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Purchasing a foreclosure in Macomb County and the utilities are disconnected?

April 10th, 2011 · No Comments · tips for home buyers, tips for purchasing a foreclosure

More often than not, when a home is bank owned the utilities to the home have been turned off.   I would venture to guess that in the Macomb County MI area 75% of the foreclosed homes are without electricity, gas or water.

Pre-planning when writing your offer to purchase the home and estimating closing and inspection time-frames is essential to not have to scramble later for extensions.  (Most banks – asset managers do not like to give extensions on the closing dates.  In fact, many have penalties imposed upon the buyers for going beyond the date on the contract.)

Plan your home inspection period for a minimum of 10 days if possible. This will give you extra time to order the turn on of the utilities into your name.  Here in Macomb County electric service can be turned back on within 2-3 business days and the gas companies are right around the same time frames.

**One local gas company is requiring that you prove that you
are purchasing the home in order to turn the service back on.
Ask for a  supervisor if this happens to you and they in turn will
give you their name and fax number to speed this process up.**

Most cities and townships water departments can also do things within 2-3 business days, although they may require you or someone you  designate to be on site when they do this in order to check for leaks.

Once the utilities are back on you can then have a full home inspection to discover the “as is” condition of the bank owned home you wish to purchase.  If you are purchasing the home using a FHA or VA mortgage you will want to leave the utilities on for the appraiser to properly do his/her job.

Kris Wales – A partner for your real estate needs in Macomb County MI
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Important copyright information: All photos were taken by Kris Wales. Do not copy and use photos for your own use, whether it be for personal or commercial purpose. All articles were written by Kris Wales. Once again, do not copy and use for your own purposes. Important disclaimer: Views expressed on the blog by the author and commenters do not express the views of Keller Williams Realty. All information contained is deemed to be reliable at the time of posting but not guaranteed.