The standard Purchase and Sale form mentions that all fuel in storage shall be prorated at the time of closing, which includes cord wood, wood pellets, oil, propane, or whatever material is used for fuel. Sometimes its put into the contract that the remaining fuel is left for the buyer as a convenience and has no value (especially if there isnt much.) Sometimes the buyer cuts a check for the value of the fuel and pays the seller directly at the closing. Or sometimes the buyer will have to contact the vendor and pay them for the fuel - which often is the case w/ propane, where theyll top off the tank and the buyer will pay for a full tank and the vendor will send the balance to the seller. Bottom line: everythings negotiable!
Posted on: Tue, 15 Oct 2013 23:43:35 +0000
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