I bought a preowned home two years ago and when i initially looked at it there was a huge pile of used lumber at very back of property. I was pretty sure it was old penetrated stuff but didn't discuss it with realtor other than ask if seller was cleaning it up. Long story short,I made and offer that was turned down and realtor called me several days later to say buyer was ready to negotiate. Realtor and I have been acquainted a few years and she knew I had trailers and such so she mentioned the old lumber pile saying most buyers wanted it gone but buyer made excuses for not taking care of it. A little light came on so while waiting for the contract I called the landfill to ask about disposing of green treated lumber. "OH no you don't" they said and gave me # for state agency with a list of approved hazardous waste disposal companies that could handle contaminated wood. I got estimates and when contract arrived the property condition report didn't mention the wood nor hazardous material. I talked to realtor about the consequences of sellers and real-estate brokers concealing information and of course she agreed that damages sometimes exceed price of property when all the dust settles. I attached an addendum with one price while reserving right to recourse on condition report and a second,lesser price accepting property as is and waiving right to recourse on condition report. A new condition report was made recconizing possable problems with material stored on property. I now have treated lumber worth more than new lumber that is available. I've pulled out and used some and even though exposed to weather and piled willy nilly,90% are straight as an arrow.
Now a question for the brain trust. What % of material would be fair payment to someone for pulling out,moving 50 yards on property and neatly stacking if I find someone who recognizes value of it? And of course I'd appreciate opinions on whether it's an asset or a liability.
