Most Crucial Part Of Your Home Inspection
Is There An Oil Tank Present?
Most Crucial Part of Home Inspection:
Presence of Oil Tank
If you are a homeowner looking to purchase a new home there are several well-documented steps to the house buying process. A real estate appraiser will come to visit the property to estimate the value of the home based on condition, improvements made/needed, location, and other properties in the area.
When the seller and buyer of the home come to an agreement there will be a home inspection. The inspection is performed by a professional who will hand over the inspection report to the potential buyers. The report will include a thorough examination of the foundation, the roofing, the HVAC system, and the plumbing throughout the house, amongst other things.
Avoiding, omitting or lying about major problems can not only anger buyers if you’re lucky. The worst case scenario legal issues will arise later on. Therefore, the inspection is utterly crucial, so that the buyer knows exactly what they’re getting into, and what potential issues may arise.
Obviously, the older the property you’re looking at, the more structural problems may exist and need addressing. If this is the case, often the seller will be more receptive to a compromise on price. A home inspection can be a useful tool in negotiation for both the seller and buyer alike.
Be Aware of Underground Tanks
In Rhode Island & Massachusetts, another important aspect of a home inspection is whether or not there is the presence of an oil tank on the property. The seller of the home might not always be aware that an oil tank is underground on their property. Perhaps it was an old way prior owners had used to heat their homes long ago.
The majority of people nowadays use a gas or electric furnace, and so this may be the case with the current homeowner. Often if the tank is out of sight it is out of mind. If the homeowners are aware that the oil tank is on their property, they are legally obligated by law that they release this information to the potential buyers.
Oil tanks can have a major negative environmental impact and it’s important that the new buyers know of its presence to avoid a catastrophe in the future.
The Process Of Oil Tank Search
Some people will have no idea that an underground oil tank is on their property. In addition, if there is an inoperable above ground oil tank on the property, they will often assume it’s empty. Which more often than not, is not the case. This is why an oil tank search is so important.
The tank search is done by a professional who will begin to look for telltale clues as to the presence of an oil tank. Examples of this could be oil-fired furnace, pipes or lines indicating oil lines or oil burner switches. After searching for clues the professionals will use detection equipment to hunt for any buried metal objects. This equipment can detect metal up to eight feet below the surface.
This detection equipment acts as a second line of defense when it comes to trying to find an oil tank on a property prior to the purchase of the home.
Oil Tank Search: Tank on Site
What do you do now that you have found an oil tank on your potential property? If an oil tank is found, the first thing to figure out is whether the tank is active or decommissioned. If the tank is active, the potential buyer can discuss with the owner whether they would like the oil tank removed or not prior to moving in.
In both cases, active and decommissioned, it is important that there is a thorough check for any potential oil leaks. Both now or signs of future leaks to come. This includes soil sampling as well as an examination of the tank itself. If there have been any oil leaks, the current homeowner will likely be responsible for any of the cleanup costs prior to the new homeowners moving in. Oil leak cleanup can be extremely expensive. It is best to avoid this altogether. Be vigilant.
To avoid a potential legal hassle, a smart for the homeowner would check for the presence of an oil tank before ever listing their home on the market. This way they can fully disclose all information and speed up the selling process. As a home buyer, be smart about the way you buy.
Take all precautions and know all the potential risks that can accompany an oil tank. Give Jacobs Property Solutions Oil Tank Removal a call today at if you have any questions regarding your above-ground heating oil tank or boiler removal.