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Undisclosed Oil Tank, Russell Hayek

Discovering an undisclosed oil tank: If the current owner does not have any paperwork on the oil tank, then assume such paperwork does not exist. Your inspector examined every nook and cranny of the property, searching for signs of an in-ground oil tank. We checked records, scrutinized the landscape for old oil tank lines, inspected the foundation for holes, in-ground tank scan and still no oil tank. After more searching we found the oil lines. What do we do now? Would we be responsible for environmental and financial implications, responsible for oil leakage and the associated damage it could cause to the water system, Do we proceed with the purchase, accepting the responsibility that comes with it, or do we cut our losses and search for another house? The phrase let the buyer beware should be listened too and an appropriate investigation should be performed. Under no condition purchase the house, no matter how GOOD THE DEAL is, until the ground is tested by a licensed environmental company for any contamination. While it may be tempting to proceed with the purchase the potential risks and costs associated with oil tank issues should not be underestimated, it might be wise to explore other housing options. This post is limited and does not cover some of the more complicated scenarios that can arise with oil tanks and soil testing. Be sure to seek the advice of local experts about underground oil tanks.

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