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PA** we're looking at buying a foreclosed property for

PA** we're looking at buying...
PA** we're looking at buying a foreclosed property for rehab/resell. The house appears to be reasonably maintained prior to the foreclosure but we notice that it's got a buried oil tank next to the house. The bank would not allow for an inspection seeing that it does not want responsibility for any kind of information. Would that be an issue upon resale? we know that in some states underground oil tanks must be dug up, and the soil inspected. is PA one of those states. Also in the event we are digging up the oil tank, would the excavator be required to do a soil testing and to note condition of the tank.
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Answered in 38 minutes by:
12/2/2017
WiseOwl58
WiseOwl58, Lawyer
Category: Real Estate Law
Satisfied Customers: 4,595
Experience: Experienced real estate lawyer and real estate broker.
Verified

Yes, the oil tank has to be removed and the seller/bank should pay for it. Or else you should negotiate a discount in the sales price, because you will have to remove it before you can close the sale and move into the house.

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Good luck to you. I wish you all the best.

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Good luck to you. I wish you all the best.

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WiseOwl58
WiseOwl58, Lawyer
Category: Real Estate Law
Satisfied Customers: 4,595
Experience: Experienced real estate lawyer and real estate broker.
Verified
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The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).

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