Who is responsible for Utilities during a Foreclosure Inspection?

[Andrew Grieb]

BP,

I am making an offer on an REO property and my Agent sent me and addendum stating the bank requires that the Buyer's agent be responsible for turning on the utilities during the property inspection and pay for the expense. The buyer then has to reimburse the agent for doing this. She says this is against her brokers policy and that her office will not be able to submit the offer if this is the case.

Does anyone have any guidance on this situation?

Thanks,

[Wayne Brooks]

The bank wants you to pay for turning utilities on and off, which is common. Call your local utility co. and ask them what their requirements/documentation for turning on utilities for a REO are. Maybe a copy of the contract, maybe nothing. I wouldn't care if it were me, or the brokerage, turning them on, regardless of the bank's language.