Skip to content
×
Pro Members Get Full Access
Succeed in real estate investing with proven toolkits that have helped thousands of aspiring and existing investors achieve financial freedom.
$0 TODAY
$32.50/month, billed annually after your 7-day trial.
Cancel anytime
Find the right properties and ace your analysis
Market Finder with key investor metrics for all US markets, plus a list of recommended markets.
Deal Finder with investor-focused filters and notifications for new properties
Unlimited access to 9+ rental analysis calculators and rent estimator tools
Off-market deal finding software from Invelo ($638 value)
Supercharge your network
Pro profile badge
Pro exclusive community forums and threads
Build your landlord command center
All-in-one property management software from RentRedi ($240 value)
Portfolio monitoring and accounting from Stessa
Lawyer-approved lease agreement packages for all 50-states ($4,950 value) *annual subscribers only
Shortcut the learning curve
Live Q&A sessions with experts
Webinar replay archive
50% off investing courses ($290 value)
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Real Estate Deal Analysis & Advice
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

User Stats

103
Posts
29
Votes
Travis Moe
  • Rental Property Investor
  • La Quinta, CA
29
Votes |
103
Posts

Inspection Ends 11/26 - Need Help/Advice in FL

Travis Moe
  • Rental Property Investor
  • La Quinta, CA
Posted Nov 20 2018, 23:34

BP Community - 

I'm in contract on a SFR in Jacksonville, FL. I'm a little stuck and need advice on best course of action.

Situation: The water and power are shut off at the property (it's an REO held by a private lender). This was not disclosed to me at any point. I discovered this when my GC went out to look it over and give me a rehab bid. The seller claims no knowledge of property and sent a disclosure to this fact since seller has never occupied the home.

The listing agent, on the other hand, was completely aware. 

When I requested the listing agent get the utilities connected so that I could conduct full inspections, he declined. He said power could not be restored to the property because there is exposed wiring making power a safety hazard. He stated this. So he knew ahead of time, but did not disclose this. 

I then asked that my inspection period deadline (11/26) be extended so that I'd have additional time to have an electrician quote me a price to repair something like that. The listing agent flatly declined.

In Cali, where I live, a listing agent is also required to disclose any knowledge about a property they represent - not just the seller. Is this the case in FL? In Cali, a seller's agent is responsible, at their own expense if necessary, to supply utilities to a property under contract for due diligence. Is this not the case in FL? Are there exemptions? Or is this listing agent just being a hardcase?

What should I do? My rehab bid came in just enough under my max threshold to allow for a 10% overage/margin of error. Systems repair like power and water can run into the thousands and I wouldn't know about them because I can't have inspection. I don't want to pay to repair the systems just to turn them on just to find degradation that kills the deal. 

How can I make this work?

Loading replies...