Top best answers to the question «Should i buy a house built on contaminated land»
In some cases, a contaminated property may need remediation work which can have huge financial implications as well as making difficult it to sell or re-mortgage… However, if the risk of the contamination is deemed low, it may be possible to get a mortgage to buy a property on contaminated land.
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If the land is 25m away it is unlikely to have an effect on you or your property unless it is giving off gas. It is more likely to cause you a problem when you come to sell the house especially as environmental legislation is becoming stricter all the time.
When buying a property it can be scary to find out that your new home is built on contaminated land. For most buyers this might scare them off from buying the property all together, however just because it is flagged that your property has been potentially built on contaminated land, doesn’t always mean it was.
Buying a house on contaminated land… This can cause serious harm to both people and animals, hence why many homeowners worry about the risk of their property being built on contaminated land. As well as this, the above substances can cause pollution to lakes, rivers or ground waters.
I'm in the process of purchasing my first house. My solicitor has requested the searches, which she said have shown up contaminated land either on the property or within 25 meters, which is from previous land use. She didn't tell me what it was. I viewed the property again last week and broached the subject with the vendor.
Advice for buying contaminated land. Before investing in a brownfield site, you should seek professional advice. At AVADA Environmental we offer a wide range of environmental management advice and services, employing specialist contaminated land consultants to assist with a multitude of client needs.
In addition, contaminated land can lead to death, life-threatening diseases, serious injury and birth defects and impairment of reproductive functions. A good Legal Adviser should thoroughly discuss the risks and implications of buying a property that is on contaminated land, as well as indemnity insurance and what further action may be required.
The U.S. has laws and procedures to protect those who buy and sell property that could be contaminated, but there is little that protects heirs. As a result, “financial and legal advisors don’t...
For applicants for planning permission, early engagement with the local planning and environmental health departments, particularly if the land is determined as contaminated land under The...
By the way, any former contaminated dump site, including Superfund hazardous waste sites, must still meet local and state remediation standards for home purchasers to qualify for loans backed by...