In case you are intending to sell your house soon, you may be considering how to make the best of the house. This may involve minor things such as keeping the lawn, changing the light fixtures, and whatnot to make it look more attractive. There might be one crucial step that you perhaps forget: oil tank removal. If, at any point in time, you have used oil heat in your house and forgotten about that oil tank in the basement or lying somewhere on the property above ground, it’s time to throw it out. Let’s explore the various reasons you might need to get rid of your oil tank before you sell the house to prevent you from facing any damage claims.
Removal as a Preventive Measure
Preventing the oil from leaking into the soil is one of the major reasons you need to remove the oil tank. If the oil tank has been sitting in the basement or if it is underground at your property, there is a likelihood that over the years, rust has worn out its material, and the oil might seep into the soil. It essentially indicates that the soil at the property is contaminated and is, therefore, a health hazard. Not only that, but it can also impact the water quality. In many places across the world, this can cause you to incur thousands in fines and potentially drop the value of your house.
Increase the Property’s Value
Once you get that oil tank taken out of your property, you can rest easy, and your realtor can effectively advertise the property as free of any damage from oil leakage. It is just another guarantee that can become a part of your sale ad, a cherry on top if your house is otherwise in tip-top condition. Buyers would also perceive you as a legitimate seller because you have done your due diligence and are only selling your property after ensuring that it is safe for use.
Prevent Legal Drama
More so than increasing the value of your house, getting the oil tank removed has to do with compliance with rules and regulations pertaining to oil tanks. Across the USA, in many states, independent inspectors check the house for sale before you can sell it. If the truth comes out at that point, you will likely have to face legal consequences. And these legal consequences do not just stop at fines. The buyer’s insurance company or the township, for instance, can file a claim against you. Worse, it could also turn into criminal charges. So, it is best if you take care of the underground oil tank removal in a timely fashion.
Build Rapport as a Good Seller
It goes without saying that putting in the time and effort to make your property safe and appealing to potential buyers is going to help you in the process of selling your house in many ways. First off, your realtor will have a much easier time negotiating the pricing and marketing the house because it will be safe. Secondly, when your house listing indicates that you had hazardous materials like an old oil tank removed from the property, it would immediately indicate that you are a responsible seller, which is a great selling point for a buyer.
Protecting the Renovations
If you own a house with some wear and tear, it might be a good idea to renovate it before you sell, as it can dramatically increase the value of the property and can make you a few extra grand when it comes to actually selling the house. But if you’re undertaking renovations, it is highly recommended to take the oil tank out, especially if it is buried in your yard or a basement. Mainly because once you have renovated the property without taking the oil tank out, eventually, you will have to undo all the work just to take it out before selling anyway.
Conclusion
It might be compelling to let that old, rusty oil tank sit there because it could be empty, but it is in your best interest to get rid of it now. Even if you don’t take it out for your health and safety, it is ideal to remove it before you sell your house. Otherwise, the blowback can essentially hurt you personally as well as financially.