I'm in the process of purchasing a duplex and escrow is to close next week. I was in the process of switching the utilities into my name, when I find out that there is only a single water meter, although the duplex was listed as having separate meters for all utilities. We had the property inspected, but this was not revealed at that time, and contingencies have since been removed. Do I have any options?
Hi Elutris-
Erica Pittman-Gaynor with Keller Williams Santa Cruz here. This kind of thing is exactly why you want a trusted Realtor working with you on any transaction. If you have one, your agent should be able to guide you through the process. You DO have options. If you don't have an agent working with you, I would be happy to answer your questions and give you some local advise and guidance. Remember, it costs a buyer nothing to work with an agent. Every transaction is different and there are many variables as to which action to take. Please don't hesitate to call or email me if I can help you further.
Have a great weekend.
Erica
(831)818-4123
erica@ericapittman.com
Elutris -
I agree with Bill that reviewing the contract, the inspection, and the listing details with your agent so that he/she can present to the sellers agent and begin working toward a solution. I would also have an estimate for installing a second box to help determine what is on the table for negotiation. Based on the facts given, you should be able to have this issue resolved. It may have been an oversight on your part, but it was a known item on the seller's part. With contingencies removed, you may need the help of an attorney if the seller is unwilling to compromise.
Good luck,
CJ
Elitris,
Begin by having a conversation with your agent pointing out your documentation of dual meters for the property and make him aware you expect this to be in place at the time of closing.
In an effort to be ready for whatever is going to come in your direction, we would suggest getting an estimate for having a second meter installed. This way if a credit is to be issued at closing, you will have access to your number.
Having an attorney review this information and provide a recommendation would be advisable.
Good luck
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