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08th February,2016 1121 Views 0 Comments

What Are the Hidden Dangers of NJ Underground Oil Tanks?

Homeowners in the state of New Jersey (NJ) often have to deal with the possibility of an underground oil tank. Older homes may often have underground oil tanks, and a leak and environmental damage could be occurring without the homeowner’s knowledge.

This is a problem for many reasons – the possibility of an underground oil tank will impede the sale of your home, it could cause lots of damage to the surrounding environment, and it can cost you hundreds of thousands of dollars if the damage is bad enough.

If you think your home may be a NJ home with an underground oil tank, contact your local oil tank removal experts for pricing and discussion on how to remove an oil tank from your home.

10 reasons you should have your oil tank removed right away.

For some homeowners, it can be tempting to try to put off the removal of your oil tank until you have closed a sale. Do not do so – realtors, insurance companies and mortgage companies will put a stop to your home’s sale unless the tank is removed.

It is for this main reason and many other reason that you should have your oil tank removed right away.

  1. Before you sell your home, you’re going to have to deal with your underground oil tank (under recommendation of realtors, and the dismay of potential buyers).
  2. Most lenders won’t give a mortgage unless there is proof that the oil tank has been removed from the ground.
  3. Underground oil tanks have cost NJ homeowners above tens of thousands of dollars in remediation charges.
  4. About 92,000 underground oil tanks remain in the state, meaning there is a chance you have one on your property and don’t know about it.
  5. Just removing contaminated soil can cost between $12,000 and $20,000 dollars for a potential homeowner.
  6. If the leak is worse and the oil has gotten into the ground system, a leak can cost over $100,000.
  7. You’re most likely going to be on the hook for the cleanup costs, as insurance companies usually don’t cover the damage done by underground tanks.
  8. You may be able to get coverage for older homes if you can prove the leak happened years in the past, but this coverage is not guaranteed.
  9. Aside from the cost, remediation and cleanup can take many months, meaning home sales can get put off for longer than the homeowners want.
  10. If you don’t get your oil tank removed, you’re likely to end up with a potential buyer who will have the property swept for one, and they’ll have you remove it anyway.

Stopping to consider the reasons you should remove your underground oil tank immediately can potentially save you hundreds of thousands of dollars in the future.

Call Oil Tank Solutions for removal of your NJ underground oil tanks.

Oil Tank Solutions have been in the oil tank removal business for years, and has experience removing your oil tank safely and with the least amount of cost possible.

We stand by NJ homeowners who want to keep their homes and the surrounding environment protected.

Oil Tank Solutions’ goal is to make the processes of oil tank removal as quick and easy as possible. For help removing your NJ Oil Tank, contact us today.

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