Environmental (alternative)
A Maryland buyer discovers that the property they are purchasing has a history of oil spills from an old heating oil tank. The best course of action is to:
AProceed with purchase—old spills are not the buyer's problem
BRequest a Phase I or Phase II environmental site assessment before closing✓ Correct
CAsk the seller to simply remove the old tank before settlement
DCall MREC to report the seller
Explanation
A Phase I environmental site assessment (and Phase II if Phase I identifies recognized environmental conditions) is the standard industry practice to evaluate environmental risk before purchasing potentially contaminated property.
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