Most home buyers prefer natural gas over heating oil. Unfortunately, many homes built before the 1970’s used heating oil. Buyers are hesitant to buy a home with an oil tank – even if the home has been converted to another form heating. Realtors are recommending that sellers contact experts, such as SES, for petroleum tank removal in Fairfax, VA.
Under the Virginia Residential Property Disclosure Act, the seller must disclose the existence of an underground or above ground storage tank, unless the property is sold “AS IS.” This is because the Commonwealth of Virginia considers the owner of the property to be responsible for the tank – and any problems arising from the tank. For instance, if you bought a home that had a tank, and soil or other tests determine that there is contamination from heating oil – you are responsible for the tank removal and the environmental clean-up afterwards. You can see why buyers would pass by a home that had an oil tank.
Insurance won’t necessarily take care of the cost of an environmental cleanup. Some insurance companies only provide liability coverage if a special endorsement is bought before the leak is discovered. Other insurance companies won’t write a new homeowner policy for any property that has an underground tank.
Some sellers are providing a credit to pay for the tank removal and agree to be liable for any cleanup costs. Many buyers still balk at that – and only complete the sale after petroleum tank removal on homes in Fairfax, VA.
Need petroleum tank removal in Fairfax, VA? Contact a company with vast experience and knowledge of removing decommissioned petroleum tanks: Soils and Environmental Services, Inc. (SES). Serving Fairfax, VA, as well as the rest of Northern Virginia and Washington DC area since 1987, SES is the area’s premier petroleum tank removal company.