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Home Valuation

Underground Heating Oil Tanks

April 18, 2018 by Denise Madan

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Underground heating oil tanks can pose many potential problems to both home buyers and sellers. They have been the source of many environmental problems such as contamination of surrounding soil and ground water.

Leaks are generally caused by the rust inside underground tanks or by an electrical condition sparked by electric utility lines.

Buyers should always have the tank inspected to make sure that it is structurally sound. Buyers who do not want an underground fuel tank can arrange for an above ground tank to be installed in the basement and the underground tank to be shut off. Cleanup of any leaks will also have to be taken care of.

For buyers, the underground heating oil tank should be written in the sales contract. For sellers, your lawyer should make sure that the description and condition of the underground heating oil tank is accurate and up-to-date.

Filed Under: Buying Tagged With: buy home in miami, buying real estate, heating oil tank, home buyer, home buying, real estate buyer, things to consider in buying home, underground heating oil tank

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Denise Madan

All Florida Home Team
14261 Commerce Way Suite
102 Miami Lakes, FL 33016

786-344-8004
denise@denisemadan.com

Equal Housing Opportunity | Realtor | MLS

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