I am buying a two family house for investment purpose. This is an old house. The house is under contract and the seller has repaired problems found in the home inspection. The problem is there were two abandoned oil tanks in the property. The seller has removed the tanks as requested by me. There was leak from one of the tanks so the soil was contaminated. The seller hired a professional company to clean up the contamination. They have removed all the contaminated soil whitin the property. However, the nearby area (under the street) is also contaminated so the seller cannot obtain a certificate from the state unless they also clean up the nearby area. To break the street for this purpose is a big project so the company suggested that they drill a well in the property and obtain water samples using a PVC pipe connected to the well for periodic monitoring of the water qualify. The monitoring period will be up to two years. They said this approach is acceptable by the state regulations. The seller agrees that if we close the house now, he will take full responsiblity for the clean up project and eventually obtain a certificate. He also agrees to set up a escort account to set aside the funds for this project.
Other than the oil tank problem, I like this house and think it is a good buy. What worries me is the long wait period for the certificate and although the seller says he will be responsible for taking care of it and agrees to have legal documentations for his commitment and set aside the funds for the project, I still don't have good level of confort for the situation.
希望大家給點建議。
