With Underground Oil Tank — Should I Buy A House

: If removal happens after closing, hold 1.5x the estimated cost in escrow.

: Ensure all previous "abandonment" work was permitted and inspected by the town.

, unless the tank is professionally decommissioned or replaced before closing. If you proceed, ensure the seller pays for a soil test and provides a "No Further Action" letter from the state. ⚖️ Key Risks and Considerations 💸 Financial Liability should i buy a house with underground oil tank

: Many carriers refuse to insure homes with active or abandoned USTs.

: Take samples from the four corners of the tank and underneath it. : If removal happens after closing, hold 1

: Verify the tank’s age, material (steel vs. fiberglass), and maintenance logs. 📍 Essential Steps Before You Buy

: Ask the seller to remove the tank and backfill with clean soil. If you proceed, ensure the seller pays for

: Even tiny pinholes in old steel tanks can saturate the ground.