Things You Must Know About Oil Tank Removal in New Jersey

 

Underground oil storage tanks are a risk in real estate transactions. Whether industrial, commercial, or residential, a leaking of an oil tank can have serious financial consequences and if not properly addressed the buyer’s problem post-closing. There is a lot of conflicting information about NJ Oil Tank Removal on the internet. Here are these things that everyone should know regarding oil tank removal.

How Do You Know an Oil Tank Is There?

• Homeowners may not be aware of the oil tank that has been abandoned on their property. Because they did not perform any inspection when purchasing the property or maybe for some other reason. It is very important not to rely on the seller’s previous record at the time of purchasing the home. It is wise to do your own check for the presence of an oil tank.

• There are clear signs that hint at the presence of an underground oil tank. There must be vents or filler pipes oil lines visible in the foundation wall, which would have been used to transfer the oil from the tank to the furnace inside. It is best to hire a professional for Oil Tank Sweeps in NJ. They used tools like metal detectors and ground radar to ensure the buried oil tank on the property.

Getting an Oil Tank Removal in NJ

• Oil tank poses a serious environmental threat and financial charge. It is up to the buyer to negotiate properly. In most cases, the seller will pay all of the cost of an Oil Tank Removal in NJ as part of the closing agreement. In the earlier times, the oil tanks were filled with sand and other filler and were considered that place an acceptable practice. Though there is a risk of contamination and many homeowners are now required oil tanks to be completely removed before they will provide a mortgage or insurance companies will take the risk either.

Financial Contemplation to Oil Tank Removal in NJ

• No further action letter from the NJ Department of environment protection is required by lenders and insurers in most cases after an Oil Tank Removal is completed.

• Most of the insurance companies in NJ will not provide any coverage for underground oil tanks. The amount covered by the policy is usually much less than the real cost.

• Most of the companies will not disclose immediately the cost of the service of an oil tank removal and say it depends on the situation and the work involved.

What Happens After Oil Tank Removal?

When the oil tank is removed, the local inspector or a fire marshal will be appointed to inspect the oil tank site. This inspection is held based on the report filed by the tank removal company for further testing and cleanup that needs to be done to the soil.

The Bottom Line:

Oil Tank Services in New Jersey have experience of over 2 decades in the oil tank removal and remediation services in the area. Their experts can examine your property with innovative and advanced equipment and have numerous years of experience in the detection of unknown tank settings on the property. They offer dependable services and satisfaction is a guarantee. Click on the link https://oiltankservices.com/ to get a free quote.