Old oil tanks in New Jersey

[Jaago Viitkin]

Hi everybody, I am buying a home in Union City, New Jersey (currently under contract) Home inspection found an oil tank in ground that has not been in use for 10 years. I wanted to get it removed by seller, but they are offering me to fill it with sand (since it is cheaper)

They are saying everything will be done by the law and they will provide documents the oil tank is neutralized and the land is not contaminated.

ANY COMMENTS?? 

Should I accept the offer??? 

Anybody had issues with old neutralized tanks in ground??

Thank you 

[Steve Wilcox]

@Glenn Semeraro That number is WAY high unless there is soil contamination. The price to remove a normal tank with no contamination is about $2,000 unless its under the driveway, sidewalk, or some other condition that makes it harder to remove. 

I buy houses with underground tanks, BUT I will remove the tank while the current owner still is the owner. I pay to remove the tank myself generally , but before I take title to the property. If there is a problem then it is out in the open and its the sellers problem, you can adjust your price accordingly, or they can clean up and then I will close. The challenge is your money for removing the tank is at risk if there is a problem and the problem is either more than the value of the home, or the seller is clueless. 

I do not like sand filling tanks and neither do most buyers if you plan to sell the house.  

Call a few tank removal companies and get actual quotes, ask the buyers to credit the cost of sand filling it towards actual removal.