Anybody ever buy a house that had a sink hole under it and if so was it hard to rent and have it insured.
uh…if it’s under it, how do you know?
if it’s “in” the sinkhole, I imagine you’d have problems renting it.
If it’s actually over a sink hole, I would guess that you’d have a hard time getting it through the appraisal/loan process and then getting it insured…
The hole is 10’ from the house and will need to be filled in and it has stopped growing. It would be a cash deal so money is not a problem and I can self insure it with all that said think I will have trouble renting it assumeing it is a good rental area.
If the hole is filled why would it be hard to rent?
Self-insuring is NEVER a good idea! You cannot afford it!
I’d make well sure that I knew WHY the sinkhole was there in the first place. Then you would know if it were going to get worse/bigger.
I believe that you’re legally obligated to inform any tenants about issues like that before they sign the lease. Which would have a big impact on the amount of rent you can collect. I can only imagine the lawsuit that would happen if that sink whole started back up while you had a tenant in the property.