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Soil Remediation - Fixed Price Contracts vs Open Ended Contracts

October 02, 20232 min read

We're here to ensure you don't find yourself facing a hefty remediation bill, upwards of $50,000+, right after purchasing your new home. .” - Teddy Slack

Introduction:

Greetings, everyone! It's Teddy here from Simple Tank Services, and today, we're delving into a crucial topic: understanding the choice between open-ended soil remediation contracts and fixed-price soil remediation contracts. We're here to guide you through the decision-making process, considering both the buyer's and seller's perspectives.

8 Reasons

When you're the buyer eyeing a property with an underground oil tank, your ideal scenario might be passing the responsibility onto the seller. But oftentimes, that's not feasible. That's where our expertise comes in. We're here to ensure you don't find yourself facing a hefty remediation bill, upwards of $50,000, right after purchasing your new home. To safeguard your interests, we recommend a thorough soil investigation using our advanced geo probe equipment. This investigation will determine the extent of contamination, allowing us to provide you with a fixed price for the cleanup.

Now, if you're financing your home through a mortgage, there might be complications in performing the cleanup after the closing. In this case, the cleanup needs to happen beforehand, with the costs deducted from the sale proceeds. Regardless, it's crucial to opt for a fixed-price contract. Going with an open-ended contract in such situations is risky. Although 80% of the time, costs may fall between $8,000 to $12,000, there's a 20% chance that unexpected factors, like groundwater or extensive contamination, could push the price much higher, even reaching six figures.

Here's where we stand out. Unlike many others, we offer a true fixed-price contract. When we quote you a figure, be it $12,000 or any other amount, that's precisely what you'll pay. We achieve this accuracy thanks to our specialized equipment and years of experience. As of my knowledge in April 2023, there's no other contractor in New Jersey offering such a definitive fixed price.

Now, if you find yourself on the selling end of a property with a leaking underground tank, you face a decision: open-ended or fixed price? If you're comfortable taking risks and prefer to gamble, an open-ended contract might seem tempting. Most of the time, costs stay within the $8,000 to $12,000 range if there's no groundwater impact. However, if uncertainty isn't your style and you want precise cost assurance, a fixed-price investigation coupled with soil remediation is the way to go. With this approach, you'll know the exact amount you're paying, down to the last penny, irrespective of unexpected challenges.

Remember, if another contractor removed your oil tank, you're not obligated to stick with them for the next phase. If you're unsure, reach out to us for a second opinion. We'll assess your situation and recommend the best contract option tailored to your needs.

Your peace of mind is our priority. So, whether you're buying or selling, don't hesitate to contact us. Let's discuss your project and determine the best course of action. Your worry-free solution awaits!


Teddy Slack

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