[Shop-talk] New house / underground oil tank

[shop-talk2 at mcfetridge.org]

I just went through the same situation and it looks like everyone has
offered the advice I would give, so I'll just summarize my experience.  The
contract of sale was written on the condition that the tank was removed and
remediated, as necessary to receive state approval as clean.  We were
supposed to close on June 1st, but the tank had some rust spots and showed
signs of leakage.  After removing about 1000 cubic feet of earth and
retesting, we now have the state certification that it is clean.  Data
points:  $11,000 in total costs to seller (and insurance), two months to
remediate, and the mortgage company & State Farm both wanted to see the
final state certification.  

- Ian