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Updated about 6 years ago,

User Stats

103
Posts
29
Votes
Travis Moe
  • Rental Property Investor
  • La Quinta, CA
29
Votes |
103
Posts

Inspection Ends 11/26 - Need Help/Advice in FL

Travis Moe
  • Rental Property Investor
  • La Quinta, CA
Posted

BP Community - 

I'm in contract on a SFR in Jacksonville, FL. I'm a little stuck and need advice on best course of action.

Situation: The water and power are shut off at the property (it's an REO held by a private lender). This was not disclosed to me at any point. I discovered this when my GC went out to look it over and give me a rehab bid. The seller claims no knowledge of property and sent a disclosure to this fact since seller has never occupied the home.

The listing agent, on the other hand, was completely aware. 

When I requested the listing agent get the utilities connected so that I could conduct full inspections, he declined. He said power could not be restored to the property because there is exposed wiring making power a safety hazard. He stated this. So he knew ahead of time, but did not disclose this. 

I then asked that my inspection period deadline (11/26) be extended so that I'd have additional time to have an electrician quote me a price to repair something like that. The listing agent flatly declined.

In Cali, where I live, a listing agent is also required to disclose any knowledge about a property they represent - not just the seller. Is this the case in FL? In Cali, a seller's agent is responsible, at their own expense if necessary, to supply utilities to a property under contract for due diligence. Is this not the case in FL? Are there exemptions? Or is this listing agent just being a hardcase?

What should I do? My rehab bid came in just enough under my max threshold to allow for a 10% overage/margin of error. Systems repair like power and water can run into the thousands and I wouldn't know about them because I can't have inspection. I don't want to pay to repair the systems just to turn them on just to find degradation that kills the deal. 

How can I make this work?

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