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Updated over 14 years ago,
Sinkhole next door
Strange situation at potential property.
Purchase and Rehab Estimate of: 55k
ARV of 100k. Looking to list at 90k.
Comps run 130-150k, slightly bigger lots.
My issue is that there is a fairly significantly sized sinkhole on the neighboring property. It's fenced off, and pretty noticeable. Does anyone have any idea who to contact to check the status of something like this? Whether its growing, or where the cave system below it runs? It's a pretty good distance from the house, and my gut says it isn't going to be a problem, but I want to have something to show buyers to prove my gut feeling. I'd also try to work with the neighbors on getting a nicer fence put up...