Who is the Releasor at a Foreclosure Inspection?
Bump
What is a “forclosure inspection”?
The “releasor” is either the owner, their employee, their real estate agent, or the sellers agent with permission. It is whoever wants to accept liability for turning on the utilities on behalf of the owner.
Does a RE Agent have that power?
The Banks own them.
The agent is representing the bank, so yes. But even so, who cares? If they sign it, they are taking responsibility.
Glad to have that. Been having to turn on a wholelotta stuff the past few months with all of the foreclosures in this area.
I only read the first paragraph and see a problem.
It only includes utilities you turn on inside the house.
If you turn on the water or a breaker at the exterior it can be read as “does not apply”.
Its also too long and the RE agent will not even read it, they will also sign under “duress” which invalidates it also.
If you get sued by the owner for $5k due to damage, you will have to pay it and then sue the signer of that doc to get your money back.
Then don’t do it. The idea is that someone has had the utilities turned on, yet the valves and breakers inside are off. They might as well not been turned on in the first place if they aren’t on inside. So the idea is that we have permission to turn them on inside, and the utility company does the outside.
By the way, copy and paste this into your word processor and make any appropriate changes. I did this and re-formatted it into a single page document for my usage.
Some breakers are on the exterior, the garage is considered the exterior by some people and a lawyer can call it anything he wants if its “not inside the home”
Some valves are in the crawlspace, that can be construed as the exterior also.