Question on Asking Seller for Utility Bills
Hi All,
I'm currently looking at a 5 family (with potential for a 6th on the top floor) and two commercial storefronts (1 restaurant and 1 clothing store) in my town. I'll come back with the numbers later. What I'm looking to find out it is - would it be acceptable to ask the sellers agent to produce the last years worth of gas and electric bills? If not, what is a better way to validate these #'s.
Right now the building is partially sub-metered and she is not charging the tenants for any utilities (Gas, water, or electric). I don't think I can sub-meter the water and will have to live with that. The Gas and Electric is my principal concern. I will sub-meter the electric for sure. The problem with the gas is that the entire building is run off of 1 furnace so that may not fly. If I can recover the electric cost then there is tons of value here (electric is expensive in my area).
Thanks in advance for any advice or past experiences.
Most Popular Reply
@Frank Gucciardo - Yes - she should provide you with proof of expenses. Make sure that you confirm (and re-confirm) with the electric company that they units can be sub-metered. Also - how much will it cost?
She pays the commercial utilities too? They probably have long-term leases.....