While there are no specific laws governing undergound oil tanks in New Jersey, most insurance companies and mortgage companies do require that a tank search be done and that a property be certified as “tank free” prior to residential real estate changing hands. Most home sellers fall into two categories – those who know they have a tank and those who don’t. If you know you have an underground oil tank, the best choice is to have the tank drained, have is inspected and dug up – and then put in an above ground oil tank. Even if the tank has not begun to leak, it will at some point in the future. And, if you are planning on selling any time soon, chances are you will have to get rid of the tank anyway.
If you are a seller who does not know if you have an oil tank or not, then a tank sweep is your best friend! If you put your home on the market, get an offer and start to go to closing and then a tank is found, then your closing could be delayed. It is better to know at the beginning, to give yourself plenty of time to do the tank sweep and deal with any underground oil tank that is found and deal with any soil remediation that may be needed. Undergound oil tanks can be very sneaky – make sure you look for one on your property before putting it on the market!
Tank Solutions can do a tank sweep for you in a very quick time frame for only $250 – give us a call on 908-964-2717!