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.
Shane and Dianne Sweeney Sweeney & Associates
1320 Stone Bridge Drive Suite C
Ada, OK 74820
OFFICE (580) 421-9911
FAX (580) 421-9111
"Angela, we want to thank you for all the time, energy and your successful efforts to get our Kirby house sold. We have lots of nice memories of our years there and are now focusing on new memories and our life here. We're sure we'll contact you in the feature when and if we get ready to sell our house here. Also, thank you for the SanteFe gift card, We just, this week, finished spending the remaining balance for our 47th-anniversary dinner!"Vickie & Terry Ragsdale