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Updated over 12 years ago on . Most recent reply

User Stats

25
Posts
2
Votes
Travis D.
  • Wholesaler
  • Montclair, NJ
2
Votes |
25
Posts

Wholesaling Property with Underground Oil Tank

Travis D.
  • Wholesaler
  • Montclair, NJ
Posted

Can anyone provide me with some helpful tips in dealing with getting a property under contract that has an underground oil tank? I communicated already to the seller that they will have to have it removed and have a cert for it being properly discharged as a condition of our agreement. I would then credit them the cost at closing. Part of our value is we buy As-Is however I felt this is not an issue to be taken lightly and better to be safe than sorry. How do you more experienced wholesalers handle the oil tank issue? Is it enough if the seller has a policy that covers contamination? Thanks as always...

Travis

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