Underground tank removal - under DABO
Hi everyone have a 2 family under attorney review in Bayonne, NJ. During review attorney passed along that a there's a decommissioned underground oil tank, I saw reports/permits from state of that. I asked my attorney to request seller to remove oil tank and seller came back that they're prepared to remove oil tank and remediate any contamination but requesting to buyer (myself) to contribute 50% with a cap of 5K. So it removal is 2K ill put 1K if the removal is 20K I put the max of 5K. This is my first house hack and never dealt with this situation, and don't want to incur with any other expense from beginning when I could be using this money towards improving the rental unit. Curious if other investors faced this issue or have experience in this matter. What do you think a worst case scenario would cost in Bayonne? What about your best case? Im thinking of requesting 100% of the cost to be on seller side as I dont want to get into a bigger problem down the road, also not considering the timing of tank removal in regards to closing. Would appreciate any input.