Tips For Dealing with Oil TanksUnderground oil tanks are the #1 deal killer in the New Jersey real estate market. Many oil tanks are buried and abandoned and are only discovered when an unsuspecting owner tries to sell. The reason it's such big deal is because a leaky tank can cause serious environmental contamination.
There are, however, several ways to protect yourself from risk of having an abandoned oil tank pop up on your property. Whether buying or selling a home, an oil tank inspection is a must. If a tank is discovered, it's important to get it tested to assess the overall condition of the tank. If it's found to be leaking, it's critical to get a certified environmental remediation company to evaluate the severity of the contamination. For sellers, all of this should be done BEFORE putting the property for sale. For buyers, a tank sweep is a must. Buying a home with an oil tank can be very risky, so use caution and consult with an attorney and professional oil tank removal company before deciding what to do.
2 Comments
8/22/2018 09:20:21 am
I never took into account that oil tanks could mean that the property is contaminated. It was great how you mentioned that one should consult with an attorney and professional oil tank removal company before selling the home. Do you have any tips for choosing a good oil tank removal company?
Silvio
8/22/2018 10:23:45 am
Hi Taylor, Thanks for the comment! As far as tips of choosing an oil tank removal company, I recommend that you look at the company's ratings online, reviews, and check how long they've been in business. Call a few companies to compare quotes and scope of work. Also ask friends, family, and neighbors if they know anyone that has used a company like that recently and what their experience was. Hope that helps! Leave a Reply. |
At Realty 33, We tap into 25+ years of experience and market know-how to help our clients make streetwise real estate decisions.
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