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.
Susan M. Moon REALTOR®, ABR, CRS, GRI
TOMLINSON SOTHEBY'S INTERNATIONAL REALTY
200 Main Street Sandpoint, ID 83864 Cell 208-290-5037
WWW.SUSANMOON.COM Email: Susan@susanmoon.com
Both Jim and I wanted to write you a note to thank you for your fantastic service in helping us sell our ranch in Idaho. From the very beginning you were "on it" and very involved in ensuring that we were pricing and staging our unique home correctly. Your consistently upbeat advice and care enabled us to obtain a solid sale. After the sale you continued to act as our voice to the new buyers to ensure an easy transition for us.J & L