Sometimes, the fact that lenders can be sticklers for property condition makes people crazy.
To explain why we are the way we are, here’s an excerpt from an actual email received in our office today, on a property that we required the sellers to turn the water on before closing.
We sent the appraiser out to verify the water was on. And boy was it.
“[Appraiser] went out there this morning and the water was on however there are numerous leaks throughout the home that need to be corrected. He turned on the water in the basement bathroom and there was a gush of water that came running out from underneath the sink and the water heater has a bucket full of water. I’ll send over the final inspection but it is NOT cleared. All of those plumbing leaks need to be corrected.
I know that is definitely not what you wanted to hear but that’s the scoop.”
So yes, the water must be turned on, and it does not matter if the property is being sold as-is, unless you are paying cash. If you are borrowing the money, there are rules.
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