| Posted By |
Message |
| Pages: [1] 2 |
MommyofG
just the girls
Member since 5/05 9461 total posts
Name:
Janice
|
would you NOT buy a home b/c the oil tank is in the ground?
home owners giving a 2k bonus to get tank filled and you get an above one.
just curious on your thoughts, tia.
|
Posted 9/19/07 11:31 AM  |
| |
|
Prudential Douglas Elliman Real Estate
Long Island's Largest Bridal Resource | Long Island Weddings |
Lisa
I'm a PANK!!!
Member since 5/05 22334 total posts
Name:
Professional Aunts No Kids
|
Re: would you NOT buy a home b/c the oil tank is in the ground?
we bought a house with the tank in the ground and about 6 months after we moved in we did a heating converstion and had the tank dug up and the hole filled in
|
| Posted 9/19/07 11:33 AM |
| |
|
Blu-ize
Plan B is Now Plan A
Member since 7/05 32475 total posts
Name:
Susan
|
Re: would you NOT buy a home b/c the oil tank is in the ground?
I would ask them to do it and have them give you the documentation. It has to be done by EPA standards and has tobe inspected to abandon an underground oil tank.
Also, I would call around to oil companies and ask them about it as well as getting an above ground one. Where would you put it?
|
| Posted 9/19/07 11:33 AM |
| |
|
MrsFlatbread
Skinny jeans are in my future
Member since 6/06 10258 total posts
Name:
Baby Momma
|
Re: would you NOT buy a home b/c the oil tank is in the ground?
i think to remove the tank is thousands of dollars...my brother is going through this now. I think in fact its illegal to have it in the ground now..not sure?? I would try to negociate with the sellers to remove the tank or call companies that remove this and get a quote on how much it will cost because there could be some hidden expenses if the tank leaked. Try to have the sellers go down in price based on what you find out! Good luck!
|
| Posted 9/19/07 11:34 AM |
| |
|
Mrs-D-Girl
Love my fur baby
Member since 8/07 5183 total posts
Name:
|
Re: would you NOT buy a home b/c the oil tank is in the ground?
Mine is underground. You can just have it filled, capped off and install a new one above ground.
It's not a big deal IMO
|
| Posted 9/19/07 11:35 AM |
| |
|
smdl
I love Gary too..on a plate!
Member since 5/06 32461 total posts
Name:
me
|
Re: would you NOT buy a home b/c the oil tank is in the ground?
Do you know if they have issues with it? Like leakage, etc..
If they give you the money for an above ground one and money to dig the old one.. I would buy it. I just depends on the cost. Or you could "include" it in the offer price.
Def. have an inspection.
|
| Posted 9/19/07 11:35 AM |
| |
|
Mrs-D-Girl
Love my fur baby
Member since 8/07 5183 total posts
Name:
|
Re: would you NOT buy a home b/c the oil tank is in the ground?
Posted by MrsFlatbread
i think to remove the tank is thousands of dollars...my brother is going through this now. I think in fact its illegal to have it in the ground now..not sure?? I would try to negociate with the sellers to remove the tank or call companies that remove this and get a quote on how much it will cost because there could be some hidden expenses if the tank leaked. Try to have the sellers go down in price based on what you find out! Good luck!
It's not illegal, it's that some town codes do not allow it underground anymore
|
| Posted 9/19/07 11:37 AM |
| |
|
MrsFlatbread
Skinny jeans are in my future
Member since 6/06 10258 total posts
Name:
Baby Momma
|
Re: would you NOT buy a home b/c the oil tank is in the ground?
Posted by Mrs-D-Girl
Posted by MrsFlatbread
i think to remove the tank is thousands of dollars...my brother is going through this now. I think in fact its illegal to have it in the ground now..not sure?? I would try to negociate with the sellers to remove the tank or call companies that remove this and get a quote on how much it will cost because there could be some hidden expenses if the tank leaked. Try to have the sellers go down in price based on what you find out! Good luck!
It's not illegal, it's that some town codes do not allow it underground anymore
this is also something the OP should find out about b/c its definitely worth a price negotiation if it's not allowed as per town code!!
|
| Posted 9/19/07 11:38 AM |
| |
|
Chatham-Chick
*********************
Member since 5/05 10311 total posts
Name:
|
Re: would you NOT buy a home b/c the oil tank is in the ground?
Posted by MrsFlatbread
i think to remove the tank is thousands of dollars...my brother is going through this now. I think in fact its illegal to have it in the ground now..not sure??
You can still bury tanks underground, but it can be quite costly. Many people opt for this because they don't want to lose room in their basements.
|
| Posted 9/19/07 11:39 AM |
| |
|
MommyofG
just the girls
Member since 5/05 9461 total posts
Name:
Janice
|
Re: would you NOT buy a home b/c the oil tank is in the ground?
Posted by smdl
Do you know if they have issues with it? Like leakage, etc..
If they give you the money for an above ground one and money to dig the old one.. I would buy it. I just depends on the cost. Or you could "include" it in the offer price.
Def. have an inspection.
Hey there  nope doesnt leak and wont have to be digged they put foam in it, the realtor told us the cost is approx 2k to have the tank put on side of house or in garage. Or could leave as is but thought that was nice to offer to pay for it.
|
| Posted 9/19/07 11:40 AM |
| |
|
Chatham-Chick
*********************
Member since 5/05 10311 total posts
Name:
|
Re: would you NOT buy a home b/c the oil tank is in the ground?
We purchased a 1950s home that still had the original tank underground.
We just replaced it less than 2 weeks ago.
We were initially going to have a new 1000 gallon tank installed underground, but instead went with two 330 tanks in the basement (we have plenty of room, so it wasn't an issue.)
|
| Posted 9/19/07 11:40 AM |
| |
|
MommyofG
just the girls
Member since 5/05 9461 total posts
Name:
Janice
|
Re: would you NOT buy a home b/c the oil tank is in the ground?
Posted by MrsFlatbread
Posted by Mrs-D-Girl
Posted by MrsFlatbread
i think to remove the tank is thousands of dollars...my brother is going through this now. I think in fact its illegal to have it in the ground now..not sure?? I would try to negociate with the sellers to remove the tank or call companies that remove this and get a quote on how much it will cost because there could be some hidden expenses if the tank leaked. Try to have the sellers go down in price based on what you find out! Good luck!
It's not illegal, it's that some town codes do not allow it underground anymore
this is also something the OP should find out about b/c its definitely worth a price negotiation if it's not allowed as per town code!!
no town code needed. didnt even know some towns dont allow this, interesting.
|
| Posted 9/19/07 11:42 AM |
| |
|
smdl
I love Gary too..on a plate!
Member since 5/06 32461 total posts
Name:
me
|
Re: would you NOT buy a home b/c the oil tank is in the ground?
Posted by MommyofG
Posted by smdl
Do you know if they have issues with it? Like leakage, etc..
If they give you the money for an above ground one and money to dig the old one.. I would buy it. I just depends on the cost. Or you could "include" it in the offer price.
Def. have an inspection.
Hey there nope doesnt leak and wont have to be digged they put foam in it, the realtor told us the cost is approx 2k to have the tank put on side of house or in garage. Or could leave as is but thought that was nice to offer to pay for it.
Since I am a "paranoid" person when it comes to RE, I would be suspicious why they offer 2K for a new tank.
I could me just me of course! 
|
| Posted 9/19/07 11:42 AM |
| |
|
2girlsforme
LIF Adult
Member since 8/06 3071 total posts
Name:
XXXXXXXXX
|
Re: would you NOT buy a home b/c the oil tank is in the ground?
Posted by Blu-ize
I would ask them to do it and have them give you the documentation. It has to be done by EPA standards and has tobe inspected to abandon an underground oil tank.
My dh owned a home before we were married and this was exactly what he did.
|
| Posted 9/19/07 11:43 AM |
| |
|
Mrs-D-Girl
Love my fur baby
Member since 8/07 5183 total posts
Name:
|
Re: would you NOT buy a home b/c the oil tank is in the ground?
Just an FYI, if the town did not allow it underground, I am sure the current owner would have took care of it or when they do a title & CO search, it will be brought up.
If they are willing to give you the $2K, hey go for it.
Some towns require it outside, some in the basement, it depends.
|
| Posted 9/19/07 11:45 AM |
| |
|
MommyofG
just the girls
Member since 5/05 9461 total posts
Name:
Janice
|
Re: would you NOT buy a home b/c the oil tank is in the ground?
Posted by smdl
Posted by MommyofG
Posted by smdl
Do you know if they have issues with it? Like leakage, etc..
If they give you the money for an above ground one and money to dig the old one.. I would buy it. I just depends on the cost. Or you could "include" it in the offer price.
Def. have an inspection.
Hey there nope doesnt leak and wont have to be digged they put foam in it, the realtor told us the cost is approx 2k to have the tank put on side of house or in garage. Or could leave as is but thought that was nice to offer to pay for it.
Since I am a "paranoid" person when it comes to RE, I would be suspicious why they offer 2K for a new tank.
I could me just me of course!
yea the inspection is fine. thought it was nice of them, they dont have to do,they are old think they just want to retire and go.
|
| Posted 9/19/07 11:45 AM |
| |
|
LIMOMx2
...
Member since 5/05 24989 total posts
Name:
|
Re: would you NOT buy a home b/c the oil tank is in the ground?
We gave up a house that we loved because there was in the ground and they had no record if it was filled etc. We did not want to deal with it because it can turn into something huge.
|
| Posted 9/19/07 11:45 AM |
| |
|
MommyofG
just the girls
Member since 5/05 9461 total posts
Name:
Janice
|
Re: would you NOT buy a home b/c the oil tank is in the ground?
thank you ladies so much for all the info!!!!
|
| Posted 9/19/07 11:47 AM |
| |
|
robynfs
12/6/10!!
Member since 9/05 4947 total posts
Name:
|
Re: would you NOT buy a home b/c the oil tank is in the ground?
Have them remove it...it's annoying to deal with. My friend just bought a house in Short Hills, NJ and had the owners dig up the oil tank and replace the grass....so much easier.
|
| Posted 9/19/07 11:53 AM |
| |
|
LuckySV
LIF Adult
Member since 10/05 4675 total posts
Name:
|
Re: would you NOT buy a home b/c the oil tank is in the ground?
Our house had 3 550 gallon oil tanks underground (paranoid much!  ). We were not going through with the purchase of the house unless they abandoned the tanks. They ended up doing that and it cost about $5000 for all 3 to be done. They installeda 275 tank in the basement.
They were the original tanks (house built in 1951) so we didn't really want to chance it. If there are any leaks then you, as the homeowner, are responsible and I'm sure that can be quite costly.
|
| Posted 9/19/07 11:57 AM |
| |
|
Faithx2
All good things in 2016!!
Member since 8/05 20181 total posts
Name:
|
Re: would you NOT buy a home b/c the oil tank is in the ground?
We did. My DH, who is a plumber, converted us to gas 2 years after purchasing our home and have yet to have a company come in and abandon the tank. We will get around to it one day. We got prices around $375 to abandon the tank.Which is just filling the old tank with foam and getting a certificate that it was done. You might want to look into the option of gas if you are going to change everything out.
Message edited 9/19/2007 12:25:15 PM.
|
| Posted 9/19/07 12:16 PM |
| |
|
Maathy317
Grammie's Little Man
Member since 2/06 3235 total posts
Name:
D
|
Re: would you NOT buy a home b/c the oil tank is in the ground?
Posted by MommyofG
Posted by smdl
Posted by MommyofG
Posted by smdl
Do you know if they have issues with it? Like leakage, etc..
If they give you the money for an above ground one and money to dig the old one.. I would buy it. I just depends on the cost. Or you could "include" it in the offer price.
Def. have an inspection.
Hey there nope doesnt leak and wont have to be digged they put foam in it, the realtor told us the cost is approx 2k to have the tank put on side of house or in garage. Or could leave as is but thought that was nice to offer to pay for it.
Since I am a "paranoid" person when it comes to RE, I would be suspicious why they offer 2K for a new tank.
I could me just me of course!
yea the inspection is fine. thought it was nice of them, they dont have to do,they are old think they just want to retire and go.
I would be suspicious as well. I don't know what kind of inspection you had, but, the only way to inspect a tank in the ground in visually. You have to dig down and expose the tank to see if there are any areas that are leaking. Even if the tank is not leaking oil, there could be areas on the top that allow water to leak in. I would find out just how long that tank has been in the ground. If they are willing to give lyou 2k for a new tank, that would send a red flag up because if that tank is leaking, it is going to cost you far more than that. I would proceed with caution here.
|
| Posted 9/19/07 12:29 PM |
| |
|
Mrs-D-Girl
Love my fur baby
Member since 8/07 5183 total posts
Name:
|
Re: would you NOT buy a home b/c the oil tank is in the ground?
Since I am a "paranoid" person when it comes to RE, I would be suspicious why they offer 2K for a new tank.
I could me just me of course!
yea the inspection is fine. thought it was nice of them, they dont have to do,they are old think they just want to retire and go.
I would be suspicious as well. I don't know what kind of inspection you had, but, the only way to inspect a tank in the ground in visually. You have to dig down and expose the tank to see if there are any areas that are leaking. Even if the tank is not leaking oil, there could be areas on the top that allow water to leak in. I would find out just how long that tank has been in the ground. If they are willing to give lyou 2k for a new tank, that would send a red flag up because if that tank is leaking, it is going to cost you far more than that. I would proceed with caution here.
I am 99% sure that you can some what determine if there was a leak though. If one month you used 30 gal of oil and then all of a sudden jumped to 100 gal for example, that is a sign of a problem!
Message edited 9/19/2007 2:48:35 PM.
|
| Posted 9/19/07 12:48 PM |
| |
|
Mommy2Boys
My Boys!!!!
Member since 6/06 14437 total posts
Name:
C
|
Re: would you NOT buy a home b/c the oil tank is in the ground?
our house has an underground tank, I think most of the homes in my area do.
we purchased the home last year and I was incredibly skeptical about it and nervous. The homeowners had installed a new tank only a few years ago. It met all EPA regulations. The new ones are fiberglass and are virtually impossible to get leaks with. I also went to the town and got papers stating the old tank was closed off correctly. You cannot tell from a visual inspection, but you can get a company to come in and test the soil to see if there has been oil leaking. The oil companies can also tell from your oil consumption.
|
| Posted 9/19/07 1:18 PM |
| |
|
CunningOne
***
Member since 5/05 26975 total posts
Name:
|
Re: would you NOT buy a home b/c the oil tank is in the ground?
You do not need to dig up and expose the tank to see if it is leaking. They can run pressure tests on the tank to determine this. If the tank is single-walled, and old, it is possible its been subject to corrosion, and I would doubt it had cathodic protection. The newer tank installs are double-walled. Residential tanks can be abandoned underground and must be done and certified by the county.
I work for an environmental engineering consulting company, so I deal with these issues a lot (although for companies, not residential). FM if you have any more questions.
|
| Posted 9/19/07 2:37 PM |
| |
|
| Pages: [1] 2 |
