Getting rid of oil heat - sell back old oil?

[Greebo]

So the apartments we bought have an oil furnace. When we added the 2nd water heater, we learned that we could pay $1,200 for the chimney work and $5,000 for 2 gas furnaces, and let each renter pay their own utilities, OR we could pay $6,000 for the chimney work (stainless steel, wider chimney flu, lots more labor) and continue w/ our plan to pay for heat as part of the rent since it was in common.

We took option 1 - no brainer - oil heat's expensive!

So now we have an oil tank about half full - no idea how much.

Here's the question - can we sell it to someone? I mean - legally? Will the oil co buy it back maybe? Or are there independent people who will buy it?

We don't want to leave a half full tank of oil hooked up to an old furnace that is no longer going to be used.

[leezza]

Greebo,

I don't know about the law but if it is yours located on your property I don't see why you couldn't sell it......if your normal oil company doesn't want it you may want to ask them if they know of anyone who may want to purchase it......otherwise I would only use word of mouth because if you advertise it someone may come by and steal it....

Good Luck,
leezza

[blitzen]

Greebo--try listing it on Craigslist. At our first house, we got someone to come over and pump out the remaining oil and remove the tanks for free--just for giving him the oil that was left. It was a good deal for us.

You'll definitely be able to get rid of it, especially with the prices of home heating oil these days!

[Greebo]

That's a good idea. Craigslist FTW again!

[FrugalMomof3]

I actually just saw a listing on craigslist for an oil tank with it having 100 gallons of oil, not sure of the price, I think it was $250 or $275 so heck yeah sell that baby on craigslist.