Please refer to this very informative article on what you need to know about underground oil tanks, written by Tony Spagnuolo, Barrister and Solicitor.
~~~~~
As a home owner, you may want to remove an abandoned oil tank for a number of reasons:
- Due diligence,
- To improve the environmental conditions of your property,
- To satisfy a lender, prospective purchaser, insurance agent or local government,
- To remove high risk conditions, or
- To avoid negative impact to property value.
The responsibility for the removal of a tank and remediating any contamination falls on the current property owner. The costs of such removal can be expensive depending on how much remediation work is required.
Insurance and Mortgages
If an abandoned tank is found on your property, you may not be able to get fire insurance. Without fire insurance, you can't get a mortgage because of the risk of total loss in the event of a fire.
If you are purchasing a home and remove subjects on the house, and an abandoned tank is later found, if the seller is not willing/able to remove the tank, you may not be able to buy the property because you can't get a mortgage. This is when it gets expensive and stressful.
The thought of an expensive tank and soil removal project is intimidating. TankFinders can help you determine if you are eligible for home insurance coverage for this work.
Call TankFinders and our staff will explain the process step by step and answer all your questions. We will assist you in the process of removing your tank, taking soil samples, site clean-up, and insurance coverage.
New Regulations
Effective May 1, 2014, the City of Vancouver released a bulletin outlining new regulations for underground storage tanks. These regulations are now in-line with other Cities and Municipalities. The major changes are:
- the requirement to have soil sampling done for all tank removals,
- a new reporting template,
- and the requirement that a qualified professional sign off on all sites.
At TankFinders, we specialize in the detection and safe removal of abandoned oil tanks, soil samples and site remediation. We already perform our work in-line with the new requirements. We always take a minimum of 5 soil samples, we are using the new reporting template, and we always have a professional engineer on-site to take soil samples, monitor clean up and sign off all sites.
Testimonial: Remediate based on Lab Sampling Results, not Sight and Smell
"TankFinders saved us tens of thousands of dollars by simply sampling the soil immediately after the tank was removed. Our tank contractor told us the soil was contaminated, based on colour and smell. TankFinders spent considerable time explaining the benefits of accurate sampling and that the Ministry of Environment bases remediation on laboratory sampling results, not on sight and smell. The best money spent, is the money used for sampling and independent professional advise. The report was a professional document accepted by the Purchaser, bank and insurance company"
- Ted and Sarah, Vancouver
Testimonial: Soil Remediation and Restoration in North Vancouver
"The principal has provided a quote promptly indicating the exact cost and disbursement from consulting service to analyse the soil and provide remediation advice if necessary. Work was performed in a professional and timely manner. I would definitely recommend their service to anyone contemplating soil analysis and remediation."
- Michael W., North Vancouver