If a lender ever forecloses on a property with environmental contamination the lender runs the risk of becoming an owner in the chain of title and therefore possibly responsible for the cleanup.

However, we saved a potentially HUGE cleanup bill because if we chose to still close the deal, we were on the chain of title and could have had to carry the cost of a cleanup if the Phase II determined a spill.For my example, looking at it from the seller's side, he was very wise to refuse us the opportunity to do a Phase II.  

I am currently an assistant reset supervisor for a local grocery store chain.

-Puerto Rico tends to be very attractive for travelers due to several facts that distinguish us from similar vacation spots near by:1) It is a completely different country from the US with unique cultural differences ranging from food, music, language, history, customs, etc. but still having the many advantages of never actually leaving the US / so you get the best of both worlds (experiencing a foreign country without actually taking the risks of leaving a US territory).2)US currency is used, so no need to go thru the hassle of money exchange and conversion headaches.3) No visa or passport needed to travel4)You can find people that speak english in most areas of the island so no big issues with translation.5) You can also find some familiar and popular chain stores if any last minute items are needed.Now one of the most important facts to take into account is how the hotel industry works.

All meals and transportation is included.

Soak up the education, REIA's deliver a lot of good training, chow down a few meals....

My business partner and I run a small chain of restaurants in the Atlanta that has done pretty well over the last few years with steady growth.

Lender's Title Insurance cover's the Lender from any loss due to Chain of Title. 

When doing a virtual drive by, some things you may want to be on the lookout for are chain link / metal fences around every home, trash / broken furniture out in the streets, stray dogs running around, uncut overgrown grass, broken down cars in people's drive-ways and lawns, bars on the windows of the homes, etc.

Sounds to me like they want to assign / double close, but won't let themself be the second daisy in the chain!