Investor · Morristown, NJ · Member since 2016 · 19 posts · 1 vote
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
Investor · Morristown, NJ · Member since 2016 · 19 posts · 1 vote
9y
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.
Investor · Narragansett, RI · Member since 2013 · 8k+ posts · 4k+ votes
9y
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.
Investor · Philadelphia, PA · Member since 2016 · 2k+ posts · 1k+ votes
9y
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.
Investor · Wyckoff, NJ · Member since 2015 · 100 posts · 35 votes
9y
@Account Closed
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...
Contractor · Greenfield, MA · Member since 2017 · 107 posts · 99 votes
9y
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!
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.