When it comes to the subject of the sale of a house in New Jersey, it is only normal to assume that both the buyer and the seller of the property want the sale to go as smoothly as possible. Unfortunately, there are many variables that could come up during that process. There could be negotiations over the asking price or little quirks around that house that would need to be changed. A large issue that could come up during the negotiation process is over the presence of an oil tank and the details surrounding its presence. If an underground oil tank is found to be on the property, a question is brought up revolving around the idea of what the seller’s responsibility is regarding the underground oil tank.
The main question when it comes to an underground oil tank during the sale of a house is the seller legally required to remove an underground oil tank prior to the sale’s completion. The plain answer to that question is no. There is currently no law requiring that a home seller remove an underground oil tank. Depending on your situation and your comfort level with the presence of an underground oil tank on your new property, it is always beneficial to make sure that a few things are in place as a contingency of your new purchase. A buyer should always make sure that they are not left open to possible environmental damages because they did not receive a complete work up of information about the underground oil tank from the previous owner.
It is always advisable that prior to closing, you receive confirmation that the underground oil tank has been properly filled or abandoned. While it is not advisable to simply fill and abandon the tank, the previous owner may have felt that is all that was needed to maintain the soil. Of course, you can always request that the seller remove the oil tank before you purchase the property, but remember, they are under no state obligation to do so. Another think that a new buyer should always request is that the soil of the property be tested for any possible contamination. If the current owner had the tank filled some time ago, this process was most likely already completed.
The Entech Group, Inc. is proud to offer a wide variety of underground oil tank services throughout New Jersey. This includes locating an underground oil tank, removal of the underground oil tank, as well as any soil remediation, if necessary. The Entech Group, Inc., provides each of its customers with the best plan of attack for your particular underground oil tank situation, which will save each customer as much money, time, and stress as possible. Please call our office today at 800-571-8661 to find out more about our underground oil tank services or visit our website at www.entechgroupinc.com.