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Should You Remove an Oil Tank Before Selling Your Home?

Should You Remove an Oil Tank Before Selling Your Home?

Are you selling your home soon, or do you plan to sell in the future? There’s a lot to think about, from fixing up your house for maximum curb appeal to negotiating offers with potential home buyers. However, if your property has ever used oil heat, there may be something you’re forgetting. Some homes heated by oil use tanks located in the basement or aboveground on the property, but others have underground storage tanks. 

We’ve already covered how to remove an old oil tank from your property to mitigate the risks of leakage, fines, and other issues that can come from an old buried tank lurking somewhere out of sight. But if you’re selling your home, what should you do? Is removing the underground oil tank your responsibility, or can you leave it to the next homeowner?

At Superior Tank & Energy, we’ve performed many an emergency oil tank removal for property owners throughout the Philadelphia area. In our opinion, you should remove that old oil tank before you sell your home. Here’s why:

Eliminate the Risk of Leaks

Leakage leading to soil contamination is the main risk posed by underground oil storage tanks. As tanks age over time, they rust and deteriorate, causing holes and cracks to emerge. Then, oil seeps out through the holes and cracks, posing a threat to water quality, the local ecosystem, and even things like your property’s utility and plumbing lines. Risking an oil leak is risking thousands or even tens of thousands of dollars in fines, and that’s money nobody wants to have to spend.

Boost Your Property Value

The world of real estate is all about property value, and calling an underground oil tank removal company to get rid of that rusty old tank definitely increases your property value. Because the issue is dealt with, you’re more likely to receive favorable bids and your realtor can advertise the property more effectively.

Avoid Legal Consequences

You can’t hide the truth about your oil tank. There are many states where you are required to have an independent inspector look things over before you sell a property. Don’t risk concealing the “buried truth.” It will come back to bite you sooner rather than later — and the consequences can get very ugly.

If you ignore, fail to address, or play dumb about your property’s old buried oil tank, you could face significant legal consequences in addition to leakage fines. You could have a claim filed against you by the township, the buyer’s home insurance company, or other involved parties. In some serious cases, it might even lead to criminal charges levied by the state government.

Provide the New Owner Peace of Mind

If you were about to purchase a new property, wouldn’t you be grateful that the previous property owners dealt with any underground storage tanks? The thought of a leaking oil tank somewhere on the property is enough to make anyone anxious. Even simply providing the results you received when you tested the soil for contaminants can help a potential buyer feel better about their purchase. 

Don’t Know Where to Start? Call Superior Tank & Energy!

Need help removing an old oil tank on your property? Don’t wait before you sell your house. It’s worth it to spend the extra time taking care of things now. Superior Tank & Energy works on all things oil tanks, so you can rest assured we can remove the old tank from your home ASAP. Need other property care services? We also provide snow removal in Philadelphia, so be sure to remember our name this winter, too. We’ll be happy to speak with you about anything you need, so reach out today!