Replies to This Discussion

Permalink Reply by Ann Howard on July 18, 2013 at 6:01am

Your agent should contact the Listing Agent and that agent needs to get a hold of the negotiator. The listing agent may not know the circumstances and assume you can turn the utilities on.

 

Permalink Reply by joe beauchamp on July 18, 2013 at 6:02am

I have not done this, just a suggestion, pay the bill to get the water on. Get the HUD-1 changed to pay you the $105 instead of the water co, or better but unlikely, get the water co to agree to pay you back after closing and they have been paid by the bank. A big problem is that banks are the biggest scam ripoffs in society so it is very likely that they will just say it is one less think they have to pay and refuse to pay you back.

The water co may only accept payment from the bank, too. You might get away with calling it a lien on the HUD-1 so that the bank is more likely to say OK. It doesn't change the cost of closing, but that doesn't mean that some pinhead at the bank won't screw you over for it. They do this all the time. What are you going to do, pay a lawyer thousands to sue them?

You might get the $105 from one or the other agent with a promise to pay it back after closing - but you still either need to expect it as a loss or somehow get it on the HUD-1 as reimbursement for inspection or some such - something more easily done for an agent than a buyer (banks can look at that as a buyer getting money from a closing - very very very myopic - welcome to bank "thinking".)

Note - banks hate short sales because they get paid for every file that sits with them every month. Every (short) sale means less income the next month. And you'd think that the investors would be wise to this and put someone else in charge of short sales incented to move them, but they aren't  - biggest are fed bailouts spending all their time scoring more fed trough money than doing their job (after all, the taxpayer gets hit just like for every other political thing that happens). So, be prepared to lose the $105, too.

Permalink Reply by Melissa Schneider on July 18, 2013 at 6:05am

I would pay the $105 and not care .. but they wont let me .. they said BofA has to turn the water on, and pay.

Permalink Reply by joe beauchamp on July 18, 2013 at 6:23am

That is a very long shot - BofA pays nothin' for nobody. They say "AS-IS". I've seen them refuse repairs even though seller insurance would pay for it - free to them. You want them to pay money to get a short sale done so they can lose money the next month? HA!

Maybe you can pay a neighbor $10 to hook up a hose from their house to this one for your inspection. Seems like you have the typical pinheads at the water co, too. You can tell them that they get paid after closing or they can let this go to foreclosure and never get paid - and not have a customer until years later when the bank finally sells it. But, the grunt you are talking to on the phone doesn't care - he has a job, he's happy. Too bad the DMV isn't hiring?  ;-)

Maybe you can get a supervisor at the water co to care or a town politician to pressure them? No sale, no taxpayer, worse property values - someone should care..

Permalink Reply by Jeff Payne on July 18, 2013 at 7:08am

Why would BofA turn the water on? Do they own the home?  I would think at the very least the water department would want the homeowner to give permission to have water turned on.  What happens if a tenant were to want to turn water on?

Permalink Reply by Melissa Schneider on July 18, 2013 at 7:12am

BofA is the water account holder ... Sellers havent lived there in almost two years!

Permalink Reply by Jeff Payne on July 18, 2013 at 7:42am

So the water department went against their own policy and let someone other than the owner turn the water on?   Since BofA has it in their name, simple, they have to pay the bill.

Permalink Reply by joe beauchamp on July 18, 2013 at 7:41am

I have a neighbor who evicted her tenant - also not taking any more, just turning it into a bigger house, yet the electric co refuses to stop billing the now gone tenant. I'm pretty sure that utility people are a cross between DMV and bank "specialists". Sometimes, you get someone who uses his brain and is nice, too. Other times, you can find a wall with a higher I.Q. and humanity.

It seems strange that you can get utilities to turn things back on when you can show that you have a new tenant, that the old was evicted, etc., so there is some logic used in those departments. And you do bring up a good point, what right does BofA have to have the water account for the homeowner? I don't believe that is legal. They don't own it. The water co says someone else can't turn it on but BofA can steal the account? Hmmm..

Permalink Reply by ElizabethWeintraub00697006LyonRE on July 19, 2013 at 3:12am

Hey Joe: Ya gotta love bureaucracy. What this person probably needs is the account number, then it could be paid in Bank of America's name. I doubt the water company needs the check to originate at B of A, what it probably needs is B of A's account number on that check.

Permalink Reply by Dean E Eshelman, CPA, CDPE, IRES on July 20, 2013 at 6:15pm

I have the buyer turn on the water in there name for the inspections and then turn it off after. Never had a problem even when past due amounts on the previous owner. Of course I am in Missouri where common sense usually prevails.

Permalink Reply by Magda Robles,CRS, CDPE, SFR on July 21, 2013 at 1:50pm

Hello,

The listing agent is representing the Seller - not the Lender.  Its Seller who is responsible for bills and services.  Unless this is an REO - in that case, BOA has an agreement with REO Agents to place utilities in lsiting agents name.  That's the least of the problems,  Wouldn't a buyer invest the funds to make sure they buy the correct investment? 

Im sure Listing agents can handle that minor issue.   Wishing you the best.