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 generally caused by the rust inside underground tanks or by an electrical condition sparked by electric utility lines.
Buyers should always 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 and the underground tank to be shut off. Cleanup 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, your lawyer should make sure that the description and condition of the underground heating oil tank is accurate and up-to-date.Back to Table of Contents
Home | Auction Basics | Online Auctions | Auction Information | Auctions | Upcoming Auctions | Hancock County | Harrison County | Jackson County | Stone County | Entertainment | The Gulf Coast | Contact Us | John Mozingo Jr | John Mozingo III | Angela Murray | Michele Hickman | Advanced Search | Property Analysis | Join Mail List | Maj. Sean Cross | Our Listings | Property Search | Residential | Lots & Land | Multi Family | Commercial | Rentals | Gulfport Homes | Biloxi Homes | Long Beach Homes | Pass Christian Homes | D'Iberville Homes | Rental Application | Our Open Houses | Buyer/Seller Info | Buyers Information | Seller Information | Mortgage Rates | Relocation | FEMA Information