Comments on: What does an oil spill do to a home’s property value?

By: RED

RED — Mon, 21 Jun 2010 17:21:59 +0000

IT would be a disclosure you would have to make to a buyer. Even underground oil tanks have to be disclosed in most states. So that could affect the value. However, it is cleaned up properly and you have an environmental inspector clear it, you could get almost the same value as before. I am assuming you are talking about a spill directly on your land, not in the gulf of Mexico.
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By: jlf

jlf — Mon, 21 Jun 2010 16:46:59 +0000

You need to be a good deal more specific about the circumstances. Generally speaking, if the "spill" was properly cleaned up and closure documents from the relevant regulatory agency are on file, things should be OK.
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By: Mr. Fix-It

Mr. Fix-It — Mon, 21 Jun 2010 16:26:59 +0000

It will murder it as no-one will want to take a chance on buying a possible environmental diaster,,,It would have to be properly dealt with and certified clean to restore value..Also no mortgage company will loan on this till its cleaned up.
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Landlord