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Feb 12th, 2024
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 Remidiated Land???
#8260519
05/08/21 09:54 PM
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Joined: Aug 2012
Posts: 15,570
TexFlip
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In the process of purchasing a piece of land that had a gas well fire on it about 20 years ago. Because of the fire, a couple acres were used for remediation and can't have a residence or a water well above a certain depth. We were given all the lab work and sample data to be reviewed during the option period. Has anyone on here delt with this on either side of the transaction. Just wondering what to expect.
Just to make sure that it is done thoroughly, I go both ways.
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 Re: Remidiated Land???
[Re: TexFlip]
#8260538
05/08/21 10:37 PM
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Joined: Aug 2009
Posts: 22,716
BigPig
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I would probably call the EPA
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Re: Remidiated Land???
[Re: BigPig]
#8260546
05/08/21 10:58 PM
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Joined: Nov 2009
Posts: 3,909
leswad
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I would probably call the EPA 
![[Linked Image]](https://i.postimg.cc/y8Zc03yD/BBED0-AA0-9-E2-E-4939-BDA8-43-EE610768-C3.gif) FJB
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Re: Remidiated Land???
[Re: BigPig]
#8260553
05/08/21 11:09 PM
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Joined: Aug 2012
Posts: 15,570
TexFlip
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I would probably call the EPA Them and TCEQ. Got the reports from both.
Just to make sure that it is done thoroughly, I go both ways.
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Re: Remidiated Land???
[Re: TexFlip]
#8260561
05/08/21 11:20 PM
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Joined: Aug 2005
Posts: 31,955
txtrophy85
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You can pay for a Phase 1 or Phase 2 environmental report. Will tell you what still exists on the property around the well.
What are you wanting to do with the property?
For it is not the quarry that we truly seek, but the adventure.
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Re: Remidiated Land???
[Re: TexFlip]
#8260579
05/08/21 11:42 PM
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Joined: Mar 2013
Posts: 5,039
jetdad
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How big is the property? If the remediation is confined to two acres does it affect your intended use? If a phase 2 was done there were probably core samples taken to see if there are any issues with migration. It will come up again when you go to sell, so it may not be desirable to some buyers. If you are borrowing any money it may give your lender heartburn. Some lenders don't like to be in the chain of title on a piece of property with environmental issues in the event of foreclosure.
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Re: Remidiated Land???
[Re: txtrophy85]
#8260584
05/08/21 11:48 PM
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Joined: Aug 2012
Posts: 15,570
TexFlip
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You can pay for a Phase 1 or Phase 2 environmental report. Will tell you what still exists on the property around the well.
What are you wanting to do with the property? We have those but the most recent is from 2017. There are homes with water wells within 100 yards of the well site. We are considering ordering new reports. The area that is affected by the remediation is much bigger than the actual well site. It'll be a subdivision of three to five acre tracts.
Just to make sure that it is done thoroughly, I go both ways.
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Re: Remidiated Land???
[Re: jetdad]
#8260588
05/08/21 11:51 PM
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Joined: Aug 2012
Posts: 15,570
TexFlip
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How big is the property? If the remediation is confined to two acres does it affect your intended use? If a phase 2 was done there were probably core samples taken to see if there are any issues with migration. It will come up again when you go to sell, so it may not be desirable to some buyers. If you are borrowing any money it may give your lender heartburn. Some lenders don't like to be in the chain of title on a piece of property with environmental issues in the event of foreclosure. It's about 40 acres. The remidiated land will be retained by us and we are paying cash.
Just to make sure that it is done thoroughly, I go both ways.
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Re: Remidiated Land???
[Re: TexFlip]
#8260596
05/09/21 12:04 AM
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Joined: Mar 2013
Posts: 5,039
jetdad
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Does TCEQ consider the issue contained and no further action required? If so, make it a park or green space. Then it will be an amenity considering your intended use.
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Re: Remidiated Land???
[Re: jetdad]
#8261848
05/10/21 04:45 PM
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Joined: Aug 2012
Posts: 15,570
TexFlip
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Does TCEQ consider the issue contained and no further action required? If so, make it a park or green space. Then it will be an amenity considering your intended use. That's kinda what I want to do with it. My boss wants to sell it at a discount to with one of the adjacent lots. Still a long way from that. Executing the contract this week with a 30 day option period.
Just to make sure that it is done thoroughly, I go both ways.
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Re: Remidiated Land???
[Re: TexFlip]
#8261862
05/10/21 05:04 PM
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Joined: Oct 2004
Posts: 39,549
redchevy
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Hmm the film Erin Brockovich with julia roberts comes to mind.
Is the site already remidiated? Have worked on a few properties that were contaminated with lead based paint from neighboring structures that were sand blasted and not contained. Its a mess. I'd stay away.
It's hell eatin em live
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Re: Remidiated Land???
[Re: redchevy]
#8261869
05/10/21 05:10 PM
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Joined: Nov 2017
Posts: 19,289
Biscuit
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Hmm the film Erin Brockovich with julia roberts comes to mind.
Is the site already remidiated? Have worked on a few properties that were contaminated with lead based paint from neighboring structures that were sand blasted and not contained. Its a mess. I'd stay away. Haha same thought I had
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Re: Remidiated Land???
[Re: TexFlip]
#8261932
05/10/21 06:05 PM
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Joined: Aug 2005
Posts: 31,955
txtrophy85
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You can pay for a Phase 1 or Phase 2 environmental report. Will tell you what still exists on the property around the well.
What are you wanting to do with the property? We have those but the most recent is from 2017. There are homes with water wells within 100 yards of the well site. We are considering ordering new reports. The area that is affected by the remediation is much bigger than the actual well site. It'll be a subdivision of three to five acre tracts. I would certainly do a phase II and add the findings into a sellers disclosure. At the very least
For it is not the quarry that we truly seek, but the adventure.
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Re: Remidiated Land???
[Re: TexFlip]
#8262000
05/10/21 07:45 PM
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Joined: Jul 2010
Posts: 6,864
HuntnFly67
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I have seen the presence of brownfields blow up deals and some sites sustain DEEP discounts due to the required amount of remediation.
If you have a clean bill of health for the site (I wouldn't call the well depth and building restrictions clean) the discount may not be too stout. I can think of several sites in industrial areas that have a decade or more on the market and have yet to move due to their 'issues'.
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Re: Remidiated Land???
[Re: TexFlip]
#8262004
05/10/21 07:50 PM
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Joined: May 2010
Posts: 4,493
1955
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Re: Remidiated Land???
[Re: TexFlip]
#8262043
05/10/21 08:34 PM
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Joined: Oct 2004
Posts: 39,549
redchevy
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Posts: 39,549 |
Is there no local coop water available?
It's hell eatin em live
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