You are excited about owning your home and all set to adorn it in style. Be aware if you are buying a home in North Vancouver, it may have a hidden oil tank on it. If you want to be sure that there is no oil tank, call experts who can address the issue well. However, if they confirm the presence of an oil tank, you should get it removed by experts without further delay.
Following are the reasons why you should remove the oil tank:
Observe for Leakage
The oil tank that you have buried on your property is likely to start leaking if it is left overlooked. If it is so, there are chances that oil may pervade your basement walls and make its way to a neighboring property, pollute groundwater or get into the city sewer system. All of the factors may add to your homeowner responsibility and costs in future.
Sale of Property
If there is an underground oil tank on your property and it comes under the municipality throughout Greater Vancouver, it should be removed. It is helpful in selling property too. No matter whether the oil tank on your property is leaking or not, it is your responsibility to remove it before selling your home.
Consider the Insurance
While dealing with insurance company, you may get into hot water it your property is known to have an underground oil tank. Many insurance companies issue homeowner insurance policies after getting certification that the property’s oil tank has been removed and there is no soil contamination present.
Follow the Law
Municipalities in Greater Vancouver area need property owners should remove the hidden oil tanks. It is applied to those oil tanks which are not required and have been out of service for at least two years. So, if you do not remove it, you may have to face legal issues as well. Now, it has become law to remove the buried oil tank from your property.
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