As the buyer of a new home, you need to be aware of all the lurking problems before purchasing so you’re not surprised a little too late. Home inspections are common practice for buyers to get a good analysis of what’s inside the home, but what about around the property under the ground? One of the biggest issues that can be located outside is the presence of oil tanks. To avoid this hidden environmental issue, an oil tank sweep can help protect you.
The Purpose of An Oil Tank Sweep
In areas like New Jersey and the northeast of the US, oil tanks are very common and can only be detected by a skilled technician trained to look for evidence of a former UST. (underground storage tank) Underground metal like, construction debris, drainage systems, and metal piping could cover up the presence of a long-forgotten tank. A high-quality oil tank sweep consists of a preliminary investigation to look for former indications of an underground tank. Our trained professionals then use a magnetometer and ground penetrating radar (GPR) which uses electronic imaging to locate buried oil tanks. Before a buyer gets a home loan from the bank or mortgage company, they are required to perform oil tank scans on the property. Real estate professionals are often also required to get a scan done before they sell the property.
Here are some basic reasons to get an oil tank sweep:
Liability:
Liability transfers to the new owner and as the owner of the property you are responsible for any damage, cleanup, and potential legal troubles that come from a leaking oil tank. A full sweep is needed including groundwater investigation and cleanup as well as local construction permits and a certified lab test for the soil may need to be obtained.
Environmental damage:
A leaking oil tank affects its surrounding property, including nearby water supplies and aquifers. Soil and groundwater are also subject to permanent damage if the tank isn’t taken care of. Cleanup could be costly–running into the millions. Soil disposal is a large part of the reason. Only an experienced and certified excavation company should deal with the removal and disposal of the tank, as well as the cleanup of contaminated soil.
Fire Hazards:
Vapors can leak from the underground tank aside from oil, precipitating fires and
combustion inside buildings.
Health concerns:
Many carcinogens and cancer-causing agents are linked to home heating oil tanks. These
vapors can contribute to nausea and respiratory issues.
Insurance Companies Won’t Save You:
Your insurance company needs to know about the underground oil tank but that doesn’t mean
they’ll help cover the costs. Environmental cleanup and remediation can cost $10,000 to
$250,000 or more, depending on the extent of leaking and damage to the soil and property.
Protect your investment:
Liability is transferred to the new owner. If left unchecked until after the close of the
house, the liability and cost can skyrocket. Protect yourself with an easy oil tank sweep
before buying a property to ensure you close on time and within budget
Don’t get stuck with a hidden underground oil tank! Speak with our experienced staff about an oil tank sweep at your property or the property you are purchasing today.