Buying a mix use building that had a cleaners.

[Emmanuel Hirakis]

I'm now in contract for this mix use property. We went through all proceeding and got the commitment letter from the bank. One of the items required by the bank is either a letter from the seller stating no harmful substance was used on the property.

(Or spilages)

Needless to say the seller will not sign a papers stating this.

Now a phase1 will have to be conducted. They are requiring me to do it otherwise they will try and keep my deposit.

I had my lawyer draw up a addendum saying that we will pay for phase 1 but if comes back with additional remediation they will have to pay for both the phase 1 and the remediation if at that point then I will be able to pull out of contract unless they do remediation within the month.

Would of never got into contract if i knew there was issues with purchasing properties that had cleaners in there.

What other businesses would you guys say that we need to stay away from.