- Sep 29, 2004
- 18,656
- 67
- 91
I just founf a potentail "hot deal" in town. They jsut reduced the price of this place. Location is OK to awesome depending on what we do to it.
Anyways. it has an inground oil tank, which is probably why it isn't selling. how much to yank one of those out?
Only concerned wtih removal at this point. I would have the tank tested for leaks as a contingency so assuming I have soil to clean up.
-- EDIT --
Today I ran into a friend at work. his brother does this kind of work, albeit half way accross the sountry. I asked him what clean up costs arounf here. He said $750 per 55 gallon drum. That's probably half of a yard, so $1500 per yard! That can add up VERY quickly depending on the severity. I think he said one gallon of oil tpically requires the removal of one barrel. So if a tank leaked 50 gallons over 10 years say, that's 25 yards of dirt to remove. Or $37,500! When he mentioned this, I would assume this is how his brother does estimates. The true amount needed to remove is ultimitely decided by the EPA. So, it's remove what you think is contaminated, have EPA retest the soil. REPEAT till area cleared.
So, the house is pretty much a tear down if the contaminaetd area is near the foundation. So, one might as well expect to typically be buying the lot plus a headache ($$$). The lot is in an almost perfect location though.
Anyways. it has an inground oil tank, which is probably why it isn't selling. how much to yank one of those out?
Only concerned wtih removal at this point. I would have the tank tested for leaks as a contingency so assuming I have soil to clean up.
-- EDIT --
Today I ran into a friend at work. his brother does this kind of work, albeit half way accross the sountry. I asked him what clean up costs arounf here. He said $750 per 55 gallon drum. That's probably half of a yard, so $1500 per yard! That can add up VERY quickly depending on the severity. I think he said one gallon of oil tpically requires the removal of one barrel. So if a tank leaked 50 gallons over 10 years say, that's 25 yards of dirt to remove. Or $37,500! When he mentioned this, I would assume this is how his brother does estimates. The true amount needed to remove is ultimitely decided by the EPA. So, it's remove what you think is contaminated, have EPA retest the soil. REPEAT till area cleared.
So, the house is pretty much a tear down if the contaminaetd area is near the foundation. So, one might as well expect to typically be buying the lot plus a headache ($$$). The lot is in an almost perfect location though.
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