water & sewer assessments balances , do they get paid in full by the seller at closing

Asked by Waynekeith, 08203 Wed Feb 11, 2009

should i have that stated in my purchase contract, ? as an addendum saying " seller must provide proof that all city assessments owned to the city of Cape Coral FL for city water & city sewer are paid in full by the seller & no outstanding balance is owed "

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Terri Piggott, Agent, Cape Coral, FL
Wed Feb 11, 2009
Hi Waynekeith
It has been my experience that previously most of the foreclosure sellers prefer not to pay the balances. I have noticed recently that a few are agreeing to them, but as Steve mentioned, be very cautious regarding hook up, impact fees as well as septic abandonment charges. Even with the assessments, the homes in Cape Coral are still an amazing investment at this time.
Happy to answer any other questions you may have
Terri Piggott
Re/Max Realty Team
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Steve Koffm…, Agent, Cape Coral, FL
Wed Feb 11, 2009
Dear Waynekeith,

When buying a home everything is negotiable inclulding any unpaid balances for city water, sewer and dual water. If the property has outstanding balances that the previous owner has already added to their tax bill, you can negotiate for the Seller to pay them off, you can assume the balance or you can pay them at closing. Most Buyers assume them and pass them onto the next Buyer when the property is sold again. Please watch out for unpaid hook up and impact fees in areas where the utilities were recently added. If you go the the Cape Coral web site at http://www.capecoral.org you can check for assessments. Sometimes you may need to fax in a form if the information is not available online. If you have further questions please feel free to call or email. Have a great evening!!

Steve Koffman
Century 21 Sunbelt Realty
http://www.Koffman.com & http://www.CapeCoralFineHomes.com
#1 Century 21 team in Florida 2003-2008
#3 Century 21 team in US 2008
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Jay LaGace, Agent, Cape Coral, FL
Wed Feb 11, 2009
Depends, usually it is a negotiable item, except most Banks will only bring them current when buying a foreclosure. You can always add what you want to a contract, but they still have to agree.

Let me know if I can help.

Jay LaGace
LaGace & Whitt Partners
#1 Team - 2008
Century 21 Birchwood Realty Inc.
4040 Del Prado Blvd.
Cape Coral, FL 33904
Web Reference:  http://www.capecoralc21.com
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