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Underground Heating Oil Tanks Underground heating oil tanks can pose many potential problems to both home buyers and sellers. They have been the source of many environmental problems such as contamination of surrounding soil and ground water.
Leaks are caused by the rust inside underground tanks, or by an electrical condition sparked by electric utility lines.
Buyers should have the tank inspected to make sure that it is structurally sound. Buyers who do not want an underground fuel tank can arrange for an above ground tank to be installed in the basement, an underground tank to be shut off. Cleanups of any leaks will also have to be taken care of. Be aware that many lenders will not allow underground tanks.
For buyers, the underground heating oil tank should be written in the sales contract. For sellers, you lawyer should make sure that the description and condition of the underground heating oil is accurate and up-to-date.
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Southeastern Massachusetts Discount Real Estate
Assist 2 Sell Buyers and Sellers Preferred Realty
In Mansfield: 508-339-0096 In Bellingham: 508-966-2100
Serving Mansfield, Norton, Foxboro, Attleboro, North Attleboro,
Plainville, Bellingham, Uxbridge, Franklin, Wrentham and Milford
All personal consumer information submitted through this website will be held confidential within the company.
Information herein is deemed to be accurate, but not guaranteed, and should be verified.
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