METH FOUND ON MULTI-UNIT! help needed
11 Replies
Oscar Chirinos
Investor from Crystal Lake, Illinois
posted over 3 years ago
Hello BP Family, so im in the middle of closing in a multi-unit in salt lake city Utah and I just got the meth test results back "Salt Lake County currently uses 1.0 ug/100 cm2 or higher as the decontamination standard for any mitigation action for a property. The levels found at this home were OVER with a reading of 27.0ug/sample (about ten times the limit deemed safe)."
what should i do?
Im thinking of backing out, since im not sure if even if i was to remimdiate it if im legally now obliged to disclose it every time. Unless i get an amazing discount im really not sure where to go form here. I am just getting cost estimates for remidiaiton.
thanks so much guys!
Jody Schnurrenberger
Investor from Asheville, North Carolina
replied over 3 years ago
I thought you meant CRYSTAL meth was found on the property! HAHAHA! That's the whole reason I opened this post. I was curious about your drug woes. (No offense!) As for the more boring kind of meth, I don't know. I'd back out, but then, I don't know anything about it. Good luck with whatever you decide!
I bet YOU wish it was crystal meth found, too. That's a lot easier to get rid of, I bet... ;-) Good luck!
Curtis Fergus
Investor from Salt Lake City, Utah
replied over 3 years ago
I’d make a few calls to get an idea of costs to clean it out. Ask for atleast that much off your purchase price and close it if it’s a good deal. If you don’t want it even still then wholesale it!
Matt K.
from Walnut Creek, California
replied over 3 years ago
What makes this property so special you're willing to do all this extra work? If you can't answer that... on to the next one.
Anthony Hurlburt
from Salt Lake City, Utah
replied over 3 years ago
You could always make the deal contingent on the seller getting the house re-mediated to fall with the meth limits given by the city.
Oscar Chirinos
Investor from Crystal Lake, Illinois
replied over 3 years ago
Thank you Matt,
Well i guess that's a very good point,
one cash flow is great and for two multi-units are quite low in stock =( deals come deals go that is true, but im just doing some extra due diligence work. thank you so much for the input though!
Brandon Norlund
from Bountiful, Utah
replied over 3 years ago
@Oscar Chirinos , my wife is a real estate agent here in Utah and she said it would need to be disclosed on the seller's disclosure form that is submitted to the state. If you were renting it you probably wouldn't have to tell the tenants, but it would be public record if they ever looked into it, and it's good practice to be honest.
I don't know if I see it as a big deal if you have it decontaminated and rehab it. I would view it the same as disclosure of asbestos, lead paint, and decontamination of those things. I wouldn't hesitate to live in a house where all of that was taken care of. If the decontamination works with the numbers, I wouldn't necessarily walk away just because of that.
Carson Wilcox
from Davis, California
replied over 3 years ago
seems to be like any other repair... roof, foundation etc... get it covered with a good buffer, or haul bass...
Mindy Jensen
BiggerPockets Community Manager from Longmont, CO
replied over 3 years ago
Meth remediation is no joke, @Oscar Chirinos .If this is your first experience with it, you may wish to walk away from the contract. Remediation is expensive.
Deanna McCormick
from Minneapolis, Minnesota
replied over 3 years ago
So It's confusing,,, ARE YOU the SELLER ?? or BUYER ??
As seller you would need to disclose to any other buyer... and I'd get remediation costs calculated.. Do you realize how hazardous this is to work with,, I'd rather deal with asbestos.
If your buyer,, walk away..
Account Closed
replied over 3 years agoOriginally posted by @Jody Schnurrenberger :
I thought you meant CRYSTAL meth was found on the property! HAHAHA! That's the whole reason I opened this post. I was curious about your drug woes. (No offense!) As for the more boring kind of meth, I don't know. I'd back out, but then, I don't know anything about it. Good luck with whatever you decide!
I bet YOU wish it was crystal meth found, too. That's a lot easier to get rid of, I bet... ;-) Good luck!
What is this actually referring to if not methamphetamine? I did a quick google search while trying to answer that myself and did find this link, which might help the original poster.. (it does look like they are talking about methamphetamine) https://slco.org/uploadedFiles/depot/fHealth/regs/...
Jody Schnurrenberger
Investor from Asheville, North Carolina
replied over 3 years ago
@Account Closed , wait, so it WAS a meth lab at some point? I assumed it was like methane or meth-something else. Beats me! I'm still following this thread for educational purposes, but once I saw there wasn't drug drama (they make for interesting stories), I lost interest except academically. lol