Buried Oil Tanks?

I am closing on my house next week in Nassau County and just realized that there is a buried oil tank on the property. The house was converted to gas, but the tank was never removed.

This isn't unusual, but I may have to get the soil tested to make sure that the tank was closed properly and that there are no leaks.

Have any of you ever dealt with this issue? Does it hold up closing? Does the seller have any liability for the fuel tank?

Any thoughts are appreciated.

Thanks

Re: Buried Oil Tanks?

I would raise this issue with your lawyer first and see what they say!

Re: Buried Oil Tanks?

See if you can get any paperwork on it. If you ever want to sell, someone else might want to see the document too.

Re: Buried Oil Tanks?

def. discuss with your attorney to see what are the proper steps to take in the situation.

Re: Buried Oil Tanks?

If the owner of the house has abandoned the tank, he needed to get a company in to do it legally. If he didn't and there is still oil left in that tank and that tank leaks, you will have one heck of a mess on your hands. It is, really, not that expensive to have done and if you close on the house without the seller doing it first, then, I would suggest you get it done as soon as you can. You can have the tank taken out, but, it is much cheaper and easier to have it filled in with foam or sand. If the seller already did this, he was given documentation stating what was done and when.

Re: Buried Oil Tanks?

You should discuss this with your attorney. You might be out of luck though because it wasn't included in your contract. Good luck!

Re: Buried Oil Tanks?

I checked with my attoney. Under the Health Code, the seller (well, his parents, since he is an executor of their estate) would have had to submit paperwork upon converting to gas that they properly closed up the tank, etc. So, we are requesting this documentation from them. If they don't have it (or never got the paperwork in the first place), the seller will have to resolve this issue before closing.

Thank goodness my attorney added a rider to the contract in which the seller represented that there were no fuel oil leaks, spills, etc. and that there is no underground fuel oil tank on the premises. Because of the rider, the seller has to fix everything prior to closing so I should be in the clear and not have to pay anything.

So, I'm really excited. Thanks everyone for your replies.

Re: Buried Oil Tanks?

Re: Buried Oil Tanks?

Re: Buried Oil Tanks?

good to hear you have an attorney who is top of things...they are so rare!

you can always just call the town too. abandonment of the oil tank needs to be filed with the town for their own records. if you need a good soil tester, let me know. as a realtor you come across this problem quite frequently on LI! good luck!