The average cost of replacing an oil tank is $1,882. The cost ranges from $800 to $3,800 to install a 220 to 330 gallon oil tank. Oil tanks are built to last 10 to 15 years – eventually they will need to be replaced by a heating oil company. Most oil tanks are installed in the basement or underground.
Consequently, can I sell my old oil tank?
There are no laws that require this to be done prior to any transactions. However, even though you do not legally need to do it, you still should. It is unlikely you will be able to sell your home without removing the old tank. Here is why you should have your oil tanks removed before selling your home.
One may also ask, how much does it cost to dispose of an oil tank? Underground oil tank removal cost averages $2,500. The underground removal cost is high because it will need to be excavated. Above ground tanks can cost less to remove (see below).
One may also ask, who takes old oil tanks?
Go to Metal for a list of metal recycling facilities. You will need a permit from your local Fire Department to remove a buried oil tank. If the tank is unused or abandoned, any remaining heating oil should be removed by a qualified contractor and taken to an approved facility such as Envirosystems Inc. for disposal.
How much does a 275 gallon oil tank cost?
Ballpark to install a 275–gallon tank above-ground is around $2,200.00.