If you're in the process of buying a home, congrats! It's a huge accomplishment. But before you sign on the dotted line, there's one more thing you should do to ensure you're making a sound investment: do your due diligence and get an oil tank sweep.
An oil tank sweep is exactly what it sounds like, a professional comes out and thoroughly scans your property for evidence of an oil tank. It's important for a few reasons. First, ensure there isn’t an abandoned oil tank on your property before you purchase. Second, if an oil tank is found the seller is responsible for all removal and remediation costs prior to closing removing the liability and expense from the buyer. Finally, it gives you peace of mind knowing that your new home is clear of any costly environmental issues and concerns.
How Much Does an Oil Tank Sweep Cost?
The cost of an oil tank sweep will vary depending on the location of your property and the equipment used by the company you hire, but it typically ranges from $225 for standard metal detection and up to $400 for an oil tank sweep with ground penetrating radar. While this may seem like a lot, it's important to remember that an oil tank sweep is a preventative measure that can save you thousands of dollars down the road.
When to Schedule an Oil Tank Sweep
You should always schedule an oil tank sweep before buying the home as part of the inspection process. However, if you're already in escrow, don't worry you can still get it done. Just be sure to schedule the sweep as soon as possible so that there's enough time to take the necessary actions before closing on the home.