Oil Tank

[CMCorbet422]

Just had a home inspection at the home my wife and I are planning on buying (first time buyers). Some issues with the Oil Tank came up. Tank is located in a crawl space under the house.

- Appears there is a leaking shut off valve
- Appears there is a leaking fuel line at burner
- Install legs were missing
- Noticed evidence of seepage at tank end-seam welds

Picture is below...

Im curious as to a couple things:

1. Do you think the Tank needs replaced? If so, any idea as to how much that would run?
2. Any thoughts on fixing the two leaks and costs for that?

Thanks in advance for your insight...

http://img515.imageshack.us/img515/285/oiltankissueun3.jpg

Direct Link to image: http://img515.imageshack.us/img515/285/oiltankissueun3.jpg

[joe in queens]

A good oil guy can repair the leaking valve - even with the tank full. But with what appears to seepage from the top seams, along with the tank sitting right on the floor where rust can accelerate, I would replace the tank with a double walled Roth or Granby safety tank. The cost of replacing the tank will be far cheaper than the second mortage that will be needed to clean up the mess if the tank gives out.

The leak at the burner seems to be the least of the problem there - from the phots it looks like the entire boiler has seen better days and should be replaced.

As for what is going to cost, that depends on the area and the results of a complete inspection by a pro. Shop around and get some quotes.