Underground Oil Tanks

[Mark N.A]

I've got three rentals with underground oil tanks because when I got them they all heated with oil. Since then I've upgraded to gas-paks.

Anyone have any negative or positive experiences with EPA, local municipalities, or on the selling end? Got any advice for handling these tanks, or if I should even worry about them?

Thanks - Mark

[Rich Schroeder]

I just went through this pain in the butt when I sold a house recently. There was an old ail tank behind the house. It won't really be an issue until you go to sell. At that time, however, depending on the buyer...they might give you a hard time. Our buyers wanted a soil sample done, and proper disposal of the oil...then wanted it topped off (with a special sand mixture) by a professional. I called a few places and it would cost $3300 to do all that. That didn't include costs if we needed to excavate some contaminated dirt. I wound up offering them $2k cash at closing and they took it. I'm sure they haven't done anything with the tank, and probably don't plan on it. If it were me, I would have it cleaned and filled now so you don't have to worry about it later. but if you're never going to sell, then just forget about it.