Oil Tank Removal: Top 7 Reasons To Get An Oil Tank Detection

Although property transactions are usually the main reason people need an oil tank detection or oil tank certificate, there are some other important reasons that you may want to get an oil tank detection. 

Oil Tank Detection

Selling Or Purchasing A Property

If you are buying or selling a home in Greater Vancouver or the Fraser Valley, you may already know that if you have an older home it is important to get your property scanned to see if there is an oil tank buried on your property.

 
If you are the property owner, typically your realtor will request that you get your property scanned for an oil tank before your home goes on the market.  

The 2 main reasons we recommend to get an oil tank detection as quickly as possible during a property transaction are:

Marketability:
When you have a prospective buyer for your property, it is important to have your oil tank certificate ready upon request.

There is a high probability that the buyer’s realtor will ask if you have an oil tank on your property and request that an oil tank detection certificate be provided to them.

If you do not have your oil tank detection certificate available at that time, it can give the buyer a reason to continue on to the next property.

Deadlines | Subjects For Removal:  

During the sale of your property things can start moving very quickly and your subject for removal deadlines can come even quickier.

Between preparing your home for sale, finding a new home to live in, and multiple showings per day, it can be easy for an oil tank detection to be put on the backburner and consequently forgotten.

It would be devastating if your deal collapsed because you could not obtain an oil tank detection certificate in time.

 
Even worse, if an oil tank was unfortunately found on your property, you may not have much time to remove the oil tank, if your deal is dependant this subject. 

Oil Tank Detection

It Can Effect Your Mortgage Application

In the past couple years, it seems that many banks and lenders have started to tighten their rules regarding oil tanks.

Oil tanks can be seen as a liability, so some financial institutions may request documentation that there is no oil tank is on your property.

This may effect your application if you are deciding to refinancing, renew, reverse or apply for a new mortgage.  

Oil Tank Detection

It Can Affect Your Home Insurance

Similar to banks, insurance companies have started to request documentation to support that you have no oil tank on your property.

At the time of your application they may ask you for:

• An oil tank detection certificate
• Documentation to support that your oil tank has been removed properly (Oil tank removal certificate)
• Documentation to support that your oil tank is in good working order. (Oil tank inspection certificate)

 
Some insurance companies will request that you have your oil tank is removed before they can provide or renew home insurance on your property.

Oil Tank Detection

Local Municipality Requirements:  

In some cities, it is a requirement to provide documentation that you do not have an oil tank on your property.

 
In West Vancouver for example, a property owner needs to provide the city with an oil tank detection certificate to show that there is no oil tank on their property.

 
If there is an oil tank on the property, the property owner will typically have to remove it or pay a yearly fee until it is removed.

Oil Tank Detection

Renovations Or Demolition:

Deciding to demolish your house or rebuild is a big decision.  With so many other things on your mind, it would be easy to forget to check oil tank detection off of your “to do list”.

After all, many people tend to only think about oil tank detections when they are selling their property.
Imagine saving money towards your dream renovation.

You may have decided to install new decking, repave an area, add an extension to your home or even build a coach house.

Now imagine discovering half way through your project (or even worse once the project is complete), that you have an oil tank buried in the area.  

This could leave you in a tough spot, ending up costing you a lot more time and money than anticipated.

Sometimes your contractor can run into roadblocks at city hall when applying for permits if they cannot provide an oil tank detection certificate.  

Even though this may seem inconvenient at the time, it could potenially save you from alot of heartache in the future.

If your contractor gets the application for your demolition or renovation approved without an oil tank detection certificate, an undiscovered oil tank may be on your property.

If there is an undetected oil tank on your property during a renovation, your project can quickly turn into a bad situation.

Did You Know…

Oil Tank Detection

Oil Tank Related Items Found At Your Property:

Maybe you…

have seen a pipe for years at your property and just ignored it because you didn’t know what it was.

Maybe you… 

were digging around in your garden or walking around your property and came across a pipe.

Maybe you…

were doing some renovations and found a pipe or emergency oil shut off switch.

We regularly receive calls from clients in these situations. We realize that it’s never a good surprise to find suspected oil tank related items on your property.

Keep in mind that sometimes the indications that clients find on their property are not oil tank related at all, but the best way to find out is to get an oil tank detection.

Oil Tank Detection

Being Proactive:

Even though many people wait for the situations above to arise before they decide to get an oil tank detection.

We feel that it is better to be pro-active than reactive.  

Potentially you could save thousands of dollars by being proactive about scanning your property.

Time is of the essence… The longer that your oil tank remains buried underground can increase the probability that it may start to leak or the contamination potentially may migrate further.

In conclusion, not all properties have oil tanks and not all oil tanks have issues with soil contamination;however, being proactive about determining if you have an oil tank on your property can end up saving you money, or at the very least give you peace of mind.