Oil Tank Due Diligence When Buying An Older House

 

I've Heard of Oil Tanks, What's The Deal With Them?

How Do I Know If The Home Has An Underground Oil Tank?

What Are The Dangers If I Don't Check?

 

You've all heard of home inspections, but have you ever heard of oil tank inspections?

Many buyers these days are just not educated when it comes to watching out for this potential risk.

For those who are not aware, many single family houses prior to 1975 were heated by oil.  This was before houses were connected to gas.  The oil would come from an underground oil tank buried beneath the property.  

When the availability of gas came into the picture and homes connected to gas, many underground oil tanks were decommissioned, as in the oil was pumped out of the tank and the oil tank removed.  Unfortunately, many oil tanks had their tubes "tied" but were never removed from the property and to this day, there are still some houses that are still powered  by the oil.

The danger is for those houses that still have an underground oil tank.  

Why, you say?  Well, because the lifespan of the oil tank is supposed to be about 25 years and so after that time, the tank will begin to corrode and pose a contamination hazard as oil can leak into the soil of the property.  

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