Checklist: Buying and Selling Property With an Oil Tank

Checklist: Buying and Selling Property With an Oil Tank

Guest post by Billy Willard of Willard Environmental Group

Buying or selling a home can be difficult enough on its own, but factoring in the presence of a heating oil tank on the property can make this process even more challenging. For example, although many homes in the Northeast rely on heating oil tanks to keep them warm in the winter, they can represent a significant obstacle to anyone buying or selling a home. That’s because the complications oil tanks bring to a property can be enough to give a buyer reason to reconsider; in turn, that can make it much more difficult for a property owner to sell. Cleaning up after a leaky oil tank is a major burden for a property owner, given how harmful leaking oil can be to the surrounding environment. Anyone who is buying or selling a home should be aware of how an oil tank can affect their decision-making process and understand what his or her responsibilities are to avoid being caught by surprise after the sale has been completed.

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