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Janis Borgueta and Kat Palmiotti could help you, I believe.
Dorie Dillard Austin TX
Ron and Alexandra Seigel
Tony and Suzanne Marri...
Nina Hollander has the answer..good persons to contact!
I'm in the Hudson Valley but don't have any good examples of buried oil tank issues. Many buyers/sellers have either natural gas or an above-ground oil tank. You may want to take a look at the NY-state EPA website for more information on rules and guidlines associated with oil tanks. http://www.dec.ny.gov/chemical/32263.html.
Debe Maxwell, CRS
Kat Palmiotti is the only New Yorker I can think of off hand.
It looks like you have some good responses here. I have no experience with that. I wish you all the best.
What Nina Hollander said. A
Nina Hollander nailed this one!
Call a local RE/MAX office.
Janis Borgueta and Kat Palmiotti may be able to help.
Afraid I can not add anything helpful to this question but I will read the other answers to learn more :-)
Greatings Elizabeth R. Elstien I am not an expert on the regulations, but I believe that different municipalities may handle the regulations somewhat differently.
I have done a couple of deals where clients have purchased homes that previously had a in-ground tank. In my experience the attorneys recommend to clients that it be removed prior the transfer of deed along with the proper permits from the town, and any testing necessary. I do not know the costs to the seller for this. Costs would depend on what was involved in the tank removal, and if there were any problems found during the removal.
I hope this helps.
I have experience with that but, in NC, not NY! Looks like Kat Palmiotti gave you a great resource!
Others have answered.
Best wishes on your article.
I'm familiar with MA laws...had one decades ago at my own property...it never leaked so I dodge a very expensive bullet....
Not in NY state, but in nearby CT you can't convey a property with a buried oil tank - has to be removed, ground tested by state lab, new above-ground tank installed. I actually worked on a transaction like that and it's not a big deal. The removal and new installation plus testing was only about $2K. Easy research for you to look up local costs.
Although not in NY, we have them here in NH as well. Most often I see propane tanks that buried. Only once in 30 years have i seen an oil tank under ground. For us any tanks over 10 years, it is recomended they are replaced.
I am dealing with one of these right now
I would think that the local building department would be a good place for some information.
Many good AR agents in the area, main rule is disclose, disclose and disclose.
May get better answers to your question by going to an environmental consultant or investor.
How about those of us from San Mateo, CA that dealt with the same issue?
Two solutions were: removal or re-lining it to stop the leak and just leave it buried.
Typically, our buyers deal with it by having the sellers remove it, provide documentation of such, & getting the soil tested.... and it really has to be the RIGHT house. They often run beforehand.