Should I have my old heating oil tank removed?
Underground heating oil tanks can cause a problem for people trying to sell or buy a property. What to do and who to call is very important. Heating Oil Tank Removal in Aurora and Surrounding Areas.
Purchasing a home with an underground oil tank is one of riskiest moves a home buyer can make. That’s because complete decommissioning and remediation if the tank were to leak, or if oil contamination is found in the soil, can be costly. We’re talking upwards of $100,000 if a tank ruptures, which your homeowners insurance may not cover.
The good news is, properties with underground oil tanks are becoming rarer, because more homeowners are removing them or filling them in. Underground oil tanks were common from the 1930s to the 1980s. But if a property you’re looking at still has one, here are some things you should know. Underground oil tanks can corrode, and if they still contain oil, they can leak and contaminate soil and groundwater on your property – possibly preventing a sale from going through.
Problems with removing an underground heating oil tank
Underground heating oil tanks or underground storage tanks (USTs) represent a major environmental hazard and must be removed by a certified professional, and depending on where you live, often with direct supervision from the state.
While the cost of excavating an underground storage tank varies depending on the degree of contamination and your local clean up standards, it is probably a good idea to get a qualified company that can handle both the removal and any environmental issues that may come up.