How to Buy a Home With Propane and/or Oil Tanks

When you buy a home, you need to know everything about the propane and oil tanks. Who owns them? Have they been tested recently?

When buying a home in the Baltimore area, you need to be aware of propane tanks and oil tanks.

As a buyer, you need to know who owns these tanks and whether they've been tested. Always ask your agent who owns the tank; they can talk to the listing agent and find out.

If you have a smaller tank, it's likely just used for cooking. If you're looking at a home that uses propane for everything (cooking, hot water, and heat) then you'll likely have a much larger tank. In that case, it will likely be a 500- or 1,000-gallon tank. These tanks can either be above or below ground.

You really want to be careful with these tanks and be sure that the home seller owns them. If not, hopefully they'll have information about the company that owns the tanks. Make sure you clarify this at the settlement table.

Heating oil is used for hot water and heat. Usually, you'll have a 275-gallon tank in the basement or outside. Larger homes might even have an underground tank that's 500 or 1,000 gallons. I definitely recommend having these tanks tested. If they haven't been tested in the last five years, let the listing agent know that you wish to have them tested. You don't want to move into a house with contaminated dirt.

One thing you don't want is to move into a home with contaminated tanks.

I hope this information is helpful to you as you look for your next home. If you have any questions for us, don't hesitate to give us a call. We'd be happy to help.