Is Tiger Woods the latest Florida homeowner to face a sinkhole?

Most of the troubles facing Tiger Woods, one of the most successful American golfers of all time, are pretty different than those facing average Americans. A number of Florida homeowners, however, can identify with one of the billionaire’s problems: sinkhole damage.

CBS Miami has reported that a sinkhole is causing structural damage to Woods’ $60 million mansion on Jupiter Island. As is the case with many Florida homes, evidence of a sinkhole began surfacing when cracks appeared in a floor. It has now been reported that those cracks have expanded, creating a very large hole in the mansion’s dining room floor.

Contractors have reportedly diagnosed the cause as a likely sinkhole pulling at the walls and doors of the room.

The mansion is now going to be stabilized with 15 giant screws that will be driven into the ground, according to the news report. The cost for the parts alone for this project is $15,000.

While such an expense may be minor to a person like Woods, a sinkhole can be financially devastating to many Florida homeowners. Florida homeowners who notice signs of sinkhole activity – such as cracked walls or foundation, cracked or leaky swimming pools, or sloping floors, among other things – should seek legal counsel. Sinkhole damage can result in extensive and costly repairs, and it can be difficult for homeowners to ensure their insurers compensate them appropriately.

Additionally, many homeowners, and even probably Mr. Woods himself, become very concerned about how they will ever sell their homes once sinkhole damage is evident. There are a number of issues involved in selling a home with sinkhole damage, and this process may require legal and financial counsel.

Tiger Woods: Florida Sinkhole May Be Under $60 Million Jupiter Island Mansion [Video]