UPDATE: 6/9/2021: The sunset date of June 30, 2022 has been eliminated so CFSIC will be able to operate until at least 2029 and will be able to continue to seek funding.
As a local real estate company in Mansfield we are experiencing increasing contact with homeowners new to the Pending Claimant status at Connecticut Foundation Solutions Idemnity Company (CFSIC). Confusion abounds about the meaning of this status and the implications for sellers and buyers.
Although CFSIC has been very clear about what a pending claimant is and is not, it seems people are either not reading or failing to grasp the concise and plentiful information that flows weekly from the CFSIC site.
For sellers who failed to file a claim in the early days of 2019 or who have recently discovered they have a crumbling basement, you will become a Pending Caimant once you come forward. Pending claimant status is you raising your hand to be counted among the many hundreds of others just like you. You are guaranteed nothing other than your name and property address on file with the CIFSIC should more funding become available beyond the current sunset date of June 30, 2022. You are not required to get contractor quotes for foundation replacement. The best thing you can do is submit your application and all the points of evidence so that once and if money becomes available you will be ready to convert to an active claim and finally get in line for relief. 
For buyers you can purchase a property with an active or pending claim that the seller can transfer to you. You will essentially be replacing the seller in line at the time of purchase. If a seller transfers a property to you with an active claim, you are in line for foundation replacement, the money for your claim is in reserve. If you purchase a property with a pending claim, you are a name on a list at CFSIC that identifies you and the property as a future claimant if and when funding is available. In other words, you may never see a dime.
The CFSIC site is the best source for all information about the current crumbling foundation epidemic. The site has recently added a series of articles by Kevin Miller, an authority on concrete, about concrete including the orgins of the problem in Connecticut and Massachusetts and information about concrete, water and how in certain cases it deteriorates and why. If you are interested in learning more about the science of concrete failure I highly recommend these white papers.
I have found the folks at CFSIC to be prompt and straightforward and they do their best to answer our questions as we try to assist sellers and buyers navigate these difficult transactions.
Please contact us for more information on buying or selling a home with a crumbling basement.
Watch CFSIC video on how to apply for Pending Claimant status.
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