Ontario Tax Sale Property Forum

Tax Sale Forum => General => Topic started by: Pfm1011 on May 22, 2015, 04:35:31 PM

Title: Dangers of Tax sale which you might ignore ..leaking heating Oil tanks
Post by: Pfm1011 on May 22, 2015, 04:35:31 PM

There was a email sent yesterday that  brought up an interesting point that many people would consider to be a little thing but is actually a  huge problem and worth "running away" from.

Apparently the Chatsworth piece had leaking heating  oil tank and ground was being monitored.  At first I think most people would think a leaky furnace oil tank is nothing to worry about.

A simple google search will show you different

http://www.timescolonist.com/news/local/leaking-home-heating-oil-tank-leaves-financial-nightmare-for-saanich-neighbours-1.567924

http://atlantic.ctvnews.ca/family-loses-home-business-after-massive-oil-tank-leak-1.1314535

The few hundred gallons in a old heating oil tank can destroy the well water in the area. The clean up costs can be vastly more then the property value and you have no one to go after. You will be stuck with the bill which converts to walking away.

Add that to the list of perils.

If the winner is on here I would do some research before closing on the piece ( presuming you hadnt already)

Title: Re: Dangers of Tax sale which you might ignore ..leaking heating Oil tanks
Post by: jt on May 22, 2015, 06:34:07 PM

How does one find out whether there is an old oil tank that is leaking?  I'm sure the only way to know for sure would be to do soil tests, but I suspect you discovered the oil tank another way?

Title: Re: Dangers of Tax sale which you might ignore ..leaking heating Oil tanks
Post by: Frank on May 22, 2015, 08:26:22 PM

PFM is correct on this one folks....I've seen it happen and the costs can be astronomical.  The winner should be running not walking away from this one, cut your losses.  8)

Title: Re: Dangers of Tax sale which you might ignore ..leaking heating Oil tanks
Post by: mountainman on May 22, 2015, 10:26:26 PM

I am Mountainman

This one my interest has peaked,

but how do you know it has leaked?

The oil in the ground,

may be around.

But it may all be a rue,

so it is only to you.

But if oil is there,

this one you must beware.

To remove the black gold,

will make you quite old.

The cost will be great,

and you may not know the rate.

Because once you start,

you'll shoot in the dark.

Six figures or more,

but I no longer shall bore.

Speak to your mate,

Before it's too late.

But this Texas tea,

is not for me.

Farewell for now,

I hope you do well.

For I am Mountainman.

Title: Re: Dangers of Tax sale which you might ignore ..leaking heating Oil tanks
Post by: Pfm1011 on May 23, 2015, 12:23:14 PM

it appears someone needs a hobby

Not saying to walk as I have no idea how bad this is  but definitely do a little research prior to closing. CYA . The town should have  all the  info  re the monitoring wells