You’ve started spring cleaning early, spruced up your yard, and already found a real estate agent. Now, you’re ready to put your Connecticut home on the market. But first, does your yard have an oil tank underground? Are you wondering, “can you sell a house with an underground oil tank in CT?”
Research shows that around 542,000 underground tanks in America store hazardous substances or petroleum.
Discovering that your yard has an underground oil tank may leave you with the following questions: Can you sell a house with an underground oil tank in CT? Do you have to remove an underground oil tank in CT? And are underground oil tanks legal in CT?
Here’s a rundown of everything you need to know about selling homes with underground oil tanks.
Can You Sell a House with an Underground Oil Tank in CT?
You can sell a home with an underground oil tank in Connecticut. However, the presence of a tank might make your house more challenging to sell. That’s because even if your tank isn’t used, you may experience complications, like leaking.
Before you sell your home, you must disclose the presence of your property’s tank to potential buyers. In addition, you must report the age and location of the tank.
A serious buyer may ask you to remove the tank before they buy, or they might offer you less money for the property because of the tank.
The tank may be a deal breaker for non-cash buyers, as many lenders will not fund mortgages for properties with oil tanks. Likewise, many homeowners insurance providers won’t cover underground oil tanks.
Are Underground Oil Tanks Legal in CT, and Do You Have to Remove an Underground Oil Tank in CT?
It is okay to have an oil tank on your property. In addition, no regulations in Connecticut require a homeowner to remove an underground storage tank for oil if it is not leaking.
However, you should contact your municipality to find out about local ordinances or regulations governing underground oil tanks.
Note that as your tank ages, it is more prone to leaking. In this situation, it will need to be removed right away.
That’s because a leaking tank can contaminate the soil. It may therefore pose a risk to human health and the environment. For example, it can expose you to liability if a neighbor becomes sick from your tank.
Given the above, you may want to go ahead and remove the tank before you attempt to sell your home.
How We Can Help
If you discover that your home has an underground storage tank for oil, you may be asking, “Can you sell a house with an underground oil tank in CT?” You might also ask the following questions: “Do you have to remove an underground oil tank in CT? And are underground oil tanks legal in CT?”
Removing an oil tank from your property isn’t mandatory if it’s not leaking. However, it will make it harder for you to sell your home. Fortunately, at Stewart Environmental Remediation, we can remove your oil tank.
Contact Stewart Environmental Remediation to receive a quote today!