When selling my home with oil heat, can I request a credit from the buyer for the oil in the tank?

Tom
Home Seller
Ambler, PA

We have at least 100 gallons of heating oil that will be turned over to the new owners - shouldn't we get some sort of credit for it?

Answers (6)
Judy May, Esqui...
Agent
Collegeville, PA

Tom, as stated by my colleagues already, this issue is probably already addressed in the Agreement of Sale. To the extent this was an issue, ideally it should have been raised in that document initially.....as a legal matter, the rights and obligations of the parties have already been set. Is it POSSIBLE to negotiate this point? Of course, by way of addendum to the Agreement. It is advisable -- especially given this market? Probably not. I would sugest that you reach out to your REALTOR who can best adivse you, given that s/he knows the parties involved and the issues you may have already dealt with.

Good luck and blessings to you..........

Warmly,
Judy

Judy May, Esquire, REALTOR
"A Refreshingly Different Real Estate Experience" http://www.JudysFineHomes.com
Judy.May@Century21.com
CENTURY 21 Alliance
2828 Audubon Village Drive
Audubon PA 19403
O: (610) 666-0202 x. 226
C: (610) 324-5240 (preferred)
F: (610) 666-1942

Search 1000s of GREAT homes! http://www.CollegevilleAreaHomes.com

Tue Jun 30 2009, 13:44
Jennifer Daywalt
Agent
Phoenixville, PA

Good Morning Tom,

As stated the agreement of sale specifically states that all unused heating oil on the property remains there at the time of settlement. There is no mention of reimbursement. I know 100 Gallons is a lot however in the scheme of the entire process its a minimal thing to argue over. Bev hit it right on, you will be seen as someone who is trying to get every last cent and someone who is difficult to deal with. Good Luck with your sale!

Jennifer Daywalt, Realtor
Top Agent 2004, 2005, 2006, 2007, 2008
Re/Max Results Realty - Collegeville
610-489-7355 Main Office
610-999-7693 Direct Line
Selllinghomesjenn@aol.com

Tue Jun 30 2009, 04:47
Bev Kalb
Agent
Bally, PA

As previously stated, the standard language in the agreement of sale under inclusions lists any unused heating on cooking fuel stored on the property at the time of settlement as staying with the property. Stating in the MLS that the fuel oil will be prorated may appear to potential buyers that you may be difficult to deal with during negotiations and inspections. I always tell my sellers to stop any automatic deliveries.
Bev Kalb
Century 21 Longacre Realty
610-845-6000 x 208
610-442-6897 cell http://www.century21longacre.com

Tue Jun 30 2009, 04:03
Karen E. Rice
Agent
Hawley, PA

You can ask for anything you want. Whether you get it or not, that's a different story. If I were you, I would just let it go with the house - that's how the standard contract is written anyway. As stated below, is it worth the sale of your home? The buyers are already paying pretty hefty closing costs as it is, and they may just be unable to squeeze out that last few hundred dollars....

I strongly suggest that you cancel any automatic fill ups, if you have any scheduled, and go to "on demand" basis for fuel, and only fill the tank with the minimum amount until settlement.

Mon Jun 29 2009, 19:32
Fran And Mark R...
Agent
Yardley, PA

Tom

You can negotiate anything you want. The standard PAR form contract gives the oil in the tank to the buyer. This was done to avoid problems with who owns it and how much is actual useable versus sludge or water. In the market today if you get an acceptable offer on your home forget about the oil in the tank and just close the deal.

Fran and Mark Redding
Prudential Fox & Roach, Realtors
1010 Stonyhill Road
Yardley, PA 19067
215-321-3307 Direct
215-208-7169 Cell http://www.franandmark.com

Mon Jun 29 2009, 19:27
Sean Dawes
Agent
Philadelphia, PA
FIRST ANSWER

You could do that but is that worth maybe hindering a sale or is this deal already going to settlement soon?

Mon Jun 29 2009, 19:26

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