Until the 1970s, oil was the primary way of heating a home. Therefore, most homes had oil tanks, either above ground or buried in the yard. In the past 40 years, more efficient sources for heating became more popular, and oil tanks were quickly ignored. Some of these tanks are still sitting on properties, unused — and potentially leaking.
As a REALTOR, chances are that you’ll come across questions pertaining to oil tanks, whether your client is buying or selling a home. It’s important to know the facts about oil tanks and where you can go for help.
For instance, homeowners are responsible for any oil tanks on their property. That includes any damage that could occur due to leaking or erosion.
REALTORS should be advising home sellers that they must disclose that information if their property has an oil tank.
As for anyone buying a home, a search should be made to find out if there’s an old, leaking, or hidden oil tank on the property.
A few places you may find oil tanks are
Oil tanks only last about 10 years or so, no matter where they’re placed on the property. After 10 years, serious problems can occur:
It’s vital your clients know that removing an oil tank or trying to clean up any leaks themselves will only result in more even more damage. It will likely result in even more remediation services — at their cost.
To secure a mortgage, a home buyer may need proper documentation concerning the proper removal of oil tanks as well as remediation services. They might even need it for the home sale to go through.
Our oil tank removal team will
Contact Victoria’s number one tank service today with any further questions, or to get started on any tank removal and remediation services. We provide expedited service to REALTORS to assist in time-sensitive situations. Often times oil tanks need to be removed during the subjects period and for this reason, we prioritize and respond very quickly to real estate deals.