A credit is given to the sellers for any fuel left in the oil tank. If the sellers request a reading from the oil company with enough notice, it will usually appear on your HUD-1 (Settlement Statement).
If it is done at the last minute then you may have to write a personal check at closing to the seller. It depends on timing and the attorneys.
Congratulations on your new home!
It is customary in CT that the seller is reimbursed for the Oil in the tank at closing. The As Is clause pertains to the condition of the property and it's mechanicals. It is suggested to have the oil company come out to measure the amount remaining and fax a statement of cost to the agents and attorney's involved. Congratulations in advance with your home purchase.
The oil in the tank, at closing, is credited to the seller at the going market rate. This also depends on how the purchase and sale agreement is written, you could ask that the oil be included in the purchase.
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