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May 9, 2024

Do You Need to Look for Hidden Oil Tanks When Buying a Home?

Buying a house in places like Vancouver can be exciting and stressful, especially if there is a highly competitive real estate market with many buyers vying for limited properties, which is often the case. When you are at the last hurdle and suddenly find your dream home, the first thing that comes to mind is to sign the contract. However, this should be avoided, and one should be thorough in research as it can result in unanticipated explorations, both figuratively and literally!

Underground Oil Tanks in Old Vancouver Homes

Several old households in Vancouver City were built when gas and electric heaters were uncommon. Rather than using central heating systems, these houses burned oil in their furnaces to give off heat. Oil storage tanks were buried underground for storing these systems. Even after the evolution towards newer heating solutions, these underground tanks remained buried under the ground.

The Dangers of Leaking Oil Tanks

As time passes, the corroded metal starts leaking oil and creating oil spills. Oil spills can entail irreversible ecological damage, health hazards, and significant remediation expenses. Oil tank inspections are necessary because the danger is that oil tanks may contaminate the surrounding soil and groundwater bodies. For this reason, buyers must have oil tank detection inspections before buying older homes.

What is Oil Tank Detection?

So, what exactly is oil tank detection? This is a process by which buried storage tanks used to store house heating oil on the property are located and revealed. Professionals conduct this in various ways, and some of the tools or methods used include visual inspections, ground-penetrating radar, metal detectors, soil testing, and record searches. As each technique has strengths and weaknesses, combining various methods is an appropriate way to achieve the desired result.

Negotiating with Sellers Over Oil Tank Liabilities

Suppose an oil tank is discovered on a property you want to buy. In that case, you can demand the seller to remove the tank, remediate the soil, and perform any other necessary actions. It guarantees that no liabilities or long-term commitments are passed on to you. In addition, you may ask the seller during price negotiations to reduce the price of the house to a level that can cover the costs of dealing with the tank. Oil tanks are often a concern for sellers and buyers of older homes built before the 1980s. Transparency about all the underground tanks will help one deal with this issue in advance, preventing delays or added costs during the sale.

Protect Your Investment with Professional Oil Tank Detection

Oil tanks can cost you a lot, whether you are a buyer or a seller. Unseen dangers can ruin your property. Ensure your own protection and the assurance of a sound investment by adopting oil tank detection tests as a standard for your home inspection.

To get professional oil tank detection in Vancouver, you can check with West Coast Tank Recovery. We have experienced staff who use new technology and tools for oil tank detection, giving you confidence when pursuing a dream home.