An underground oil tank is a concern when it is leaking. The problem with underground oil tanks is that there is no way to tell if it is leaking, unless it is uncovered. If it is leaking, it is known in real estate language as a latent defect.
I would suggest that you have your attorney prepare a letter to the seller's attorney, stating that you will purchase the house only with an environmental engineer's certification that the tank is not leaking. Or request that the tank be removed and a new, above ground tank be put in by closing. Either way, especially if you have a private well on that property, the ground should be tested for contamination. Shame on the agent who won't call you back.

I recently had the same situation on a property my buyer client was purchasing. The sellers had the tank tested, but that test is only good for that day. We finally negotiated the seller having the tank removed at his own expense and a new one installed above-ground in the basement.

Cree Quaker
The Machree Group, LLC
Woodstock and Brooklyn, NY
917.691.9788 http://www.TheMachreeGroup.com http://www.EscapetoWoodstock.com

First I'd be upset with the agent who is supposedly acting in your best interest. To suggest that you need not worry is not the way to go. Certainly the agent cannot advise you legally but should have directed you to information or sources of information regarding buried oil tanks. The DEC is the first place I would have directed you to seek information regarding the cost of remediation. After you had been sufficiently warned then I would direct you to have testing performed. I've know tanks less than ten years old leak.

I'd like to know the final outcome of this so please post your answer for all of us to read.

Best wishes and hope your luck has changed. If you want to test it sign up on my website under buyers and enter to win $1,000.

http://www.exittogreenrealty.com

Barbara Korabel
Broker - Exit to Green Realty

You seem to have several issues: your agent's lack of response and representation of your issues and the in-ground tank itself. I would follow your lawyer's advice and have the seller remove the tank, that way if there
are any problems the seller has the liability. If there is a leak, you could incur huge expenses getting it cleaned
up along with the DEC involvement. And, in the event of a leak, you could be liable for contamination of your
neighbors' properties as well.

As for your agent, even if he doesn't have answers, he should talk to you to let you know what is going on. And
he certainly shouldn't be telling you not to worry about this.

As for the backup offer, what makes you think that they won't ask for the tank to be removed? They probably
are unaware of the tank, but it will show up during inspections.

My final advice: do NOT buy this house unless the sellers remove it.

Hello Wantahouse,

I'm with your Lawyer on this and your Agent does need to become more aware of the expenses, hazards, etc., of underground oil storage tanks. This is a link to the New York State Department On Environmental Conservation that explains the pitfalls, hazards and expenses of underground oil storage tanks on residential land http://www.dec.ny.gov/chemical/32263.html. You can Google underground storage tanks in homes and find one horror story after another regarding the expenses related to handling leaks in underground tanks. Even brand new tanks can fail and leak, be improperly installed, have small leaks that go for years before detected and can cost you a great deal of money in remediation costs.

There are many items when buying a home that can fall into the category of "not to worry about it" but this is not one of them! Even if your tank is pumped, cleaned and inspected there is no guarantee that it will not leak a day, a week, a month or years later.

Good luck on the home and follow your Attorney's advice!

Emmanuel J. Scanlan
PS Inspection & Property Services LLC http://www.psinspection.com
214-418-4366 (cell)
TREC License # 7593
International Code Council, Residential Combination Inspector #5247015-R5 (Electrical, Mechanical, Plumbing and Building)
Certified Infrared Thermographer (ASNT-TC1A Standards)
Texas Residential Construction Commission, Third Party Warranty Inspector #1593
Texas Residential Construction Commission, Inspector, County Inspection Program
Texas Department Of Insurance, VIP Inspector # 08507061016
Hayman Residential Engineering Services, Field Technician
CMC Energy - Certified Energy Auditor

Knowledge is power, but sharing knowledge brings peace!!

Hello,
I am glad you do have a buyers agent representing you. My advise is to have the tank tested on your own, and before you committ to this house, it doesn't mean you shouldnt buy this house, just know what you are getting into. I live in an older home and I bought it knowing there is an underground oil tank. We had it pressure tested (at our expense) during the inspection period. It was determone that at that time, there was no leaks and the tank looked good (they also inserted a camera). Understand that by the nature of what it is, EVENTUALLY, there will be deterioration..anything you put in the ground, especially metal, will breakdown...eventually. I loved this house and wanted to buy it anyways... one day, maybe I will look into converting to above ground or gas if available...I will worry about that when I need to.

In either case, your agent should have responded to you. Of course, he may also have been frustrated waiting for the listing agent to have answers for him , who may have been dealing with a seller who didnt want to deal with it... the seller could be talking to his attorney or someone else about all this too..the more people involved, teh longer it could all take...so try and be patient, especially if yo0u really want this house.

Good luck and if you need any other help, please feel free to call..I am not far away....

Lisa Brodsky
Broerk Associate
Coldwell Banker
http://www.currierandlazier.com/lbrodsky

Thanks for the response. No, I have a buyer's agent and I put the offer in through him. I was getting the feeling that he was avoiding me because he wasn't returning my calls and he sounded caught off guard when I finally was able to reach him. So, I thought maybe they had taken the other offer and my agent had decided he was just done with us. But, he actually just called my husband and told him that the sellers offered us money for us to take care of it. The thing is my lawyer is adamant about the sellers taking care of it first. Her thing is that just because it isn't leaking now doesn't mean it won't leak tomorrow. Then something that would have cost $2800 to fix is going to cost us tens of thousands of dollars. If the sellers take care of it and something is wrong then it is their responsibility, if we take care of it it is our responsibility. Actually, my children's babysitter's neighbor had a problem with the oil tank. I don't know the exact details, but they bought the house in November and were in the house for about a month and then there was an oil leak. Now the yard is dug up and they haven't been able to live in the house since December. I don't want that to be me. I guess at this point it is in the lawyers' hands. I'm just afraid this is going to be a dealbreaker and they are going to go with the other offer.

I can see why you are frustrated. The in ground oil tank may or may not be an issue. Just because there is one does not mean there is anything wrong with it. As a buyer's representative agent I normally advise that the tank be tested if the seller will allow it. You do need to be careful about the type of testing done and who performs these tests. If the tank is not leaking then I tell my buyer clients to eventually dicomission the tank or have it removed because it may affect future resale. The seller is under no obligation to take care of it but you may want to renegotiate your offer based on this.

I don't know if this agent is "your" Realtor. It sounds as though you put your offer in through the listing agent and his loyalty is to the seller so he can only provide you with information not guidance. It is a difficult place to be in and one of the reasons I became a buyer's representative to help people like you buy homes with the help of a professional on thier side. If you are working with him as your agent I am not answering this to solicit your business I just hear your frustration and want to help.

Good luck in whatever you decide to do. There are many sites that can help you learn more about in ground tanks. I have the links at my office but if you email me I will be gald to forward them to you.