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Old 04-29-2009, 08:43 AM
 
3 posts, read 12,659 times
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It has come to my attention that many people are buying foreclosed properties under an "as is" contract. Many of these older properties have leaking underground heating oil storage tanks (USTs). Any property sold "as is" should be highly suspect for all kinds of problems. Cleaning up leakage from a UST could cost more than $10,000.
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Old 04-29-2009, 09:02 AM
 
Location: Efland
1,877 posts, read 5,349,702 times
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If you are looking at foreclosed or pre-foreclosed properties that are "as is" make sure you put in your contract that if there are any damages over a certain amount you are free to walk away.
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