Monday, December 11, 2006

Subdivision - Cont.

Today I spoke with the Enviro Guy that will be doing our initial records search online for potential problems on the three lots. His name is Tommy Malot w. Malot Enviro & Const. Sharp fella. He brought up undergound storage tanks for the homes and that there may be some on the property. He'll check into this and in the meantime, he's sending me his scope of services agreement to review.

He also mentioned a Phase I for the property (Phase I is the second step after an online regulatory agency search based on property address) would run about $2900. Frankly, a bargain. I've heard of them being as high as $5k.

This could be really important - you see, one storage tank could literally KILL this deal. So, for sure, DO NOT EVER buy a property without this part of your DD being covered.

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