How Do I Sell My House With An Underground Oil Tank That Has A Leak?

How Do I Sell My House With An Underground Oil Tank That Has A Leak?

You may have known or just found out that a house you were intending to sell with an underground oil tank has sprung a leak. Do not panic. Although this can be a very stressful time, especially if you are relying on the sale of this house, there are steps you can take to get your oil tank removed. Even if you need the money right away and feel like you have no other option than to sell it outright, there are some precautions you should take.

Do not sell it for all cash to an investor if it has a leaking oil tank. But, let’s just say this is what you decide to do. A business comes in and buys it in cash from you. Unfortunately, the offer you will receive may not be what you were expecting. These investors will heavily take into consideration the fact that you have a leaking oil tank. Houses with leaking oil tanks are a huge risk to investors, so the offers will be much lower than what you are probably expecting.

What Are My Options?

Simple Tank takes into consideration all aspects of personal life to help consumers afford repair work in order to help them get their home into sellable condition if your oil tank has leaked. Simple Tank does offer several financing solutions to customers. This is a great option for a consumer that may not have the money to afford repairs upfront. Simple Tank offers financing options that could allow customers to not have to make a payment for twelve months, potentially giving them a long enough window to sell their home. You are able to take what you have made from the home to pay off the loan.

Simple Tank also offers a service that allows us to discuss with both the buyer’s attorney and the homeowner’s attorney. The home must be in good standing for this process to go through and there must be a buyer in the picture. If the tank is really the only misstep with the house, then Simple Tank will sometimes get paid at closing. Once the home sells, a check will be sent directly to Simple Tank to cover the costs. There is no money needed out of pocket for this service.

Why Simple Tank Is The Only Option

Selling your home for cash to investors is not an option you should consider if you are experiencing money shortages. A leaking oil tank is a problem with the home that investors will heavily consider and will use it as leverage to make you a low offer for the home, which is why having a warranty or insurance is important. This can be frustrating and you will not be getting what the home is worth. You will get the least amount of money with this option. Instead, you will want to be able to get the oil tank fixed up. Simple Tank provides you with two options: financing and paying the contractor at closing. Both of these options require no money up front and will get you your maximum value for the home.

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