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Updated over 3 years ago on . Most recent reply

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Konstantin Boubev
  • Rental Property Investor
  • Howard Beach, NY
28
Votes |
52
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Oil Tank Removal cost

Konstantin Boubev
  • Rental Property Investor
  • Howard Beach, NY
Posted

Hello BP community.

I’m dealing with removing an underground oil tank from my property in Newton NJ.

I hired a company to do the removal/remediation MARKSMEN ENTERPRISES, LLC.

The initial estimate they gave me was 8K, and they said there could be potential additional cost depending of what they find. Now, they are asking for another 9K to finish the work that is needed to get clearance from the state. Does that make sense? Anyone with experience, please advise.

Thanks in advance. 

Most Popular Reply

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Mike McCarthy
  • Investor
  • Philadelphia, PA
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Mike McCarthy
  • Investor
  • Philadelphia, PA
Replied

Finding a reputable tank removal company is HARD. It should be a $1-3K project if no contamination is found. It’s an easy process with some permits and some testing.

BUT if contamination is found, I’m the price goes up. I’m convinced some companies go around with a bucket of oil to drop in the ground to add thousands to the bill. Of course I can’t prove it... but...

I’m any case, good luck. I would want to be on site as they are digging.

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