Active Buried Oil Tank (first time home buyer, buyers, schools)
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Good Luck trying to get homeowners insurance! I had a very difficult time! Abandon the tank ASAP! 4k +/- can save you a headache & EPA lawsuits should you have a problem!
Make SURE you also get a certificate from the Co abandon the tank as proof it was done. That 4K +/- is just to seal it with foam. To actually take it out would probably cost twice as much.
Interesting you mention insurance. As I understand it only a few companies even cover oil spills State Farm and I believe Allstate are among the few. Another thing for the OP to consider.
Also EPA has nothing to do with oil tank spills, it's the NYS DEC. if there is Spill/soil contamination you get a spill number if you don't remediate within a certain amount of time you get warnings and eventually fines.
Interesting you mention insurance. As I understand it only a few companies even cover oil spills State Farm and I believe Allstate are among the few. Another thing for the OP to consider.
Also EPA has nothing to do with oil tank spills, it's the NYS DEC. if there is Spill/soil contamination you get a spill number if you don't remediate within a certain amount of time you get warnings and eventually fines.
I'm not talking about "covering you, should you have a spill"
Mine would NOT cover me at all because of a buried tank. I went through 4-5 insurance carriers before I found one to insure my home when I first purchased it.
I'm not talking about "covering you, should you have a spill"
Mine would NOT cover me at all because of a buried tank. I went through 4-5 insurance carriers before I found one to insure my home when I first purchased it.
Uh I wasn't saying that's what you meant. I was just adding that info for the Op's benefit. Try actually reading my post.
Its crazy that the seller agreed to a soil test. If oil is found the DEC has to be notified and the seller could be stuck with a cleanup that could cost them thousands. Even if the test comes back clean abandon the tank. Do not remove. If you remove they will do another soil test and if anything is found you are stuck with the bill. Abandonment does not require testing. Then you can get a new above ground outside the home or in your basement.
I agree with all of this. I can't believe their lawyer and/or RE agent has advised this is a good idea.
If the tank is being used, what do you want them to do? Abandon the tank and put in a basement or outside tank?
Are you talking about putting a full basement under your addition? If not then the abandoned tank should not be an issue.
There's different rules in Nassau vs. Suffolk as far as abandonment goes. When we bought our house in Suffolk two years ago it had a large (550 gallon) in ground oil tank that was still in use. Fortunately in Suffolk no testing needs to be done before or after abandonment. We got a couple of quotes, and ended up going through Meenan for both the abandonment as well as the installation of a new above ground tank. We did not have room in our basement, so we ended up selecting a high end Roth 275 gallon outdoor tank. Total cost for everything was $5200.
There's different rules in Nassau vs. Suffolk as far as abandonment goes. When we bought our house in Suffolk two years ago it had a large (550 gallon) in ground oil tank that was still in use. Fortunately in Suffolk no testing needs to be done before or after abandonment. We got a couple of quotes, and ended up going through Meenan for both the abandonment as well as the installation of a new above ground tank. We did not have room in our basement, so we ended up selecting a high end Roth 275 gallon outdoor tank. Total cost for everything was $5200.
No testing in Nassau either for abandonment. Only removal.
I agree with all of this. I can't believe their lawyer and/or RE agent has advised this is a good idea.
Yeah that's crazy. I'd let the buyer walk before I allowed soil testing unless i was completely desperate to sell for some reason. A friend of mine bought a house last year and found out the house had an oil spill number in the past, it was because the owner decided to remove rather than abandon the tank. The test was positive and cost them 20k in remediation tearing apart the yard.
Statefarm wouldn't insure my house with the underground tank...converting to gas is best idea, abandoning and replacing with above ground which will cost close to a full gas conversion would be my second choice. Dont test the soil its opening pandora's box
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