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Updated about 11 years ago on . Most recent reply
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No water activation
I see more and more of this in listings:
"BANK OWNED PROPERTY SOLD AS IS WITHOUT REPAIR OR WARRANTY. LISTING AGENT HAS NO KNOWLEDGE OF PROPERTY HISTORY, NO DISCLOSURES OR ASSOCIATION DOCS SUPPLIED. BUYER/BUYER'S AGENT IS RESPONSIBLE FOR VERIFYING HOA FEES, IF ANY, COMMUNITY RULES, SQ FT, LOT SIZE, ROOM DIMENSIONS AND TAXES. AT CLOSING, IT IS SUBJECT TO A WEB TECH FEE AND MAY ALSO BE SUBJECT TO A BUYER'S PREMIUM. SELLER WILL NOT ALLOW WATER TO BE ACTIVATED FOR ANY REASON."
What does "WATER TO BE ACTIVATED" mean?
Does it mean turning on water service? As in the main valve that feeds the water to the rest of the house?
If I convince a neighbor to let me use his hosebib, and I drag a garden hose across to a hosebib of the subject house, and hook it up...turn on the neighbor's hosebib, and thus filled the supply system of the subject house with water pressure, is that considered "ACTIVATING"?
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Sam it means the bank doesn't want water turned on to the property for any reason if you do it. Sometimes they will allow if you have the water person re-winterize.
If they will not let you test the water then I would count on reducing my offer to include the worst case scenario of replacing the entire water system. This way you come out ahead if it works but do not overpay if it doesn't work and you didn't know that because you couldn't test it.
No legal advice.
- Joel Owens
- Podcast Guest on Show #47
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