Buying and Selling Property

For most people, buying a home is the greatest investment they will ever make. The best way to protect that investment is by being informed. Although the number of mine subsidence claims per year averages somewhere between 100 to 150, those affected by mine subsidence would tell you that a mine subsidence claim is unlike no other. Not only can mine subsidence cause major damage to your home, but it can literally take years for ground movement to end, before final repairs can be made. For this reason, it is important to have all the facts you need in order to make a sound decision. You may want to consider the following items before the sale is finalized.

Ask the seller. Talk to other homeowners in the area. Ask your real estate agent. Use our link to the Illinois State Geological Survey mine maps.  IL. County Info./ISGS Mine Maps  These maps may not be easy to read because of lack of street or highway information, but you should be able to get a general idea as to whether or not there is a mine in the vicinity. The County Clerk's office might also have information available on mines in the area.

Ask the seller if there has ever been mine subsidence damage to the home, or if he/she has made a claim for mine subsidence damage. It is important to know that an Illinois statute requires the seller to disclose insurance payments received for mine subsidence claims. However, if the mine subsidence damage was not reported to the insurance company, the claim has not yet been paid, or, if the home was not insured for mine subsidence damage, the law does not require disclosure to you, as the prospective buyer.

Although there are a number of reasons not related to mine subsidence, that could explain why the following conditions exist, they should be properly investigated before purchasing a home.

Conditions to look for include:

1. Cracked, broken or damaged foundation.
2. Cracks in the basement walls that start from the foundation and move upwards.
3. Noticeable "tilt" in any part of the house or garage.
4. Doors and windows that do not open and close easily.
5. Cracks in the basement floor.
6. Cracks in the joints of cement blocks or exterior brick.

While homeowners who are selling their property often make cosmetic repairs for reasons unrelated to mine subsidence, you should look carefully at walls, ceilings, and basement walls, to see if there is evidence that improvements have been made to cover up existing foundation or structural damage.

If there is an open mine subsidence claim on the property, or if you suspect that there may be mine subsidence damage to the home, have your attorney secure an Assignment of Claim Rights from the seller, which will allow you to claim any remaining insurance payments that are due.

Below: An example of an Assignment of Claim Rights. The document should contain, but is not limited to, the names of both the seller and the buyer, the legal description and address of the property, the insurance company, and the dated signatures of both the seller and the buyer.

Up to Top