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Underground Heating
Oil Tanks
Underground heating oil tanks can
pose many potential problems to both home buyers and sellers. They have been
the source of many environmental problems such as contamination of
surrounding soil and ground water.
Leaks are caused by the rust inside underground tanks, or by an electrical
condition sparked by electric utility lines.
Buyers should have the tank inspected to make sure that it is structurally
sound. Buyers who do not want an underground fuel tank can arrange for an
above ground tank to be installed in the basement, an underground tank to be
shut off. Cleanups of any leaks will also have to be taken care of.
For buyers, the underground heating oil tank should be written in the sales
contract. For sellers, you lawyer should make sure that the description and
condition of the underground heating oil is accurate and up-to-date.
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