Updated almost 9 years ago on . Most recent reply
Has anyone negotiated to get utilities turned on for an REO?
Hi all,
I'm looking at a potential first property for a house hack. It's a Fannie Mae property, 3 family. Needs very little work but the gas has been disconnected and meters removed, and there's some minor plumbing required for the forced water heat in the basement. It's a perfect first property for me but there's no way I'd be able to get a mortgage without utilities functioning.
Anyone ever managed to work around this?
Most Popular Reply
Nick Montville you might be able to submit a offer for more with the extra to go to fixing the issues or you can try for a repair escrow some banks are willing to if they give you the repair escrow for repairs as they know the money is there to fix the issues but something you would want to talk to your bank and your agent about.