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Whenever my grandfather (who was a business owner) would encounter a difficult customer that had unreasonable expectations he had a saying that I think might apply here with your seller. "people in hell want a drink of water too, doesn't mean that they are gonna get it either"
The agent and/or the attorney should have addressed this issue prior to closing with payment or non-payment addressed formally at closing. It is customary in this area to reimburse unless the seller chooses not to. Can also be a negotiating tool if the final walk through produces some repair questions that require more $ from the seller. Any reimbursement should be verified by a reading by the oil company/gas company and faxed directly to the attorney as close to closing as possible. Most attorneys will address this w/ the buyer's att prior to meeting at the closing table. Closings are like summit meetings in that everything should be taken care[negotiated and settled] beforehand. If something pops up at the last minute, agent should inform attorney so groundwork can be set before you get to the table. Have sold to folks w/ agents that use the closing setting to ambush the other side in hopes that they will gain leverage w/ an issue they were unable to "win" earlier. That always is a messy battle...... As stated in other posts, you have no way to verify the amounts 5 weeks later............unfortunately for the seller, it is an oversight the seller will now have to live with...... The question to ask, irregardless of the legalities or process, is " if your agent and attorney had failed to address this issue and inadvertantly you "gave away" a full 500 gal tank of oil [4.69 @ area pricing] what would you want your buyer to do? Seems the best course of action is to always ask yourself that question.........like disclosure: "if you were the buyer, would you like to know?"
Last edited by OCNYISHOME; 06-10-2008 at 05:55 AM..
Reason: sp
IMHO - You bought the entire property: Land, house, oil and plumbing. Send the seller a letter referencing the sale and tell them that you do not owe them anything for the oil. The deal is done.
I totally agree. The oil in the tank conveys. If the house included a pool, would you expect to have to pay extra for the water used to fill it??
Since it wasn't addressed, the oil conveys..however if it had been addressed before during the contract negotiations, the buyer would have to give the seller a credit for what is left in the tank. It's not the same thing as water in a pool.
It really isn't too far off if you're living in the parts of the San Francisco Bay Area under mandatory water rationing...
Water for outdoor pools and ponds is restricted...
Last time we had full rationing... Pool Owners had to truck-in water to fill swimming pools at great expense.
Realtors were often caught in the middle of the Water Crisis...
In some ways it could be worse... the water utility reserved the right to restrict or stop water service for customers unwilling to comply in addition to steep fees and penalties...
That may be so, but water in a pool is not a necessity to live. Oil for heating is.
So did sellers get a credit for the water they paid for or were there big fights over it.
There are many substitutes for oil heating... electric, wood, etc..
Yes, there was a problem...
The buyer's offer to purchase included a repair to the pool lights which the owner agreed to do.
The water from the pool was drained and new lights installed just prior to closing and the seller had already relocated out of state.
The Buyers closed and had the utilities transferred into their name... they filled the pool and 45 days later they received a water bill of nearly $800... much of which was due to very high penalties for excessive water use above the lifeline allotment...
It was a big problem and in the end the buyer's were not able to recover any part of the water charge from the Realtor or Seller...
There are many substitutes for oil heating... electric, wood, etc..
Electric or wood to use how? My house has propane heating. Propane and that's it. Our fireplaces are gas...from the propane. There is no other heating source. If I were to move, I would ask for a credit from the buyer for whatever propane is in the tank. There are not options for all situations unless someone wants to do some major renovating. The oil is a necessity to live.
I'll be very interested to hear what your attorney and your agent have to say. Did the seller provide you with a home warranty?? I'm sorry that you are having to deal with this. It's not a fun way to start out in your new home.
Electric or wood to use how? My house has propane heating. Propane and that's it. Our fireplaces are gas...from the propane. There is no other heating source. If I were to move, I would ask for a credit from the buyer for whatever propane is in the tank. There are not options for all situations unless someone wants to do some major renovating. The oil is a necessity to live.
I'm confused... in one post you said oil is a necessity and in the above post you noted your home has propane...
In either case, electric Baseboard Heating is always an option... starting around $80... per room.
I have no problem with anyone negotiating propane or oil as part of the purchase process... I've bought homes with appliances, portable spa, mechanics tools and even a small farm tractor...
The question is... when is a deal a deal?
In my opinion, it is unreasonable for the Seller to even ask the Buyer to pay for the oil 5 weeks after closing and outside of the purchase agreement...
If the Buyers are not obligated... what the Seller is really looking for is a gift.
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