You will need to review the policy for the details and exceptions etc. However you should keep this in mind, oil tanks generally are test on the four sides for leakeage, not below the tank.
With that being said it is best to get the tank removed and put above ground and the state has a grant available that covers the cost for this (generally) and then you can ensure there is no leakage below.
Hope this helps!
John W. Davis Jr., VREP
RE/MAX Village Square - Upper Montclair
Office: 973-509-2222 x174
Community Information: http://community.njpads.com
Customized Market Information: http://market.njpads.com
I am being told my some to test the tank. If the tank fails then the seller is 100 percent responsible for removal and replacement along with clean up. If the testing passes the test i am left with a ticking time bomb so to speak. This house is everything we wanted and then some and the price is below market value. There is minimal issues on home inspection. The tank seems to be the only issue and a big one at that. I need help in making this decision!!
HAVE SELLER PULL IT!!!
I think you need to simply have the seller remove the tank and provide a bona fide closure certificate, or move on to another house. That tank has to come out, not be tested.
You don't want to inherit this problem under any circumstances.