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Updated over 6 years ago on . Most recent reply

User Stats

284
Posts
137
Votes
Pat Jackson
  • Rental Property Investor
  • Reno, NV
137
Votes |
284
Posts

REO Inspection Period, Who Turns on Utilities?

Pat Jackson
  • Rental Property Investor
  • Reno, NV
Posted

I have a 4 plex under contract. It is a REO. It's not a perfect gem, however it's not a total dump either. I'm wanting the utilities turned on for my inspection. The listing agent for the bank is really pushing back, saying I need to contact the utility companies and have them turned on. I like to think this is his job. From conversations I've had with utility companies, if you don't own the property, they're not going to honor your request to turn them on.

Who's right, me the buyer, or the listing agent/bank?  I think it's one thing to say, "sorry, no utilities", but it's another to have me figure it out (and I'm pretty sure I can't).

  • Pat Jackson
  • Most Popular Reply

    User Stats

    284
    Posts
    137
    Votes
    Pat Jackson
    • Rental Property Investor
    • Reno, NV
    137
    Votes |
    284
    Posts
    Pat Jackson
    • Rental Property Investor
    • Reno, NV
    Replied

    @Christopher Phillips, thanks for the responses.  This property has been vacant two years.  It was likely not winterized properly, and I expect much of the plumbing to be bad.  Not sure about sewer, I suppose I can have that scoped.

    What I want to know about is electric and gas.  Within reason, time shouldn't have damaged much there.  I realize people could have, but I can find that out during the inspection.

    I am a cash buyer (for this property).  It's been on the market a year.  I got it a lot lower than asking, right place right time.  There is no knight in shining armor for the bank.

  • Pat Jackson
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