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I can't understand why underground oil tanks aren't illegal by now.
The newer inground tanks are double wall..poly coated...have cathodic protection and typically come with a 30 yr warrantee. They're not a popular sell for homeowner sites as most homeowner's ins. companies won't even insure those! They are typically used at gas stations, chemical companies, etc.
I can't understand why all gas stations aren't sites of massive oil leakage. Every once in a while I'll drive past one that's dug up, and I assume that's what's going on, but curiously it doesn't seem to be an issue.
On another note: What happens if oil is actually discovered and it will cost $200K to clean it up? From what I hear, homeowner's insurance doesn't cover it. Plus, since my tank hasn't been used in years, I don't have insurance from the oil company. Obviously, I don't have hundreds of thousands of dollars sitting around.
Honestly, all this stuff sounds like another NJ scam to benefit the enviro. remediation companies that probably donate big time to the politicians.
On another note: What happens if oil is actually discovered and it will cost $200K to clean it up? From what I hear, homeowner's insurance doesn't cover it. Plus, since my tank hasn't been used in years, I don't have insurance from the oil company. Obviously, I don't have hundreds of thousands of dollars sitting around.
Honestly, all this stuff sounds like another NJ scam to benefit the enviro. remediation companies that probably donate big time to the politicians.
It probably won't cost you that. What year did you fill the tank? I believe Homeowners insurance covered it if leak backs to 2005.
If you don't pull it up and you want to sell down the road, no one in their right mind would buy a liability. That is exactly what I consider it having lived thru a remediation. The whole process still haunts me. One of the people doing the remediation wanted to buy the house for $200,000 which was less than what I payed for it. He kept asking me, it was sick. I sold it in 06 after it was over for $464,000, so he was nuts, and that was after the market was declining.
If the leak doesn't hit groundwater then its not big money, mine did. Groundwater in Manalapan is 6 feet under, not much leasway not to hit it.
Mine went under the crawl. I had to have herical piers to lift the house. None of this was fun.
On another note: What happens if oil is actually discovered and it will cost $200K to clean it up? From what I hear, homeowner's insurance doesn't cover it. Plus, since my tank hasn't been used in years, I don't have insurance from the oil company. Obviously, I don't have hundreds of thousands of dollars sitting around.
Honestly, all this stuff sounds like another NJ scam to benefit the enviro. remediation companies that probably donate big time to the politicians.
In your situation, age dating would be appropriate. If you can prove that the tank leaked prior to Aug. 2005 and if it impacted a third party - i.e. ground water or neighbor's property, you can file a claim with your ins. company that you had at that time. If you still don't have insurance coverage, there is a Grant program available thru the NJDEP and NJEDA for the costs associated with the tank removal as well as the cleanup activities.
And by the way... this remediation contractor is neither "rich" nor do I contribute to any political party.
It probably won't cost you that. What year did you fill the tank? I believe Homeowners insurance covered it if leak backs to 2005.
If you don't pull it up and you want to sell down the road, no one in their right mind would buy a liability. That is exactly what I consider it having lived thru a remediation. The whole process still haunts me. One of the people doing the remediation wanted to buy the house for $200,000 which was less than what I payed for it. He kept asking me, it was sick. I sold it in 06 after it was over for $464,000, so he was nuts, and that was after the market was declining.
If the leak doesn't hit groundwater then its not big money, mine did. Groundwater in Manalapan is 6 feet under, not much leasway not to hit it.
Mine went under the crawl. I had to have herical piers to lift the house. None of this was fun.
Diane G
Insurance companies will sometimes opt. to try and buy the home as it may be less expensive to tear down the house, cleanup the oil contamination and then sell the property (land) once the site is clean. But having one of the contractors / consultants working on the site offering to lowball you into selling them the house, that's sleezy! I would have reported them to your ins. company!
I have a few Helical Pier projects to do this year. They tend to make me a little nervous... having a house on "stilts" while you're underneath digging is a bit scarey! Not to mention that most ins. companies are too cheap to pay for a hotel for the homeowners who tend to remain in the house while it's on stilts! That always boggles my mind! Penny wise, dollar foolish!
Insurance companies will sometimes opt. to try and buy the home as it may be less expensive to tear down the house, cleanup the oil contamination and then sell the property (land) once the site is clean. But having one of the contractors / consultants working on the site offering to lowball you into selling them the house, that's sleezy! I would have reported them to your ins. company!
I have a few Helical Pier projects to do this year. They tend to make me a little nervous... having a house on "stilts" while you're underneath digging is a bit scarey! Not to mention that most ins. companies are too cheap to pay for a hotel for the homeowners who tend to remain in the house while it's on stilts! That always boggles my mind! Penny wise, dollar foolish!
Your Right, I did not care for him. He was kind of a Smart-A- I did not tell his boss or my insurance company.
We did stay in the house when they were doing the work. It kind of made me nervous. A few niights the smell was so bad, that I pricelined a Courtyard by Marriott in Monroe. It was the only priceline hotel for that town, so I knew what I was getting. $60 a night.
Your Right, I did not care for him. He was kind of a Smart-A- I did not tell his boss or my insurance company.
We did stay in the house when they were doing the work. It kind of made me nervous. A few niights the smell was so bad, that I pricelined a Courtyard by Marriott in Monroe. It was the only priceline hotel for that town, so I knew what I was getting. $60 a night.
The NJDEP is now requiring air quality samples on residential sites! I think it's a good thing....well unless you're paying for the cleanup yourself . I had a customer actually get physically ill from the fumes. In my opinion, it's a way of justifying to the insurance company the need to send the homeowner's to a hotel!
It is good ideas to have the seller certify that there are no underground tanks but in addition I would hire someone like my company to search the grounds for buried underground tanks. If they are planning on buying a house that is using oil and has an underground tank you should get the seller to remove it and install an aboveground tank. If the seller refuses it is important to hire someone like us to evaluate the tank and soil. Once they move in we can help them get NJ grant money to remove the underground tank and install an aboveground tank.
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. I had a customer actually get physically ill from the fumes. In my opinion, it's a way of justifying to the insurance company the need to send the homeowner's to a hotel!
