Buying A House With An Underground Oil Tank In Nj

No buyer is buying a house with an underground oil tank said nancy lastra. How to protect yourself your savings and your investment. Buying an nj house with an underground oil tank you ve just recently bought a house in new jersey and the house has an underground oil tank.

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American geophysics specializes in nj oil tank sweeps have your property scanned to avoid any unforeseen costs when buying or selling a property.

Buying a house with an underground oil tank in nj. The standards laws and liability of having an underground storage tank on your property are becoming increasingly strict and regulated. Buying a house with a decommissioned oil tank can cost you. Oil tanks can interfere with buying and selling a home. In other words if you buy a house with an underground tank and a year later you pull the tank to convert to natural gas and there is a leak then you are responsible for the cleanup.

It is a mistake to buy a house with an in ground oil tank. When it comes to the presence of an underground oil tank you can t necessarily be sure of it when purchasing real estate in new jersey. These tips can help you. In the event of a leak into an underground aquifer is.

Let s get right to the point of what you need to know about underground oil tanks. Selling a house with an oil tank can make both the owner of the house and the realtor pull their hair out. Find out if there is a buried tank on the property and determine whether the tank is actively in use. For right or for wrong houses with oil tanks carry a stigma that can reduce the curb appeal of a home.

Bamboozled column for nj advance media and is the founder of. However if you run across one be aware that oil cleanup costs can be high. Here s what you need to do. The risk of soil and water contamination along with the health risks and cleanup costs can go with it.

There are few homes on the market these days with a decommissioned oil tank. It is possible that the owner is aware of the oil tank and will disclose it to you as most real estate attorneys agree they should however it is also possible that the seller purchased the property unaware of an existing oil tank or is attempting to. You don t know very much about underground or above ground oil tanks but you do know that you want to investigate their maintenance needs before you move into the house. Still the fuel merchants association of new jersey estimates that about 92 000 remain in the state.

One don t google oil tank leak you will see scary pages no kidding. So now you re looking around to find out who does this testing and how much it costs. You have probably been told that you need to test the tank before buying a home to make sure there s not an issue. Here is something most people won t tell you.