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.
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Melissa Oliver and The O Team
18202 Main Street
Jamestown CA 95327
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Copyright 2018 Tuolumne County Association of REALTORS®, inc. all rights reserved. The data relating to real estate for sale on this website comes in part from the IDX program of the Tuolumne County Association of REALTORS® Multiple Listing Service and the Tuolumne County Association of REALTORS®. Real estate listings held by Participants or Subscribers other than PMZ REAL ESTATE include the name of the listing broker and listing agent. The information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Only single family residential homes, mobile homes and residential lots and land are included in this search. Information is deemed reliable but not guaranteed, buyer is advised to confirm all items. Information last updated on 2018-09-23.