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IF YOU ARE SELLING, DON’T FORGET THE FINAL WATER METER READING

IF YOU ARE SELLING, DON’T FORGET THE FINAL WATER METER READING

If you are selling a home (including condominiums, if each unit has its own meter)and you have municipal water (as opposed to well or private water) you will have to obtain a final water reading  for closing. Sellers should not wait until the last minute to arrange the reading-if you don’t have the reading at closing money will have to be held in escrow until the reading is obtained.

Please note that it could take weeks to obtain a final water reading in New York City, so if you are selling within the five boroughs it is especially important to leave sufficient time to obtain the reading.

Finally, in most instances the Seller’s attorney, at closing, will pay the final water reading by writing a check from escrow. Generally, the title closer will take the check and mail it to the applicable water department (sometimes the Seller’s attorney will mail in the check). However, in the Town of Greenburgh, Sellers are supposed to obtain and pay the final water reading prior to closing. A paid receipt is then presented to the title company at closing.

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