Updated over 8 years ago on . Most recent reply
Seller has Oil Tank on property that needs to be removed?
Seller has an Oil Tank on property and wants me to know he doesn't have the money to move it. He is offering me a $5k credit on the deal of which I am already paying a bit more than I wanted to of $170k for a 4fam for a buy and hold in Irvington, NJ. I already have a 5k concession on the deal. Should I go even lower on the price or just accept the $5k credit?
Most Popular Reply
You may want to get the soil tested before you take this on. If the soil is contaminated it could cost considerably more than $5K to remedy this. Some localities will allow old oil tanks to be filled if they are empty instead of having them removed if the soil is not contaminated. Check before you buy.