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When should I Transfer Utilities To My Name?

By
Real Estate Agent with The Kolb Team - Sun Lakes AZ Specialists ARE# SA637843000

Sun Lakes AZ Utility CompaniesClients are frequently asking us when in the process of buying a home should they transfer utilities to their name? Their really is no magic answer, but here are some tips to consider:

  • Wait until all inspections are complete and repairs have been ageed upon in writing by both buyer and seller.
  • Wait until the appraisal is in if you are financing a home.

Why? Those are contingencies that could cause the buyer to cancel the contract and transferring utilities before both of those are satisfied may result in a second call to remove your name. Normally, the inspections are done within ten days of contract acceptance and in most cases the BINSR (Buyer Instruction Notice Seller Response) is agreed upon by both parties with 15 to 20 days from  contract acceptance. Some buyers wait until inspections are complete before ordering the appraisal,  but with today's TRID laws many are ordering the appraisal earlier. Once the inspections and appraisal are in and good to go, then you should call in to the utility companies to begin the process of transfer.

What is the best resource to find out who the Utility Companies are?

In Arizona, you have two sources. One is the SPDS (Seller Property Disclosure Statement) provided by the seller in most cases. Page five of the SPDS has a place for the seller to list the utility companies. A good listing agent will make sure the seller completes the SPDS and provides all  information necessary and relevant to the buyer.

Agent websites are another good source of community and utility information. The Kolb Team specializes in active adult communities in Sun Lakes and Chandler. The Sun Lakes AZ website provides buyers with a tab for Sun Lakes AZ Utility Companies. The Kolb Team website provides Chandler AZ utility company information.

What date should the utilities transfer?date to transfer utilities when buying a home

In Arizona, the day of closing (recording) belongs to the buyer. As a buyer, when you call, ask for the utilities to transfer as of the day of close of escrow. You can find that date on your purchase contract or ask your agent if you aren't sure. The seller will also be calling in at some point to give their final day as the day prior to closing and provide a forwarding address for their final bill. The utility companies make notes in the file so it really doesn't matter if buyer or seller call first. 

For more information on buying or selling a home in Chandler or Sun Lakes, Arizona contact The Kolb Team at 480-440-0849.

Comments (1)

Barbara Todaro
RE/MAX Executive Realty - Happily Retired - Franklin, MA
Previously Affiliated with The Todaro Team

we have those meter readings ordered one week before closing and the reading done on the day of closing Becky Kolb ...good reminder for all agents to handle this...

Apr 08, 2016 12:43 AM