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Updated about 5 years ago on . Most recent reply

Sami Gren's profile image
Sami Gren's profile image
Sami Gren
  • Rental Property Investor
  • from new jersey
  • Member since Jan 27, 2019
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418
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Sami Gren's profile image
Sami Gren's profile image
Sami Gren
  • Rental Property Investor
  • from new jersey
  • Member since Jan 27, 2019
Connect
Sami Gren
  • Rental Property Investor
  • new jersey
38
Votes |
418
Posts
Job Loss/Company Closings

About to close and found oil tank issues

Sami Gren
  • Rental Property Investor
  • new jersey
Posted

Hi, I was about to close and we discovered an oil tank we removed it and it has holes.

Now we are waiting  to get the results from the New Jersey lab to see if there is any soil problem, I am having issues because my rate is running out and I need to close any day in order to keep my rate, and they are willing to put an escrow only $5,000.

Am I risking too much?

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Rob Bowness's profile image
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Rob Bowness
  • Investor
  • from Sparta, NJ
  • Member since May 31, 2019
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Rob Bowness's profile image
Rob Bowness's profile image
Rob Bowness
  • Investor
  • from Sparta, NJ
  • Member since May 31, 2019
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Rob Bowness
  • Investor
  • Sparta, NJ
15
Votes |
42
Posts
Rob Bowness
  • Investor
  • Sparta, NJ
Replied

@Sami Gren, I would reach out to a company that specializes in oil tank removal and ask for guidance. I just wouldn’t want to be holding a property with oil tank issues.

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