If you are selling an older home in Fairfax VA, you may be thinking about petroleum tank removal. Here are some things to consider:
- It’s harder to sell a home with a petroleum tank, even if it’s been properly decommissioned (abandoned). Many buyers will not even consider your home if it has a petroleum tank.
- On average, homes with petroleum tanks – working or decommissioned – sell for less than homes that you other forms of heating.
- If you or your Realtor claim ignorance of the petroleum tank and one is discovered after the sale, you are opening yourself up to legal action. At the very least, you will still have to pay for petroleum tank removal or decommissioning, and any remediation.
- In most cases, it costs less to have petroleum tank removal completed in Fairfax VA, than what a seller would lose on the sale of their home with a decommissioned oil tank.
- Mortgage companies will not loan money to a buy a house that has a petroleum tank that is in bad shape and/or isn’t being used, and hasn’t been properly removed or decommissioned.
- Even if the petroleum tank is properly decommissioned, the buyer may want the petroleum tank removal completed and any remediation done, before the sale of your Fairfax VA home is completed.
- In Virginia, our Department of Environmental Quality (DEQ) has a fund that can help reimburse homeowners for some costs of petroleum tank removal in Fairfax VA.
For more information on petroleum tank removal in Fairfax VA, please contact SES Mid Atlantic LLC. Serving Fairfax VA, the rest of Northern Virginia, and Washington DC residential and commercial markets since 1987, SES Mid Atlantic specializes in testing and safely removing above- and below-ground petroleum tanks.