Sinkhole affected possible deal, need assistance quick please.
Hello guys,
Just got awarded a contract for a house to later get a call from the listing agent saying that the house had sinkhole remediation work done to it a few years back. I am not concerned about my ability to walk out of the contract since I have all possible proof that the information was only made available to me after the contract was awarded.
My question is more on going forward. I have a report(sent by the agent) that there was an underpinning work done to the house and a certification from a third party company validating the work, all back from 2010. I also have a more recent email sent by another engineer to the seller saying that to his knowledge the house was underpinned but not grouted and that he considers the sinkhole not repaired.
The contract price for the house gives me some average spread as per ARV. Now that this shows up I have a few questions:
- I assume that the fact that the house had a sinkhole repair done will affect the ARV (whether correctly repaired or not), an I correct?
- For those of you who had dealt with this before, how hard would it be to complete what is required to get this sinkhole dealt with?...and how expensive. The house is from 2008 and 1500 sqft.
A caveat to the situation, the house is located at aprox 3hrs drive from where I live.
Thank you all in advance