NJ Investors! Have you ever had to have an oil tank removed?

[Walmsley Gedeon]

Seller has an Oil Tank on property and wants me to know he doesn't have the money to move it. He is offering me a $5k credit on the deal of which I am already paying a bit more than I wanted to for a buy and hold in Irvington, NJ. I already have a 5k concession on the deal. Should I go even lower on the price? Have any of you had to remove an oil tank before? How much did it cost? What should I do here? Because I don't want to inherent a problem child.

[Jessica Zolotorofe]

Unfortunately, many.  The removal is not a big deal and the $5,000 is fair. Problem is if they remove it and find it was leaking, or any contamination in the soil nearby, then it can be very expensive to remediate, and at that point, you have spent the money and probably won't close, so you're out of pocket and did the seller a favor, which sucks. It's definitely a gamble, but up to you.