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We are in the process of buying a house and are in the pre-closing inspection stage. We fell in love with the house and the neighborhood.
We hired someone to do a general inspection on the house and cesspool and the results looks mainly fine. We also hired inspector for the oil tank and trouble surfaces up.
Based on the inspector, the oil tank has major leak above surface level. We indeed want to abandon the oil tank soon after we buy the house. However, the inspector told us this is going to be a major road block during the abandonment process. We were told since the oil tank is known leaking, legally we can't sign the affidavit on non-leaking during the process. Also, in order to fix this to get abandonment paper, soil test and replacement could be needed, which could easily add up to 100k.
We don't live in Long Island and not quite familiar with the rules and procedures there. This house is in Nassau County. Could any local guru suggest if this is indeed a really big issue or this is kind of common and nothing to worry about.
First of all, the homeowners should be held responsible for the clean up. Not you. Don't agree to do this cleanup. It's for the seller.
And, yes it will probably cost at least $100K to do a proper cleanup if the oil has leaked into the ground. Oil contamination is a very expensive fix.
And if oil has leaked into the ground, the sellers will have to deal with the EPA. That isn't going to be fun.
The only thing I can see that could save this deal, is if the oil hasn't actually leaked into the ground. If it has, you're through.
I'll bet the homeowner/seller has been aware of this problem for some time. If they plead the fifth, they're not telling you the truth.
I know you said you love the neighborhood and the house, but both are not worth this gigantic headache. So, okay, you got as far as a house inspection. Good thing this was caught before you got so involved you couldn't get out of this terrible deal. So you like the neighborhood - go look for another house in it and fall in love with one that doesn't have this issue.
IMO, leaking oil tanks are not that common on Long Island (or anywhere probably). Don't get the idea that most houses have this issue. They don't.
This isn't what you want to hear, but unless there is no leakage into the ground or no 100% guarantee of leakage of oil into the ground during the abandonment,
RUN - DO NOT JUST WALK AWAY - RUN from this deal. You lost a few hundred dollars for the inspections. Money that was well worth being spent.
RUNNNNNNNNNNN..................................... ...............
If the EPA gets called in, you could be on the hook for $100's (yes, that's hundreds) of thousands of dollars in problems! You can chase down the previous owner all day (good luck), but it will be YOUR problem. Depending on how far they determine it spread, forget it...at the mercy of the EPA is no place to be.
Pretend the place has rats as big as elephants and move on!
As soon as the EPA finds out the property will be designated with a EPA number. Which will be like a bad case of herpes.....you will never get rid of it........Pass on the house no matter how much it hurts. Do the folks next door a huge favor and let them know somehow............Or dime them to the EPA for playing stupid....................
We are in the process of buying a house and are in the pre-closing inspection stage. We fell in love with the house and the neighborhood.
We hired someone to do a general inspection on the house and cesspool and the results looks mainly fine. We also hired inspector for the oil tank and trouble surfaces up.
Based on the inspector, the oil tank has major leak above surface level. We indeed want to abandon the oil tank soon after we buy the house. However, the inspector told us this is going to be a major road block during the abandonment process. We were told since the oil tank is known leaking, legally we can't sign the affidavit on non-leaking during the process. Also, in order to fix this to get abandonment paper, soil test and replacement could be needed, which could easily add up to 100k.
We don't live in Long Island and not quite familiar with the rules and procedures there. This house is in Nassau County. Could any local guru suggest if this is indeed a really big issue or this is kind of common and nothing to worry about.
Thanks a million in advance!!!
Run!!!!!! As fast as you can! EPA finds out, they will rip up your entire block. Costing YOU hundreds of thousands of dollars!
Soil/oil contamination is a HUGE $$$ problem, which if true, should be taken care of by the seller NOT you!
On occasion, inspectors cry "wolf" when there is none. You could consider getting another inspection, but be prepared to walk away... You do NOT want to be saddled with soil contamination!
RUNNNNNNNNNNN..................................... ...............
If the EPA gets called in, you could be on the hook for $100's (yes, that's hundreds) of thousands of dollars in problems! You can chase down the previous owner all day (good luck), but it will be YOUR problem. Depending on how far they determine it spread, forget it...at the mercy of the EPA is no place to be.
Pretend the place has rats as big as elephants and move on!
I know one woman -- years back -- was over $100K.
To the OP -- DO NOT BUY THIS HOUSE!
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You do NOT want to be saddled with soil contamination!
