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Oil Tank Removal – Abbotsford to Vancouver

Oil tanks can be scary business. Finding an oil storage tank on your property as a seller can immediately strike fear into people. The horrors stories abound, like the oil tank in Vancouver where the leaking tank cost $160,000 to remediate. I am here to tell you that it ‘usually’ is not that bad.

According to Tom Kennedy of Action Oil Tanks, 80% of oil tanks do not leak. Further to that, less than 1% cost over $80,000 to remediate.

There are a few point that home owners need to know:

  • If a tank leaks, the soil conditions, slope and water table will determine the damage.
  • The owner of the property, and ALL previous owners are liable should a law suit arise from having a oil tank
  • General cost to remove is under $5,000 for a clean removal
  • A scan of your property can be performed to determine if there are any tanks under decks, shops etc… A cost to have your property scanned is about $450 – per GeoScan
  • Don’t leave your oil tank removal until the last minute. Your insurance company and your mortgage broker will not provide insurance or renew your mortgage if an oil tank is located and not removed properly OR tested every year.