The tank i recently inspected in West Islip NY was poorly installed atop loose concrete blocks, and the tank legs are rusted.
If left as is and the legs collapse or shift due to the weight of a full tank, then a leak occurs, the cleanup costs will likely be real BIG!
This may not happen, but do you want to take a chance on an oil spill, and then have the DEC (Dept.of Environmental Conservation) come knocking and issue you a spill number? The records of this would stay on file with your municipality and could cause you lasting issues.
This is also a potential turn off for buyers who may find this out, so is it worth it?
Nope! Have your oil tank properly installed, and if it is older than 25 years old replace it. Tanks always have condensation that settles to the bottom and rusts the tank from the inside.
Ray Wilson is a Home Inspector, covering all of Long Island (Nassau and Suffolk), the 5 boroughs of NYC and now upstate NY. For any home inspection related questions he can be reached at Meticulous Home Inspection Corporation. He can be reached at 631-902-6761.