Underground heating oil tanks can pose many potential problems to both home buyers and sellers. They have been the source of many environmental problems such as contamination of surrounding soil and ground water.
Leaks are generally caused by the rust inside underground tanks or by an electrical condition sparked by electric utility lines.
Buyers should always have the tank inspected to make sure that it is structurally sound. Buyers who do not want an underground fuel tank can arrange for an above ground tank to be installed in the basement and the underground tank to be shut off. Cleanup of any leaks will also have to be taken care of.
For buyers, the underground heating oil tank should be written in the sales contract. For sellers, your lawyer should make sure that the description and condition of the underground heating oil tank is accurate and up-to-date.
Dear Paradise Properties,
We just wanted to take a minute and say thank you very much! My wife and I found your company on the internet by chance as we were looking to book a summer vacation on Torch Lake. On Jill's excellent recommendation, we booked a condo on Clam Lake for the third week of August 2009. The unit was spectacular, completely remodeled and very clean.
Another goal of our vacation was to learn more about the area and begin looking for a vacation home. By the end of the week, we had narrowed our search down to Clam Lake for many reasons including its access to Torch Lake. As it turned out, we found a very nice cottage on a perfect lot. After returning home and doing much more research we decided to pursue the opportunity and started working with Gary on the details.
Because we live six hours away the process was much different than other real-estate transactions we have been involved in. Gary's ideas, guidance and amazing follow through were second to none. At every turn or road block, Gary had the perfect solution or resource. Based on his tremendous experience and knowledge of the area the end result turned out great and we were able to accomplish a long term goal. I look forward to working with and referring Gary and Paradise Properties when ever possible.
Thank You So Much,Todd & Laura Wilcox