Why Hire a company that does Oil Tank Removal in Westchester NY to do a Home Oil Leak Inspection Before Buying a House?
Many buyers of pre-owned homes are not very keen on asking about the oil tank when asking about the HVAC. This is a big oversight that many come to regret later after the purchase. Oil tank inspection NY experts say (www.myoiltankremovalny.com) that much litigation that comes up after a home buy usually involves the oil tank. This litigation arises as the new home owner tries to lay the costs of remediation on the previous owner when a leak is noted. This situation occurs due to the slow nature of a leaking underground oil tank.
Cause
Many older homes built before 1960 had oil tanks placed under the house. This was before the real risks of having these tanks under the house were fully realized. The oil tanks were made of a single steel wall, unlike the double walled modern tanks.
The tank rusts when the steel comes into contact with water and other corrosive elements both in the tank and in the ground. The rust corrodes and weakens the wall over time which eventually leads to the tank leaking oil onto the ground around it.
This process takes time as steel is a strong material. Herein lays the problem. The deterioration of the underground oil tank could go unnoticed by successive owners of the house. When the leak is finally noted, the current owner has to bear the costs of the cleanup.
Due diligence
Home buyers will typically go for a home inspection that covers well water testing, asbestos testing, radon testing, mold testing and underground water storage tanks testing. This costs between $400-1,000.
An inspection and tests of underground oil tanks for leaks costs more than a house inspection. If there a leakage, soil, and groundwater testing for contamination can climb to thousands of dollars. As a consequence, many home buyers skip this important inspection.
An inspection before buying a home is crucial as it can save you thousands of dollars in the future. Many states’ laws require the seller of a house to take care of a cleanup in the event of a leakage if at the time of selling he was aware of the leakage. This fact can only be supported if an inspection has been done and a leakage established. Otherwise, the new buyer bears all the costs.
As is basis
Many properties sold on as is basis are discounted as the buyer is responsible for any repairs and improvements the house needs. A home inspection can give the estimated amount the home will require to bring it up to standard. The oil tank will need inspection too so that the buyer can decide if underground oil tank removal or abandonment is needed, and the costs involved.
Massive loss
As a buyer of a pre-owned home, you stand to lose massive amounts of money in the case an underground oil tank spills. Remediation costs can go upwards of $100,000 in some cases. Underground oil tank installation NY experts say replacing the oil tank is also an expensive undertaking. Having an inspection of the oil tank should help you decide if the property is worthy or not.
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