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Updated almost 9 years ago on . Most recent reply

User Stats

67
Posts
29
Votes
Sheltocks M.
  • Real Estate Investor
  • Central New Jersey
29
Votes |
67
Posts

Should I pay the water bill to close this deal?

Sheltocks M.
  • Real Estate Investor
  • Central New Jersey
Posted

Hi BP Family:

I'm in contract for a house in Trenton NJ. The title search shows that the water bill is outstanding for 2K and the water to the property has been turned off by the city of Trenton. The appraiser has a condition on the mortgage approval that the water be turned on. Apparently the seller "doesn't have the money" to have the water turned on. 

Should I pay the water bill so we can close the deal and have an addendum added to the contract that i be repaid at closing? The property meets the 2% rule and the other numbers look good. Looking for some insight. Has anyone had such a scenario? Any advise?

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