how do i find out the average utility bills over 6mo/yr on a property i am considering purchasing?

Answer 1

you tell your real estate agent to get it for you.

Answer 2

Call the utility company in your area for Electric, Water and Gas - ask them for a print out (or ask the realitor that has the listing, for the information).



http://www.memphischamber.com/content/static/MovingToMemphis/Utilities/Rates/default.asp

The above link will take you to a AVERAGE MONTHLY RESIDENTIAL UTILITY BILLS Rates in effect January 1, 2003.

Other things to consider if you are looking to Purchase:

When you Decide to buy, decide on how much you want to spend, if you want to escrow the taxes and insurance. Say the taxes are 1200 a YR and insurance 800 a year (just an estimate, ok) That is 2,000 a year divided by 12 = 166.66 If you paid 1,000 a month now - (166.66) your P/I Principle and Interest would be 833.34. Now you decided on the price range you are looking into. If you have great credit, a 1 loan at 130,000 at a rate of 7 percent over a 30 year time would be 864.89 - This is just a estimate - ok -

It greatly depends if you need help with closing cost, (The seller could do Seller Help toward your closing cost). If that is the case, I normally tell my clients NOT to hackle over the price, since you are asking for closing cost help - especially if the home is thru a realitor, and the seller has to pay the realitor their fee which runs from 3-6 percent of the selling price, and you ask for 3-5 percent toward closing cost -assistance) Follow me so far??

Talk with a broker, a broker underwrites for many company's (I underwrite for 150 companies) so I only have to pull credit 1 time, and they look at my credit. A single lender (not a broker) has programs available, but they may not be able to help you and your situation, so you go elsewhere, and than that person pulls your credit (see what I mean.) If you shop, your credit is pulled and that is considered a soft pull, for a 30 day period. Just like shopping for a auto, it is good for 30 days. If you apply for a credit card, that is considered a "hard" pull and it drags down your credit score. When looking for a home, please do not apply for a credit card, Department Charge Card, Gasoline Card or make any major purchases, like a auto, etc. This will pull your credit down.


Try to find someone (broker) that will pull your credit one time, and submit your loan application to company's that will go off his credit report. By the way, a loan application is called a 1003, and they will issue you a GFE (Good Faith estimate, with-in 3 days, that is per the RESPA laws, and the TIL (Truth in Lending). The GFE will tell you the up-front closing cost associated with your loan. The TIL will tell you the terms, rate associated with your loan. This is a estimate only - not the final - but it does help you figure things out.

Decided on the type of program (loan ) you are wanting. A 30 yr fix is still roughly at a 6.5 rate right now - but if you are needing a 90 percent ltv the rate is around 7 percent and a 95 ltv is 7.375 and a 100 percent rate is 7.5 ( This is a estimate only, since I do not know what your credit score's are....There are also, interest only loans - adjustable loans, option arms (where you pick the payment, from 4 payments, including interest only). Interest only are lower payments, but nothing is being paid on your home. Some self-employed ppl like the payment options, in a lean month when money is tight., they can pay a lesser amount.

http://www.fanniemaefoundation.org/...
http://www.fha-home-loans.com/

http://www.freddiemac.com/

Answer 3

First, when you write the offer, (hopefully you are using the services of a professional realtor or an attorney), make sure you have at least 10 days set as an inspection period. This is so you can inspect every aspect of owning this property before committing to the closing and can use those days to ask for the documentation you need. Also, if your State doesn't have an inspection clause in its contracts, write in under "other terms and conditions" that you wish the seller to provide copies of, and will need to approve of, 6 months worth of utility bills or a print out from the utility companies with the information broken down. If in an area with varying weather, you may want to get 12 months and average them out.

Answer 4

ask current owners to submit info before you submit offer. The utility company in your area may,depending on their privacy policies,also provide the last year's info

Answer 5

You need to talk to the energy company for that area. They would be able to tell you the average monthly service usage for that address.

Answer 6

ask the owners or call the agent or call the utility co.

Answer 7

either the owner or the agent should be willing and able to give you this info