This is a New Jersey Short Sale Transaction - After battling with NS about not getting a property on their fraudulent Auction.com, we later found out the underground oil tank soil test came back with a light contamination result. We approached the lender for remediation expense and we were told that it was a repair and they did not cover repairs.
Anybody with any thoughts?
They are not likely to cover a repair, however a new purchase price may be negotiated. Worst case scenario, if you cant make the numbers work now, the next time there is a BPO make sure the BPO agent knows about the oil contamination so they will value the property accordingly.
NS never pays for oil, septic and similar repairs..seems to be a policy they have