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Texas home worth $700K hanging over lake will be burned down

By Erica M. Szkola ,

The homeowners of a $700,000 villa have decided to burn it down. The home is just barely hanging on a cliff over a lake in Texas after an unexpected geological movement. The possibility of getting it to stable ground has been ruled out.
Last Wednesday, a large piece of land gave way beneath the property and fell into a lake in Whitney, Texas. The home was left dangling dangerously over the cliff.

The home is currently unoccupied and the homeowners abandoned it two weeks ago. It was declared unsafe over a year ago after a crack was discovered in the cliff beneath the home, Business Insider reported.

The home was built in 2008 and bought by homeowner, Rob Webb in 2012. According to USA Today, Webb said he is devastated. He spent his retirement savings to buy the home. He will have to pay for the demolition out of pocket because his home insurance does not cover earth movement.

The home was set on fire earlier today.

 

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