What happens when we find Underground Petroleum Storage Tanks (UST) at a home for sale? Sometimes nothing; sometimes a lot! Some lenders don’t care while other want the tanks tested for leaks and any soil contamination cleaned up prior to funding the loan.
Let’s say we’ve got a leaking UST with contaminated soil and the lender requires a clean up to fund the loan, what to do? In Virginia the UST’s may require a permit from the local city or county to install or remove. For removal and cleaning up the soil contamination we’ve used cost share money for the Virginia Department of Environmental Quality (DEQ). Sounds like a lot of paperwork!
In the past I’ve had clients use three companies Silka Environmental Services, Inc. , Jeffrey A. Sitler Environmental Services, Inc. and Pollard Environmental to test the soil, obtain the proper permits, apply for & receive cost share funds for the clean up, and manage the UST removal and soil clean up. Both did a great job.
The clean up cost my clients $500 and a little of their time with Cost Share paying the bulk of the clean up. If you selling a home with a UST or considering buying a home with a UST, I would suggest contacting one or both of the environmental firms to explore you options and learn about the available programs.