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Old 02-25-2013, 02:16 PM
Starbuy Starbuy is offline
LawnSite Senior Member
 
Join Date: Dec 2011
Location: Summit County, Ohio
Posts: 335
Has anyone tried to sell or refinance their Imprelis contaminated property yet? Appraisers have a line they must checkmark yes or no on the forms I've seen. Here's one example: http://www.freddiemac.com/sell/forms/pdf/2070.pdf

FreddieMac Loan Prospector Condition and Marketability Report

Line 4 -Condition and Marketable Factors

No___ Yes___ Hazardous waste, toxic substances, or other environmental problems are suspected.

Is this greatly concerning for a property owners who's property has been laced with Imprelis? I would say yes, wouldn't you?

Furthermore, will property owners (personal and commercial) in the future be subject to environmental due diligence with REC (recognized environmental conditions)? Many banks require environmental due diligence be completed before they will issue loans. Even if a bank is not involved in a sale/purchase there is the question of future liability for existing contamination on the property in question.

So, you can see why many property owners have hired attorneys to help them with this very bad situation which can adversely affect property values. This goes beyond just replacing some trees and the money it takes to do just that, if trees will even grow normally in the future in those areas. Many unknowns still exist.
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