground is unstable. 

The home is forty years old.  It has a new roof, and a recently replaced pool liner.  Unfortunately, because of the HOA, it must be maintained meticulously.  I cannot afford to keep doing this.  The electric for the pool pump alone is over a hundred a month, then there is the lawn, which is expected to be kept "lush and green".  The fines for that are $1000 a pop!  The HOA rules with an iron fist.

Since it is uninsurable, I am afraid to rent it out due to liability.

How can I get rid of this money pit?

Post new answer

Type the characters you see in this picture. (verify using audio)
Type the characters you see in the picture above; if you can't read them, submit the form and a new image will be generated. Not case sensitive.