Would love to hear your experiences dealing with oil tanks

[Devyn Caraballo]

Hi BP fam hope all is well!

I wanted to know if anyone has had any experience with buying a home that needed to have an oil tank removed due to leakage into the ground. Seller does not have the funds to do it themselves and is offering to come down on the list price. If you have any experience in the matter of oil tank removal I would love to hear your story. How much did it cost? How long did it take? Was it worth it? 

ANY info would be appreciated. Thanks!

[Colleen F.]

NJ is pretty serious about this. I had an aunt with an issue and it was many truckloads of fill later that it was resolved. No idea what is cost.   We had one spring a leak in the middle of winter (just a pinhole) gallons came out but the tenant got buckets under it and it was $2500 for replacement with a roth double wall tank and removal of old tank. I would evaluate above or below ground tank and if it was a spill or long term leak.  The 10 k  might not cover it if leak was extensive and you have to remove and replace a lot of soil. My recollection is my aunt had to have all contaminated soil removed and replaced, then I think it was DEP came in and tested the soil.