Zillow Advice: Buying Process - In CT, do I owe the seller (bank) for remaining heating oil if not included in the contract?

The best person to present ...

Mon, 11 May 2009 02:19:00 GMT

The best person to present that question to is your Attorney and ask him to settle the issue on your behalf.

I agree with Jack. You would ...

Tue, 14 Apr 2009 00:46:00 GMT

I agree with Jack. You would have to reimburse the seller.

Heating oil is personal property, ...

Fri, 10 Apr 2009 04:06:00 GMT

Heating oil is personal property, and the buyer normally compensates the seller for what remains in the tank. The attorneys request the amount (we generally verifiy the amount at the time of walk through, on the morning of the closing), and then the attorneys make the adjustment.

John Herman
TheBuyersRepresentative.com Exclusive Buyer Agents of Connecticut

Take another look at the ...

Mon, 02 Mar 2009 15:49:00 GMT

Take another look at the contract, particularly under the section dealing with "adjustments." In the contract we use here, it says,"all other adjustments shall be adjusted Pro Rata as of the closing date. "
Look for wording similar to that.
Interestingly, as an aside, many oil companies estimate remaining oil in tank based on degree- days rather than sending someone out with a dipstick or to look at the tank gauge. Sometimes these measurements are inaccurate.

Yes, it is normal for buyer ...

Sun, 01 Mar 2009 23:41:00 GMT

Yes, it is normal for buyer to pay for the heating oil remaining in the tank.

It is not normal for it to be in the contract.

Are you not planning to be using heating oil? If so, be happy you don't need a delivery the day you move in. Rather inconvenient, for sure!