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Answers (9)
- Nicaury Miller, "Home Styles Realty"
- Contributions:51
Walk away or get the grant and keep the home.
here is the link. http://www.newtanksnj.org/faqs.aspx
here is the link. http://www.newtanksnj.org/faqs.aspx
- Jeremy Patterson, "jeremy755"
- Contributions:28
- ATS_Enviro
- Contributions:18
If an underground oil tank is found on the property it is critical that you contact a company, like the one I work for, to evaluate the tank. Although the owner does not want to remove the tank they will have no choice if your inspection of the tank area shows that the tank has leaked. When a tank is evaluated and the soil shows that contaminations exist this is reported to the State of NJ DEP and a spill number is assigned. The owner of the property is responsible to remediate the area. If the evaluation does not show that the ground is contaminated the good news is NJ has a grant program ($3000) that will pay most of the cost to remove and install a new tank. You can apply on-line or have a company like my company file the paperwork and manage the job. Since you have to pay the contractor before you receive the grant money we also have a program to front you the money while you wait for reimbursement.
If there is an aboveground tank inside the house it is also important that you have this tank evaluated. The evaluation should consist of ultra-sonic thickness measurements to determine if the tank has weak spots and is corroding at a rate that might lead to a tank rupture.When a tank leaks inside the house it in many cases is worst than one leaking underground.
If there is an aboveground tank inside the house it is also important that you have this tank evaluated. The evaluation should consist of ultra-sonic thickness measurements to determine if the tank has weak spots and is corroding at a rate that might lead to a tank rupture.When a tank leaks inside the house it in many cases is worst than one leaking underground.
- Mike Hart
- Contributions:110
To add a phrase to Joe's comments, "Home Inspectors don't blow deals, stubborn people blow their own deals". That's a phrase I use often, but I'm not sure everybody agrees with it. :) I made it up myself, years ago, so feel free to use it, copy & distribute.
Anything the inspector reveals at a home inspection, can be negotiated and dealt with amongst reasonable people. If you are dealing with one of the unreasonable people, it may be best to get out now, because there will surely be other conflicts besides the Oil Tank!
Anything the inspector reveals at a home inspection, can be negotiated and dealt with amongst reasonable people. If you are dealing with one of the unreasonable people, it may be best to get out now, because there will surely be other conflicts besides the Oil Tank!
- Joseph San Angelo, "inrealestate"
- Contributions:53
I don't understand why the seller's real estate agent hasn't told him the pit falls of not negotiating with you. The reluctant seller doesn't want to spend the money to remediate the tank or is afraid of what he'll find (leakage). what he doesn't understand is that he's going to have to negotiate this situation with the next buyer. He should be negotiating with you because he accepted your offer and it'll be cheaper for him to deal with you.
He should realize that now that the tank has been found he has to change his seller's disclosure to reflect the find. Once he does this the next buyer is going to negotiate the remediation up front and it also will reflect the price of his offer, that's why it would be cheaper for him to deal with you.
GOOD LUCK
JOE
He should realize that now that the tank has been found he has to change his seller's disclosure to reflect the find. Once he does this the next buyer is going to negotiate the remediation up front and it also will reflect the price of his offer, that's why it would be cheaper for him to deal with you.
GOOD LUCK
JOE
- Mike Hart
- Contributions:110
If it is not removed now, it will be your problem sooner or later. It is costly and unreliable to confirm that the tank is empty, and unused oil tanks are considered a risk, regardless of whether or not it is empty.
- Francesca Patrizio, "PatrizioRE"
- Contributions:132
Since the inspection uncovered the oil tank, I'd have to guess that it is below ground. To remove same, you need not only to hire a competant company to do so, but get the appropriate state approvals. A seller that is unwilling to work with you or reduce their price in accordance with the expense it may cost you to remedy any potential leakages from the below ground tank, is someone that I mgiht suggest walking away from depending upon the agreed upon purchase price.
Love and Peace,
[content removed by moderator for being self promotional]
Love and Peace,
[content removed by moderator for being self promotional]
- real estate mike
- Contributions:2001
O.P. is correct or you could leave it if the tank isn't a potential hazard(empty?).
- Ofe Polack, "Ofe Polack"
- Contributions:1418
There are two things you can do, one you can terminate your contract if the seller refuses to remove it, or you can get an estimate on the cost of having it removed and ask for a price adjustment on the property based on this unexpected cost.
Good luck!
Good luck!
What if your inspection discovers an oil tank and seller refuses to remove it.
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