-How do in ground oil tanks affect selling or buying a home?
You are required by most banks today to replace aging underground storage tanks (UST) prior to their approving the mortgage of your buyer. In addition, many insurance companiess will not insure the property with a buried oil tank. They do not want to insure a property with a potential insurance liability.
-How do I know if the tank is leaking?
You don't know until the tank is removed. Although, there are some telltale signs that could be indications of potential problems brewing.
-Can I deactivate my tank rather than removing my tank?
Yes, but the cost difference is minimal and if the tank is accessible it is better to get the tank off your property. There are now some cities that do not allow you to deactivate the tank.
-How much does it cost?
The average cost for a basic buried 550-gallon tank removal and the installation of a 275-gallon aboveground tank runs about $3,200.00. Please note that tank size and the rising cost of steel has the biggest impact on project cost. Tanks that are installed below-ground are costlier than the aboveground tanks because they are usually now fiberglass coated and come with a manufacturer's warranty of 30 years.
-How long does the job take?
The project usually takes just one day if there are no unexpected circumstances to remove a buried oil tank and install a new tank either aboveground or back in the same location.
-What size tank do I need?
It depends on how much oil you consume during the year, the accessibility of the delivery truck, the available space in basement, garage, or above ground outside.
-How quickly can a project be scheduled?
Once a customer decides to go forward with the project, mark outs ( Dig safely, Code 753) need to be completed, permits filed and inspections scheduled.