Novi home selling tips – water escrow
Novi home selling tips – water escrow You just got your HUD settlement statement and you noticed a water escrow of $300 on the statement. What is that for? In Michigan a water bill is a lien against the house if not paid. So it is the title company’s job to make sure the water bill is paid and there are no liens against the house. ![]() So prior to closing you need to call for a final water bill. You can pay the final water bill and bring the paid receipt to closing or you can just bring the bill to closing. The title company will then pay the final water bill at closing and give you the excess from the water escrow. If you forgot to get the final water reading and bill you can submit it after the closing. The title company will pay you and send you the difference in the money. Why so much you ask? I have seen $600 and $1000water bills. So a $300 or $200 water escrow is customary. So when selling your Novi home get your final water bill before closing and it will make your life a lot simpler. Novi demographics – Novi real estate Northville real estate – Northville information Farmington Hills demographics – Farmington Hills real estate Search Novi foreclosure and home listings [wnt_grid keyid=”1″ title=”Homes for sale in Novi MI” maptype=”disabled” ownertype=”all” paginated=”true” sortoptions=”true” maxresults=”50″ search_mode=”form” primarysearchtype=”active” searchtype=”city” state=”MI” single_family=”y” condo=”y” min_price=”200000″ max_price=”400000″ listing_status=”Active” county=”Oakland” city=”Novi,Novi Township” /]
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