1. Water in the hot water heater/furnace, it's gone through the meter, should that be reimbursed? Final water read is usually several days prior to closing, has the seller recieved benefit for that unimpeded use?
2. Gas in the gas lines, gone through a meter, should that be reimbursed also?
3. Pro-rate a security/alarm system contract?
I think it's one of those situations that is nit-pickey. What about the difference in oil tank levels between offer to purchase/purchase & sales contract & closing? How to account for sludge in tank? What if the buye tells the seller to take the oil with them, oil removal is usually more expensive than delivery?
Whenever there is a contract dispute, first refer to the contract. Does the Agreement of Sale mention the oil and what to do about it? If not does it address what to do about personal property left on the premesis after closing? What is the local custom with regard to oil in the tank at closing? You can refuse to pay remind the bank (seller) that your purchase was "AS IS" and if the oil is there at closing it's yours. Also point out that if they remove the oil and damage the tank or the property in the process that they will be responsible for repairs.
In Pennsylvania we address this issue in the AOS and any oil in the tank goes to the buyer without any additional payment or reiumbursement to the seller.
I can certainly understand your point regarding "as is" .
Dallas Realtor and Consultant, Mortgage Loan Officer, Lecturer regarding Credit Repair
â€“ Lynn A. Crosby