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Hello, all, I would appreciate some advice on the following. I intend to purchase a house in Queens. According to the home inspection report, the house uses oil heating and the oil tank is located underground. Given this, my attorney has advised me to request the seller to remove the underground oil tank from the ground, replace it with a fiberglass oil tank which is above ground and arrange for tests to ensure that there is no environmental contamination before the sale. The seller shall bear the costs.
I agree with the view of my attorney because of various issues related to oil tanks I have come across on the Internet. However, the seller seems to reluctant to do so. Thus, I would be grateful if someone can help to provide an estimate of the total costs in doing the above. A breakdown will be useful. The estimate can help me in negotiating a lower selling price. Thanks.
the seller is reluctant, not because of the cost of testing removal or new install, but because if it is tested and there is contamination clean up could cost more than the home is worth and he would not be able to sell the home until clean up was complete or a purchaser had assumed cost and perhaps posted a bond for clean up
Ahh sorry as you ask, if one is fortunate clean up is 90,000 and if not over 1 million, it depends on type of fuel, the size of spill and if it has spread to any other neighboring properties if their is ground water contamination, a great many factors
It doesn't have to be a big deal to have an in ground oil tank certified as abandoned.Plenty of companies do this for a few thousand dollars.They dig out the area above the tank,cut a big hole in the top of the tank,siphon out all of the oil and residue,clean the inside of the tank,inspect the tank and then fill it with sand and put the soil back on top.The whole procedure takes about 1/2 a day.Finding leaks or problems is rare.
It doesn't have to be a big deal to have an in ground oil tank certified as abandoned.Plenty of companies do this for a few thousand dollars.They dig out the area above the tank,cut a big hole in the top of the tank,siphon out all of the oil and residue,clean the inside of the tank,inspect the tank and then fill it with sand and put the soil back on top.The whole procedure takes about 1/2 a day.Finding leaks or problems is rare.
What this person said. My old heating company used to do this all the Time. Convert the house the gas heating and we would so this above procedure for the in ground oil tank, certify as abandoned, pass inspection and your on your way. Couple of thousand as for costs.
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