Looking to do my first short sale deal

1 Reply

I am looking to possibly do my first short sale deal, but I am not sure what to expect interns or cost. Who is responsible for turning on utilities for the inspection? My agent has been reaching out to the seller but has not heard anything. It looks to be a great BRRRR opportunity and would hate to miss out. Any help would be great.

Thanks

Originally posted by @Craig Buchbinder :

I am looking to possibly do my first short sale deal, but I am not sure what to expect interns or cost. Who is responsible for turning on utilities for the inspection? My agent has been reaching out to the seller but has not heard anything. It looks to be a great BRRRR opportunity and would hate to miss out. Any help would be great.

Thanks

 No one is responsible and while you may not get any objection from the bank or the seller, I'm pretty sure they will object to paying to have them turned on. The bank isn't going to put the utilities in their name and it would appear, neither will the seller, considering they were already turned off by the seller, either voluntarily or involuntarily.

You may have to do your due diligence without the aid of turned on utilities. That said, you can always ask. You would more than likely have to have them turned on if you are trying to obtain conventional financing. As a bank, again, I would have no objection but I sure would not have them turned on in the Bank's name.

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