Real Estate and Underground Oil Tanks

If you are a real estate agent who is interested in learning about underground tanks in Virginia – this class is for you!

Virginia real estate agents will learn the facts about properly addressing an underground oil tank, and how to apply that knowledge when managing an underground tank during property transactions.

Pollard Environmental offers two levels of complimentary classes for local associations, or individual real estate offices (see information below).  Primarily, the class discusses Virginia state water control laws, local regulations, and financial responsibilities related to abandoned and leaking residential heating oil USTs (Underground Oil Tanks).

How Common are UST’s in Virginia?

Not surprisingly, underground oil tanks are frequently found on Virginia properties built before 1980. Particularly, after WWII, the installation of oil furnaces paired with the installation of underground storage tanks in new homes was widespread until around 1975. In this class, we’ll address key considerations every agent should know when managing a real estate transaction with residential underground tank.

Why Does This Course Matter for Real Estate Professionals? 

Designed to benefit real estate professionals, this class focuses on those involved in residential and commercial real estate transactions. Specifically, the course provides essential background information, key issues, and discusses the potential impact of USTs on human health, property value, and the environment.

So participants will learn how to identify and manage the risks of abandoned or leaking tanks how to safeguard themselves, and their clients, from legal and financial liability.  Most importantly, it outlines financial assistance programs available through the Virginia Petroleum Storage Tank Fund (VPSTF) to support corrective action when leaks occur.

What You Will Learn?

• Legal Requirements: How do Virginia State Water Control Laws and State Building & Fire Codes apply
• Advise: How should you advise your buyer or seller?
• Risk Management: What are the risks to human health and the environment?
• Issues to Consider:  Who is the responsible party?  What is the financial exposure?
  
• Virginia Financial Assistance: Will financial assistance from Virginia help?
• Process to Address: What is the process in properly decommissioning an UST in Virginia?

Interested in Scheduling a Class?

We offer two course options: a 1-hour CE “Awareness” class, and a  2-hour CE/PL “Comprehensive” course with time dedicated to case studies. There is a $15 filing fee per agent for those seeking credit through DPOR. Although agents who do not need CE/PL credit may attend at no cost. Classes can be scheduled through your local real estate association or directly at your office

To learn more or schedule a class, contact Pollard Environmental via the link below, and request a class. Let us educate you about underground oil tanks in Virginia!