Oil tank in basement - should I remove?

17 Replies

Converting from oil to gas furnace. Should I remove the oil tank in the basement? Quote to remove is $700. It's a flip, but could be a rental if it doesn't sell at the right price. Thanks, David

I left mine in when I replaced the furnace on my primary residence.  

The main question is the basement living space or storage.  Also is the tank tucked away out of sight or easy to see.

My basement is for storage and it was tucked way back in a corner that was very unlikely to ever be used for anything.  

Thanks Nathan. It's sort of hidden, so not a problem from a storage perspective, but I'm worried about resale or further issues of contamination. It's in New Jersey, which seems to be more sensitive to oil tanks.

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If it is going to be a deficit on sale take it out. If you want to potentially save the $700.00 you can wait until they ask you to remove. It will come up in inspection I expect.

In NJ, I'd remove it. You're likely going to have to when you sell it.

As a rental, I'm sure no one will care... but at some point, it's gonna have to go.

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For $700, I wouldn't even think about it.  No homeowner wants to think about potentially dealing with something like that.  Yank it out and move on!  Good luck with the project...

I've seen a rental property that was flooded with heating fuel because the renters assumed it was oil and the tank and the fill pipe were still there but no longer attached. Renters called for a delivery the truck came and pumped away.

Remove all traces of it!

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If it's pumped out just cut it up with a saws all and sell it for scrap.

Start by drilling a hole to allow the saws all blade access and cut a window in the side to access any remaining oil. Clean it out and cut it up as small as necessary. It's not a big job.

It is not explosive.