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The Anatomy of the Deal: Part 4

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22K: Utilities Addendum

The utilities addendum does exactly what it says: identify utilities. This is important for a couple of reasons. A potential buyer would be interested in knowing who they’re going to be working for water/sewer etc. Mostly, this form is important for the title company. They will call on the utility companies and make sure any unpaid balances are paid in full. This way, buyer doesn’t have any surprises upon moving in!

Unfortunately, this form does not cover everything. One of the most common questions I get when showing buyers around is, “What kind of internet do they have?” This form does not address this ever increasing important aspect of our daily lives. Your realtor should know who generally serves the area or they can ask the listing agent. It’s up to you to verify!

I once purchased a home that was connected to a large internet company. (I am sure you’ll be able to figure this out after I tell you the rest of the story.) What I was told upon purchasing, is that while the company does service that address, they are not creating new accounts because they did not have the bandwidth to handle it. I finally got it, but I had to track down the seller in a another state and get him on the phone with me and the company at the same time for him to transfer the service to me and me to accept it. Always verify!

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