When you say the seller "promised" to have the power restored, did they do so verbally or did they put that in the contract? If it ain't written, it didn't happen. And the bank's addenda will supersede the language of the promulgated contract form, so if you don't have an agent working for you I would suggest you seek legal counsel so they can decipher if the seller has breached the contract or if you have. No one here has read the bank addendum to the contract so most of the responses will simply be guesses and of little value to you at this point.
Don't you have an agent representing you that can run interference on these issues? If the seller has not enabled you to complete an appraisal, and you had the typical, current, TREC or TAR contract, and the contract made the purchase contingent upon third party financing, then your lender will be unable to have the home meet underwriting guidelines, of which an appraisal is a key requirement. Thus, without meeting the underwriting guidelines of the lender, it seems you may be able to terminate the contract for this cause.
If you don't have an agent representing you, give me a call and I can help out.
I hope you got it worked out and were able to close today or at least get an extension. I do have a question that might help. In Texas TREC Promulagated forms require strict proformance in regard to have the utilities on, unless the Bank had you sign something that states you were required to complete this task like a REO addendum can sometimes. (For FHA or HUD deals is does)
So my question is what was the contract you executed a TAR form? Where is your agent in all this? Getting a permit pulled from the city is online and takes 48 hours. I have completed this myself. Part of what you might need is a GC or General Contractor who can assist in the correct process for getting power to a property appears to have some issues. Again where is your agent in all this. That is who should have to answer for this.
I do offer a FREE Home Buyers Guide that would have definitely helped you out. Check out an example of one of the sections.
Home Buying Mistake #16 : Not Understanding the Legal Consequences of Your Actions and Contracts
Your home is likely one of the largest, if not the largest financial commitment, you'll ever make. Yet few buyers (and even few agents) understand the true legal consequences of the sales agreements or purchase contracts.
Just as important as the language in the contract (in most states the contract has been standardized) are the legal options available to you for amendments and additions that are NOT always on the standard contract.
There is alot more.
If you would like to sign up for the Ultimate Home Buyers Course and learn how to avoid costly mistakes simply click the link below.
GOOD LUCK, I hope everything works out for you!