Environmental
A Wisconsin seller discloses that there is a leaking underground storage tank (LUST) on the property. The buyer should be advised to:
AAccept the property as-is since the seller disclosed it
BObtain an environmental site assessment and understand cleanup costs and liability before proceeding✓ Correct
CSimply add a price reduction to cover cleanup
DAssume the DNR will clean it up for free
Explanation
A buyer considering a property with a LUST should obtain a Phase I and possibly Phase II environmental site assessment to understand the scope of contamination and associated costs and liability.
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