FH and I just backed out of the deal for the house we wanted.
The owners have an underground oil tank without the proper permits (they installed it themselves - who does that?!). Also, they left the old tank down in the ground, just emptied it out and filled it with sand without getting the proper DEC inspection and permits. The seller is unwilling to take any steps to get the proper permits and told us we need to take the house 'as is.'
My lawyer (who has also been my boss for the last 20 years) advised FH and I NOT to buy the house. There's too much liability for us. Fixing the problem (the tanks are under the beautiful paver patio and driveway) would cost FH and I a minimum of $15,000 and that's assuming there's no contamination.
Thankfully our engineer caught the problem BEFORE we signed the contract. Just a warning for anyone buying a home - spend the $$ for a home inspection - it will save you thousands in the long run!
The hunt for the perfect house continues!
Edited because I forgot how to spell.
flairforfashion
Posted:
Member since
Re: We backed out of deal....
I am so sorry that this happened.
I can assure you that your boss / lawyer is right. There is WAY too much involved with these tanks.
My Sis and her Hubby got a house and found out 2 years later about an oil tank. It cost them 44 grand!!!!!!!!!!! All there wedding money spent to fix this.
I know you are probably upset but everything happens for a reason. I believe you will find another house better and problem free! Good luck hun!
geegee827
Posted:
Member since
Re: We backed out of deal....
Posted by flairforfashion
I am so sorry that this happened.
I can assure you that your boss / lawyer is right. There is WAY too much involved with these tanks.
My Sis and her Hubby got a house and found out 2 years later about an oil tank. It cost them 44 grand!!!!!!!!!!! All there wedding money spent to fix this.
I know you are probably upset but everything happens for a reason. I believe you will find another house better and problem free! Good luck hun!
That just made me feel so much better about our decision to back out!
Thanks for all your support girls! I really love this site!!
pandafish519
Posted:
Member since
Re: We backed out of deal....
you 100% did the right thing! it is a HUGE deal if it wasn't properly abandoned and could cost you A LOT of money to be done the 'right way' my friend just went through this for a house they loved, and it didn't work out. Don't worry... you'll find the perfect house!
