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Updated over 10 years ago,

User Stats

151
Posts
52
Votes
Katharine Chartrand
  • Real Estate Investor
  • Los Alamos, NM
52
Votes |
151
Posts

water bills during foreclosure

Katharine Chartrand
  • Real Estate Investor
  • Los Alamos, NM
Posted

When you buy an "owner occupied" property from Bank of America, the purchase agreement has a special addendum to cover circumstances that arise when the foreclosed-upon owner remains in the home after the foreclosure. 

Specifically, these agreements make the buyer responsible for the utility bills incurred while the house is illegally occupied.

In my experience, most of these "owner occupied" houses aren't actually occupied.  The bank uses this clause to make the buyer responsible for utility bills that pre-dated the foreclosure. 

This week I got hit, again, by bank america for a water bill that pre-dated the foreclosure. It was the third time and I got fed up and walked away from the deal.  I feel like they are mis-using the clause to make me take care of expenses they were required to pay when they foreclosed.

Am I dreaming?

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