Updated over 8 years ago on . Most recent reply
Oil Furnace and ARV in Seattle
Has anyone had experience flipping a house with an oil furnace in in the Seattle area? I'm looking at an opportunity and while the comps suggest a decent flip scenario, all of them are natural gas while the subject property has oil as the energy source. I'm curious if the buyer pool is typically reduced in this scenario as oil energy seems to have a stigma attached and as such, if the ARV would need to adjust down as compared to the comps to reflect that.
Any thoughts around oil energy and furnaces would be greatly appreciated!
Cheers,
Sean
Most Popular Reply
In Seattle, there are certainly buyers who are turned off by oil furnaces. I always point people to the PSE website for comparing heating costs:
https://pse.com/savingsandenergycenter/tips-tools-...
There's always the danger of the oil tank leaking into the surrounding soil. That can become expensive to remedy. If the oil tannk is above ground, it will be much, much easier and cheaper to remove.