Underground Oil Tank - Connecticut

[Melanie King]

I am under contract for a single family house in Stamford, CT. There is an underground oil tank in the front of the house. The previous owners used a company called, "Technical Environmental Construction, Inc." to abandon the oil tank in place in 2001. There is also a letter explaining that the company:

1. Filed all state and local notifications/permit was made with the office of the fire marshal

2. All oil and sludge was properly removed and disposed of.

3. The UST was scrubbed dry and cuts were made to collect bedding materials.

4. Soil was analyzed and did not exceed CT''s limit of 500ppm.

The seller has already refused to remove the oil tank. Is this a deal-breaker if I am planning on doing a live-in-flip and then renting out in a couple of years? Or is this only a concern for when I go to sell in the future?

Thanks in advance!