What can contamination do to the value and desirability property?
Today’s real estate buyers are not willing to “own someone else’s problem”. The need to remove and replace your underground tank system is inevitable regardless of whether you decide to sell your property or not. Many lenders, homeowners insurance companies, realtors, real estate attorneys, engineers and home inspection experts recommend that potentially hazardous oil tanks be removed before the transfer of title. It is widely believed by industry leaders that safe is always better than sorry, and that property owners should seriously consider addressing a possible leakage situation before they are faced with the substantial costs that can come with a leaking tank.
Related Questions
- How do I determine the estimated market value of a particular property using the Comparable Sales provided by RealtyTrac?
- How may I get reimbursed for lost business or property value that I feel is due to contamination from the base?
- Is original warrant article silent as to value of personal property to be donated?
