Is the oil tank gone? no paper work!
buyer would like test the site for an ground an oil tank?
company comes out to do the test..locates a tank 250 gal.(metal tank)
the seller says it an water tank that keeps the yard from flooding?
how can you tell the differnence between an oil tank and water tank
2007-02-06 06:53:57 · 6 answers · asked by Beautiful had a BOY on 3.7.09!!! 3 in Business & Finance ➔ Renting & Real Estate
No one has an in ground water tank. Most likely the home used to have oil heat. FHA/HUD requires that all oil tanks not in use be removed (above ground) or filled in with concrete by certified company or removed (in ground). Most conventional loan companies do not have these requirements. To be on the safe side I would make sure it at least gets filled in.
2007-02-06 11:35:41 · answer #1 · answered by Scott B 3 · 0⤊ 0⤋
Most likely the seller is lying. When they test for an oil tank - they don't just say "oh there is a big metal tank in the yard" they see if there is any traces of oil in or around it. It is very expensive to remove an oil tank. Even if it has not contaminated the soil now, the dishonesty of the seller should make you wary. Tell them you want all the testing required by your state/ town proving that it is not a oil tank, or it is not leaking. You don't want to find out after you buy the house that you have pay that expense yourself.
2007-02-06 07:13:19 · answer #2 · answered by ? 1 · 1⤊ 0⤋
This sounds like bull to me.I have never heard of an underground water tank that prevents flooding.People either have well water, or city/town water. The people that found the tank should know about this.Oil tanks were put into the ground.I honestly believe it is an oil tank but I purchased a property with an old oil tank in the ground, so find out but don't worry about it.Again, the people who found the tank can or should be able to tell you what type of tank it is. Good luck and happy home hunting!
2007-02-06 07:18:49 · answer #3 · answered by gia b 2 · 1⤊ 0⤋
There should be some kind of difference in the soil. Most petroleum products seap into the soil where they have been contained, if it is for any lengthy period of time. mostly around 30 to 40 years. Have a soil sample taken around the area where the tank is at and there should be some traces of the substance. I work in the Energy/Mining Industry.
2007-02-06 07:32:32 · answer #4 · answered by dougie 2 · 1⤊ 0⤋
dip a swab of the interior and check the residue.
2007-02-06 07:02:32 · answer #5 · answered by smithy1023 1 · 1⤊ 0⤋
Dig it up
2007-02-06 06:57:49 · answer #6 · answered by Anonymous · 0⤊ 2⤋