Sinkhole Appraisal
Sinkhole or settlement what does an appraiser look for? We have all heard the story of the man who was swallowed in his bed by a sinkhole that opened up under his house. Most of us living in the Tampa Bay area have not seen the earth open up and devour a house but many, especially in Pasco County have heard about friends and neighbors who have reported a sinkhole.
The first thing that is important for a homeowner or especially a home buyer to know is that an Appraiser is not a home inspector and an appraisal is not a home inspection. Appraisers are not trained to determine if you have sinkhole activity. That diagnosis takes specialized tests and specialized knowledge. Appraisers are trained to spot readily observable anomalies that could be an indication of a problem. Appraisers are not required to move furniture, dig in the ground or peer under your flooring so spotting a problem may not be easy.
Appraisers in the course of the appraisal inspection do look for suspicious exterior cracks. These cracks could be along the foundation or along the outline of the blocks in concrete block construction. Often minor cracks are typical and nothing to be concerned about. Excessive cracking or particularly cracks that are wide enough to insert a coin in the crevice are a concern. Another concern is a sloping in the floor. If an appraiser notices an incline in the flooring or a shift from one area to another, this could be an indication of settlement, earth- movement, expansive clay or sinkhole activity.
Once an appraiser spots an area of concern the appraiser will note the issue in the report. This should be observed by your lender (if you are working with one) who should inform you and provide you a copy of the appraisal. If you are ordering an appraisal personally, you should read the report thoroughly. In addition a good appraiser in this circumstance would call your attention to the matter. The appraiser will then recommend that the appropriate inspection be ordered so that you can be certain as to the situation and necessary steps to take if any.
For more appraisal info visit: http://PriorityAppraisalandMortgageServicesInc.appraiserxsites.com or call Shari Peterman directly at 727-505-6706. I look forward to hearing from you.
Sinkhole Appraisal