In Fairfield County, many homes are fueled by oil, especially in the rural towns that lack access to piped natural gas, relying instead on oil and, in some cases, propane. Along the coast, homes enjoy access to both natural gas. However, outside these coastal areas, oil remains the primary heating
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source. As a realtor, one of the first questions I pose to sellers concerns the presence of an underground oil tank: whether their property ever had one, and if so, whether it has been removed and the soil tested. This inquiry is crucial in the home-selling process because the presence of an underground oil tank can significantly influence both the sale and the property’s value.
What You Need to Know About Underground Oil Tanks
Many homes built before 2000 had underground oil tanks at some point. While these tanks were a standard feature for home heating, they can become problematic as they age. Corrosion, leaks, and soil contamination are potential risks, making it essential to address any issues before listing your home for sale.
If your home still has an underground oil tank, it is vital to have it removed by a professional. Removal is not just a matter of digging up or proper abandoning of the tank; it also involves conducting a soil test to ensure no contamination has occurred. Clean soil is a must when selling your home, as any contamination can lead to costly remediation and delays in the sale process.
Why Oil Tank Paperwork is Crucial in the Home-Selling Process
During the late 1990s and early 2000s, many homeowners took the proactive step of removing heir underground oil tanks. However, the challenge now lies in finding the paperwork that documents the removal and the results of the clean soil tests. This documentation is crucial, as it not only proves that the tank was properly handled but also provides peace of mind to potential buyers.
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Once an oil tank is removed or properly abandoned, this paperwork should be passed along to future homeowners. While some towns may have records of tank removal if it was filed, it’s not uncommon for homeowners to forget to file this paperwork. If you’re selling your home, having these documents readily available can prevent issues during the sale. If the paperwork is unavailable and cannot be located, the next step is to conduct a metal scan of the property to ensure that no tank remains buried underground.
What Buyers Will Ask About Underground Oil Tanks
If you are selling your home now or in the future, you will be asked for documented proof of the tank’s removal or abandonment, along with the results of a soil test confirming that the area is free of contamination. This is important because, if the
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soil is contaminated, the responsibility—and the financial burden—for cleanup lies with the current homeowner. The responsibility passes with ownership.
Whether you’re buying or selling in Fairfield County, understanding the history and status of an underground oil tank is essential. For sellers, ensuring your tank has been properly removed and the soil is clean can make your home more attractive to buyers and prevent legal or financial complications down the line. For buyers, due diligence in asking about and reviewing this paperwork is critical to avoiding unexpected liabilities.
Do You Have Your Oil Tank Paperwork?
Feel free to reach out if you need more guidance on this or any other factors that can impact your home’s sale. I’m here to help you navigate the process, share my expertise, and ensure you maximize your home’s value while making your selling and buying experience as smooth as possible.
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c: (203) 650-6870
e: jennifer.lockwood@cbmoves.com