Underground storage tanks

Definition

The age, testing and insurance status of the fuel tanks buried under the site.

Why It Matters

Buried fuel tanks are the one item on a site that can cost more to fix than the business is worth, and their age, testing records and insurance status are all documented. A tank near the end of its life is a capital call the seller is handing over. Ask for the tank age, the last tightness test, the state registration, and the financial responsibility coverage, and price the replacement into the offer.