Would love opinions on something like this and the impact on future home sellers here. Hell, even the impact on residents that have appraisals completed for refis, divorce, estates....
How would you counsel them? This is the derailment in Ohio which is releasing a significant amount of highly toxic chemicals into the air and ground.
I know Georgia is a buyer beware state for home buyers. Sellers are expected to disclosure latent defects and be honest with disclosures, but we know that doesn't always happen.
Is this something that is easily discoverable with "standard" due diligence?
I see things like this - and even violent crimes at a home for sale - as a very slippery slope. Are homes with "pasts" stigmatized if no one learns of their past? From the appraisal side, this could also get sticky as what if the bank forecloses and then it comes out that "oh yeah, that home was were a bazillion gallons of vinyl chloride was released".
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