Multi-Family Residential Property

Buying even a residential property can have potential liabilities. Our expertise helps avoid hidden pitfalls as in the following example: GEC conducted a Phase I Environmental Site Assessment and coordinated asbestos and lead-based paint testing for the prospective purchaser of a multi-unit residential building.  During our investigation, we identified two abandoned 20,000-gallon #2 fuel oil underground storage tanks (USTs). GEC recommended tank tightness testing to determine if the tanks were in good condition. Both tanks failed the tightness test and the client negotiated removal of the tanks prior to taking title to the property.