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FHA Underground Storage Tanks

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Rumrunner

Sophomore Member
Joined
Sep 19, 2006
Professional Status
Certified Residential Appraiser
State
Virginia
In am doing an FHA refinance and the property converted from oil to electric heat. The property has an abandoned underground storage tank. What do I have to do? Thanks so very much for your help. Most respectfully,
 

Mr Rex

Elite Member
Joined
Jan 12, 2004
Professional Status
Certified Residential Appraiser
State
North Carolina
Note that there is evidence of a UST and if there was any evidence of leaks etc.

The appraiser must note any readily observable surface evidence of USTs, such as fill 17 pipes, pumps, ventilation caps, etc. The presence of a UST does not automatically trigger 18 an inspection requirement. If there is readily observable evidence of leakage or on-site 19 contamination, the appraiser must make a requirement for further inspection.
 

Rumrunner

Sophomore Member
Joined
Sep 19, 2006
Professional Status
Certified Residential Appraiser
State
Virginia
Thanks so much, Mr. Rex!
 
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