IN-GROUND OIL TANK ADVICE

[Christopher Veljkovic]

Thanks in advanced to those who can help guide me through or shed some light on the following scenario. What would you do?

My wife and I are looking into buying our first duplex. Its in a desirable area which can bring in good cash flow after we move out to our next home. The roof needs work but for the most part the home is move in ready. The asking price is $390K.

The situation:

In-ground oil tank within a basement crawl space, which has been given a clean bill of no leakage by a third party and is in a Category A flood zone. The home owner is unwilling to remove the oil tank. I probably can negotiate for a lesser price of the home, BUT, is the risk worth the reward?! How can I lessen the risks? What can I do besides the obvious getting ground tested? What if the seller will not allow me to test the soil?

Additional note: The seller's realtor claimed that the tank was no longer in use ,but upon further inspection from our realtor the information was deemed misleading.

Thanks again for the input!