For Sellers/Owners

If you own a property with a home heating oil tank not in use, removal of the tank is recommended. Pumping the tank out and/or filling the tank with sand or foam does not address the real question on a potential buyer’s mind, did the tank leak? If you want to sell the property in the future, it will most likely be an issue you will have to deal with prior to sale. Many insurance and mortgage companies are starting to require for tanks to be removed and releases cleaned up before they will help buyers.

Although it is not a requirement to test or remove heating oil tanks if the tank has not leaked, North Carolina law requires disclosure of any tank that is/was located on the property. Buyers (under contract) have the fullest right to test/inspect the tank prior to buying a property.

 

 

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