Measure That Oil. Michael Ackerman talks Seattle Real Estate.
Michael Ackerman, a Seattle Realtor with Coldwell Banker Bain, blogs about an important last step when closing on a home. If oil is the primary heat source for the home in the transaction, the buyer must reimburse the seller at closing for the remaining oil in the oil tank. Traditionally, the oil company that services the home will measure the remaining oil a day or two before closing and that total will be forwarded to the escrow company so it can be charged to the buyer as a closing cost. The seller is paid for the oil as a part of their proceeds at closing. If you have any questions or comments, please send your email to [email protected] or visit www.mackerman.com.