11 May Selling Your NJ Home? Leaky Oil Tanks Can Cause Trouble for Your Sales Prospects
Selling a home in New Jersey (NJ) has been difficult the last few years as the market hasn’t been at its best. The last thing homeowners need is an unused oil tank sitting on their property and causing problems for their sales.
If you have a leaking oil tank that needs to be removed, you can probably receive some assistance from the state of NJ. Contact a local NJ oil tank removal professional to find out more information about getting assistance removing your oil tank.
The problem is that if you are the owner of an oil tank, there is a chance that it’s leaking. Leaky oil tanks cause all sorts of problem for homeowners and worse – lower the value of your home. This becomes a problem during the process of attempting to sell your home.
When an oil tank comes to the end of its life, oil can seep out and leak into the ground, contaminating rivers, lakes and drinking water. If the leak extends to environmental damage, expenses can skyrocket – a responsibility most new homeowners don’t want.
If you’re trying to sell your home, you might not even be thinking about the condition of your underground oil tank until you go to sell your house. In the past, many were satisfies with just decommissioning them or filling them with sand.
The truth is that in the past, this was fine, but now, NJ buyers want oil tanks removed.
For the Most Part, Homeowners are Solely Responsible for Damage
Without knowing whether or not the oil tank has any damage, the prospect of buying a house with an oil tank is tough pill to swallow. If there is damage, the new homeowner will not be responsible. If there isn’t any damage, they will still be responsible for future repairs as damage may arise.
It can cost around $1,500 for a leaky oil tank removal, but a clean-up can cost anywhere from $3,000 to $8,000. That’s a lot of money that new home owners don’t want to take on. Environmental damage can bump this number up to six figures – an extremely high risk for new homeowners.
Oil Tanks Can Interfere With Property Alterations
Want to put in an in-ground pool into your new home, altar the back patio or build a standing structure such as a detached garage? Many new NJ homeowners are looking for a perfect home.
Oil tanks can cause problems during the construction of these amenities and cause another hurdle for potential NJ home buyers. Construction around the oil tank is subject to many different regulations, and having the structure in the ground around your home can be a problem for the installation of in-ground structures in particular.
They Don’t Want the Maintenance
Some home buyers will tell you that they just don’t want a property that has a large potentially dangerous structure on the property that they have no use for, and that they themselves are going to have to incur costs to remove.
In addition to having to deal with potential problems, unused oil tanks require cleaning and maintenance to make sure there are no future problems. This upkeep means tearing up the ground regularly or investing in filling or removing the tank.
If you are in the market for a new home and you are looking for a price estimate for the removal of your oil tank, contact your local NJ oil tank removal service.
At Tank Solutions, our goal is to make the process of oil tank removal as quick and easy as possible, while getting the job done right. For more information on how we can help you remove your oil tank, contact us.