Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Tax, SDIRAs & Cost Segregation
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated almost 7 years ago on . Most recent reply

Account Closed
  • Howell, NJ
0
Votes |
4
Posts

Hazardous Property Sold at Auction - Any recourse???

Account Closed
  • Howell, NJ
Posted

I bought a property from a sheriff's sale only to find that the property has an oil tank leak from an above ground storage tank in the basement.  It was never disclosed that there were environmental issues during the auction.  I only learned of this after the purchase. The next door neighbor told me that this likely happened as a result of the flood from Hurricane Sandy. The oil tank appears to have been decommissioned at some point since the home has been converted to gas but there was obviously a spill on the concrete floor that lingered around for 5-6 years.  The odor is VERY strong and has small piles of mud scattered throughout. I'm not sure what the implication is to clean up this mess and the potential nightmare that might ensue based on some of the horror stories I've read about. The deed is not conveyed to me since it's taking 6-8 weeks to process so I'm technically not the owner yet. I definitely don't want to inherit this potential disaster especially since this hazard was never disclosed upfront.  Is it even legal to sell a contaminated home at an auction without any disclosure?? Any thoughts on how I can get out of this nightmare?? 

Most Popular Reply

User Stats

22,059
Posts
14,127
Votes
Jon Holdman
  • Rental Property Investor
  • Mercer Island, WA
14,127
Votes |
22,059
Posts
Jon Holdman
  • Rental Property Investor
  • Mercer Island, WA
ModeratorReplied

I doubt you have any recourse.  When buying at a sheriff sale you're taking a big risk because you're unable to do any real due diligence.  You don't get a property condition disclosure in a sheriff sale.

Loading replies...