Buyers asked for an extension for SFH#1
May 7th, 2006 by KenricThe buyers asked for an extension until Tuesday. Something about a letter from their CPA had wrong dates made the underwriter kick back their application. If the house doesn’t close by Tuesday I’m going to ask for some financial compensation.
One lesson learned, I called and got my gas, electric and cable transferred over to my new house and in anticipation of closing I had the utilities shut off on May 4th. Well now it’s May 7th and my house has no power. Normally this would be fine but I have a pool so the my pool has gone 3 days without the filter running. I went over to make sure that the water is still blue and not green. I also added some chlorine and stirred the water a little. My water timer for my plants was also not running so I had to manually turn that on to give the plants some water. What I did should be good enough for a few days but if this sale drags on any longer I’ll have to turn the power back on again. Of course, any of those costs I will pass to the buyer. Next time, I’m not shutting anything off until after it has closed. Yes, this means the buyers can potential live a day or two on your utilities but its a small price to pay.
Posted in Real Estate | 3 Comments »
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Interesting. In my experience, the utilities will take the account out of your name, but the power actually stays turned on for a while – a couple days, at least. My first property had the power on for a month without anyone paying before they finally cut it off. I think it’s probably cheaper to leave it on without anyone paying than it is to send someone out to the property to turn it off. Oh well. As you said, pass on the costs to the buyer!
By Shaun on May 8, 2006
Looks like the sale will close today or tomorrow. My realtor asked the buyers to turn on power in their name today also.
By monarchcrest on May 8, 2006
i just closed on my house in boise.
after the 17 days due diligence i had escrow send me a check for their 2k earnest money.
i used that to pay the mortgage!
always have the e.m. go hard after 14-21 days.
By Empty Spaces Inc. on May 9, 2006