Considering a multi-unit (3 1BR’s) “as-is” in Baltimore City. Inspection was yesterday. Oil tank is in basement and I noticed a small leak consisting of water and oil mixed (there was a blue sheen to the water) on the floor next to the tank and old oil boiler. Pool was roughly 3ft around. Basement floor is concrete.
Question—will this need to be remediate according to MDE guidelines or can I just clean it myself and dispose of rags and oil environmentally?
Should I avoid this purchase due to potential costs of remediation??
Any thoughts welcomed!
I would clean it myself. I would also remove oil and replace with another heating source. At a minimum, you have to replace a leaking oil tank. It all comes down to the numbers, since it is an as-is purchase are other repairs needed. If so, how much.
Once you find out the estimated cost, you could add that into your numbers for the offer. Do you plan to flip or rent it? Good luck!