Would you buy this ? (real estate, rental, home)

[zulu400]

Originally Posted by rocafeller05

To the Op...show me a pic. & I will let you know if I would buy it.

I'll get some pics tomorrow and post it on here.

[WJFM]

I live in Nassau. I was not thinking about people stealing oil.. but more about the oil tank being exposed to elements. My oil tank is in the basement, but I was told oil tanks can deteriorate over time even in the basement due to rust etc.

Originally Posted by zulu400

No, usually you would put it on the side of your house, almost hugging the wall, but on the outside. Sometimes people put a casing on it, but its definitely placed outside.

Are you from Queens ? There is no fear of people stealing oil from the tank.... at least not yet !! I'm just kidding....

[thebobs]

Originally Posted by WJFM

I live in Nassau. I was not thinking about people stealing oil.. but more about the oil tank being exposed to elements. My oil tank is in the basement, but I was told oil tanks can deteriorate over time even in the basement due to rust etc.

True that can happen, but you can at least be able to check on it. Being above ground outside, it can also rust out, but again you can see this happening. With a below ground tank, you have no idea what state the tank is in and would not know for a while if you had a leak.

[TomMoser]

Most new oil tanks are made of fiberglass, which is more resistant to deterioration.

[AndreaII]

The seller of the house has the responsibility of abandoning the oil tank - not you. Make it part of your deal, and don't forget to get an honest truthful inspection done on the house as well. Take the time to find a good inspector. Don't use someone your realtor recommends. Go outside your area looking for a good inspector - I think what you want is an engineer to do the inspection. When you find things wrong with the house, and you will, then you can make your list of demands as to what is to be fixed.

The sellers are responsible for all the electrical, plumbing, and heating systems. They have no wiggle room - don't let them tell you the house is selling "as is." Because even if it's being marketed that way, they are still responsible for those three systems. And also, they must provide the house with a leak-free roof. Go there on a rainy day. We've been having lots of those lately, and try and get there during a downpour and look around.

I just sold my house and had some things to take care of like a frayed wire going into the electrical box, had to abandon an underground oil tank that Slomin's said they abandoned in the early 90's and didn't (trying to find the paperwork for that to go after them), had to refine a little wiring in the garage for the electric doors, and also had to install crash bars in front of the above-ground oil tank in our garage.

Hope this helps a little.

[Peter B]

There ARE many other places in this country where you'll get 5 times the house for what they are asking for this asbestos-sided home. Have you considered looking beyond the bridges and tunnels?

Originally Posted by zulu400

I like a house that has asbestos sidings and an underground oil tank....
It was built in 1980, the exterior sidings look good to me, no breaks/cracks, and I plan to abandon the oil tank (either before or after closing).....
It does not have a basement.

The neighbors house also has asbestos siding.... I have heard bad things about asbestos once its cracked open or broken... how it releases the fibers etc that cause cancer.... I am scared about that, but lets say one shingle does get damaged.... does that mean I have to change the whole sidings or I can just repair the one siding shingle ?

Also, My friend said Oh... it was built in 1980, so it should have porcelain and not asbestos.... you think its true ?
If the fibers are airborne then you have the risk of inhaling them.... as I said the neighbors house also has the same.... and I can't control what they do or how they take care of it.... so it could come into my yard/house from their house too right ? Am I being very childish and paranoid here ?

Lets say the seller refuses to abandon the oil tank. So once I buy I get someone to do it for me.... is it a straightforward process ... or depending on some finding I might have to pay a lot out of my pocket to legally abandon it ? Is this a normal occurrence here on LI ?

Sorry for so many questions..... do you think its worth looking into these issue or just walk away ? I'm a first time buyer so these things are scaring the $%&# out of me !!

[sci]

The oil tank does not have to be abandoned unless it is not being used. If the present owner is using it and does not know of any problems it is completely legal to leave it alone. If you do buy the house you can decide that it is in your best intrest to put in the new oil tank. If the house is in Nassau you will have to get a permit from the Nassau County Deptartment of Health. You have to pump out the old tank, dig down to it, cut it open, go into it and clean it out with squegees and speedy dry. This is what the inspector wants to see. Then the tank is filled in with sand.
I was told as the homeowner you can do the work yourself or hire a contractor to do it. It just has to be done legal.
The asbestos shingles are fine as long as you don't start breaking them and creating dust which gets airborne.
As long as the price is right and you like the house go for it. Good luck

[zulu400]

Originally Posted by Peter B

There ARE many other places in this country where you'll get 5 times the house for what they are asking for this asbestos-sided home. Have you considered looking beyond the bridges and tunnels?

Can't do it now as I have a good job and live in a good area for my kids future. I know I'm paying through my nose, sometimes I feel getting fired will get me out of here .... I am planning to move out eventually.... just not ready to rent out for another 5-6 years.

[zulu400]

Originally Posted by AndreaII

The seller of the house has the responsibility of abandoning the oil tank - not you.

Are you sure ???

Originally Posted by AndreaII

Make it part of your deal, and don't forget to get an honest truthful inspection done on the house as well. Take the time to find a good inspector. Don't use someone your realtor recommends. Go outside your area looking for a good inspector - I think what you want is an engineer to do the inspection. When you find things wrong with the house, and you will, then you can make your list of demands as to what is to be fixed.

Yeah of course.... I'm planning on that for sure.

Originally Posted by AndreaII

The sellers are responsible for all the electrical, plumbing, and heating systems. They have no wiggle room - don't let them tell you the house is selling "as is." Because even if it's being marketed that way, they are still responsible for those three systems.
And also, they must provide the house with a leak-free roof.

Again... is this set in stone ?

Originally Posted by AndreaII

Hope this helps a little.

It sure does .... Thanks a bunch.

[totallyfrazzled]

Standard contract of sale language is that "the roof shall be free of leaks" (unless the house is being sold "as is" because it's basically a teardown).

Tom, I found a photo of the fiberglas above-ground type here. No prices though I suspect they may be more expensive than the old style steel ones?

ZCL's Fiberglass Storage Tanks for Home Heating Fuel Oil

This page also has some good comparison photos of the different types of tanks. The fiberglass underground ones look like a giant plastic Xmas ornament!

Windmill Oil Tank Service - Services