this is the house im traying to buy the bankowens it do thaymove the oil tank can some one pleas helpm

Asked by Thekevster, 07740 Fri Dec 19, 2008

Iv been approved for my loan i have a va loan help a veteran

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John Sacktig, Agent, New Jersey, NJ
Fri Dec 19, 2008
If there is an oil tank, the bank as the new owner of the property may be responsible to remove and or test it to make sure there are no environmental issues that you would have to deal with. Otherwise they could have this property on their hands for a time to come and have to remediate.

I had recently sold a bank owned property that was found out to have a small level of Radon gas there was a water issue in the basement. We had estimates prepared and the bank creditied us the amount for the repairs. They would have had to disclose and remediate these issues for the next buyer.

Have a good agent in your corner that has experience in these matters.

Good Luck

John Sacktig
Broker / Manager
Orange Key Realty
Office: 732-863-6969
Direct: 732-213-1409
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Gregory Bain, , Ocean County, NJ
Fri Dec 19, 2008
I don't see where it says there is an oil tank. The listing says it has natural gas - if there was an oil tank in ground the bank would not fix, replace, or, remove it (most of the time). They would state they have NO Knowledge of any UNDER GROUND Storage. You are buying it "as is", it may or may not be eligible for a VA loan and a mortgage broker may want to talk you into a FHA or Conventional.
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