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I'm feeling more than a bit worried about the buried oil tank at the house we just signed a contract to purchase. I did not research this soon enough prior to signing the contract and I feel let down by our attorney for not flagging the issue so we could negotiate as I've belatedly seen recommended in prior threads.
Assuming the tank has not leaked - the sellers claim their usage has been consistent - does anyone know about how much it is going to cost to have it abandonded????
There is a company called C2G located in farmingdale. You may want to contact them. They also have a web site. They have provided us with lots of good and cost effective information. I have heard that an average price to abandon a tank is about 2500.
I am in similiar situation. Petro oil quoted me to abandon and replace with a 275 gal. either in the basement or outside as being roughly $3000. That is with abandoning a 1000 gal tank. Also, in suffolk county, you don't need any testing prior to abandonment.
I'm wondering if that cost of $2500 is for removing it from the ground. I prefer to fill it with foam or sand and leave it there. Will make some calls on Monday and let you know what I find out.
I got a quote today from Windmill Oil Tank Service 516-739-6059.
To abandon the tank - clean out and fill with foam is $560 for a small tank, $870 for a 550 gallon tank & 1150 for a large tank. +$50 for a certificate.
We used windmill twice and that is about right. No problems with them and good paperwork provided to town and for the closing. It really is no big deal, but certainly all of my buyers requested it, and we knew it was coming and was our responsibility. Try and talk to the sellers and maybe they will split it with you, otherwise, call your lawyer to the mat and hold him responsible for not doing his job. Every LI lawyer knows about this in RE deals and any good one automatically writes it in the contract!
OK, exact cost after rebate is 2975 with sand filling-an extra charge. And that's an outside installation since there's no place close enough in the basement.
Anybody know the average cost of removing an underground oil tank? Thanks.
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Hope this Helps
