cmetzjr
cmetzjr t1_j4ja2ea wrote
Reply to comment by RUKnight31 in Buying a home with decommissioned oil tank? by littlelaws232
Just to clarify for anyone else, they'll only issue a NFA if it leaked and was cleaned. If the seller removed it and it didn't leak, there isn't an option for a NFA letter.
cmetzjr t1_j4j3e1e wrote
Reply to comment by koalafishmutantbird in Buying a home with decommissioned oil tank? by littlelaws232
They're everywhere. Urban areas have or historically had them. Rural areas don't have gas so either use oil or propane. And suburban developments often had them, then converted to gas, sometimes leaving the tank in the ground.
cmetzjr t1_j4j31nu wrote
Reply to comment by boomboomroomroom in Buying a home with decommissioned oil tank? by littlelaws232
>Basically, this document proves that the tank was taken out of use and there are no contaminants in the soil.
I know what you mean, but to clarify for others: You can't get a NFA for removing a tank that didn't leak. Only if it leaked and was cleaned up.
cmetzjr t1_j4j2ine wrote
Reply to comment by FalseTruth in Buying a home with decommissioned oil tank? by littlelaws232
>don’t think it can be sold with an underground oil tank
It can be in theory. But the mortgage and/or insurance companies might limit options.
>removal and remediation must be done and documented by a certified company
Removal by a certified company. Remediation only if it leaked, in which case you'll need a NFA from DEP.
cmetzjr t1_j4iwbus wrote
I did residential tank cleanups for years. I agree with everyone who said to have the seller pull it. Even if there's a letter saying it was tested or filled with sand. I've pulled a lot of "clean" tanks that had clearly leaked for a long time.
Getting financing probably won't be a problem, getting insurance might not be either. The problem is the basis of environmental law: if you own it, you're responsible, even if you didn't spill it.
cmetzjr t1_j4ji4g0 wrote
Reply to comment by boomboomroomroom in Buying a home with decommissioned oil tank? by littlelaws232
Oh I've been on lots that didn't leak (usually when business was slow, per Murphy's law). Well drained soil, newer tanks, old thick ones. They were out there.