Underground tank

Should a client be worried about an old unused underground oil tank on property?

Yes, and the seller should have it removed and cleaned up before selling the property.
If any contamination of the soil occurred, it could get pretty expensive to clean up.


That doesn’t mean it is not a concern as Marcel stated, clean up can get rather expensive.

For sure please write this hard . Do not miss them.
I am not kidding underground oil tanks in my area can cost from $4,000;00 too $400,000;00 to remove and clean up

Yes if they are close to the House the new owner is out of luck if it gets into there foundation. This has happened in Canada and like Roy said can cost big bucks.

Best to check on what your state requirements are.

In NC home heating oil tanks are not regulated, They are only a problem if there is a KNOWN leak or spill. Pumping the tank empty of water/oil and filling with an inert foam meets “closure” requirements. The state also has a trust fund that helps with the clean up cost if there is a confirmed leak and the tank needs removal.

As someone once said

“Worrying is like rocking in a rocking chair. It gives you something to do but it doesn’t get you anywhere.”

Underground Oil Tank Information

Yes, this tank should be removed as what you are saying it’s very old so it may cause problem to the new owner.

Watch out: some companies will try to abandon an underground tank ‘in place’ using foam or sand. Years later the tank rusts out and subsides.

Also watch out for spills. When I helped inspect gas station tank remediation projects, there was always a plume of product at the filler tank (the drivers might be asleep at the valve and dump a hose full of product on the ground.

Any UST must be remediated prior to close. It is not a small problem at all. And the paper work is naaaaaasty.

You should check your areas regulations. http://www.epa.gov/oust/faqs/heatoil.htm I bet any one of the companies that sell heating oil will know. Nevada has a program in place to help with costs.