I am not an attorney but it is my understanding that whenever contamination is found the government has the right to go after either the polluter or the property owner. Generally speaking if they have a major oil company on the hook, they are likely to go after them but they always have the option of going after the property owner. NFA stands for "no further action". It doesn't say "clean". However NFA is the best you can get. Sophisticated buyers always get Phase I reports (even when there isn't a known history of a gas station) and Phase II if recommended by the Phase I. If your agent and attorney didn't recommend that, you should consider getting better advise. If you aren't working with an experienced agent and a real estate attorney, you should be. There probably isn't a problem, but if there is a problem it can be very expensive so you need to take proper precautions.
Sep 1, 2015