Had the opportunity to inspect a home in
Homes between 1950 to 1970 have a good chance of having had oil as fuel source for a oil furnace. This raises the question, has the tank been professionally removed or is it still in the ground and if so what is its condition.
Oil tanks can be expensive to have removed, and even more so if it has been leaking into the soil.
The seller had no knowledge of an oil tank when they bought 20 years ago, have never considered it. The buyer’s & listing agents agreed that it would be in everyone’s best interest to have a professional tank removal company come and scan the property to see if a tank is or is not in place.
A tank was found in good condition and had been drained of all it oil. The seller agreed to have it removed at their cost of approximately $4,000.00.
Please make sure, when buying a home that was built in this time period to research the potential an oil tank in place or professional removed.