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Old 02-22-2010, 06:25 PM
George A Easton's Avatar
George A Easton George A Easton is offline
 
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Default Cost of Installing Electric Meter

Just did a vacant bankrupt builder home where the electric meter was not installed. Since it's after 5pm I can't call the power company, but who pays for the installation of these things? Logically, it would be the electric company because they can't make any money unless the home has power. Perhaps it varies by municipality, company, etc. but I'm figuring it's not the homeowner's responsibility. Trying to put together my REO addendum with costs to cure and wanted to see if this should be a line item or if appropriate verbiage would suffice. Thoughts?
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Old 02-22-2010, 06:51 PM
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Terrel L. Shields Terrel L. Shields is online now
 
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A meter pole is a few hundred bucks. The electric company charged me about $1000 deposit to bring electric to my farm. Refunded after 1 year. The meter itself belongs to the power company.
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Old 02-22-2010, 06:53 PM
LI-Appr LI-Appr is offline
 
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There is none. The electric company pulled it for non payment.
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Old 02-22-2010, 07:05 PM
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A meter is provided as part of the electrical service at no charge. One will have to be installed by the electric company, which may require payment of past due billings, however, those also are not part of valuation of the subject but it may be wise to have your client check for any outstanding utility payments .. or suggest the title company do so. The "owner" would be responsible for payment prior to transfer.
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Old 02-22-2010, 08:04 PM
Mountain Man Mountain Man is offline
 
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Temporary power poles are $300 or so. But I move them from job site to job site, so it's a one time cost to me. Permanent power meter on the house is provided by the power company at no cost, or it's included in the application fee.
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Old 02-22-2010, 09:18 PM
Rich Heyn Rich Heyn is offline
 
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Quote:
Originally Posted by George A Easton View Post
Just did a vacant bankrupt builder home where the electric meter was not installed. Since it's after 5pm I can't call the power company, but who pays for the installation of these things? Logically, it would be the electric company because they can't make any money unless the home has power. Perhaps it varies by municipality, company, etc. but I'm figuring it's not the homeowner's responsibility. Trying to put together my REO addendum with costs to cure and wanted to see if this should be a line item or if appropriate verbiage would suffice. Thoughts?
Is the meter base, the housing into which the meter is installed, in place and just the meter itself missing? In other words, the service panel is installed and all the wiring in place but the meter is just MIA?
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Old 02-23-2010, 09:12 AM
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Assuming the home is complete or nearly complete and the elec service was turned on at one time:

In this area, the Elec. Co. establishes an account with the customer and if he doesn't pay, they pull the meter after a couple of months. The past due balance does not carry forward to the next customer or stay with the house.

However, someone will have to establish an account with the Elec. Co. and possibly pay a deposit for the service to have a new meter installed.

You can make your report "subject to" the owner or client providing utilities and re-inspect or make it "as-is" with the proper CYA verbiage. Ask the client which they prefer.

If the home is incomplete and no meter has been installed at anytime in the past, this is a different and more complicated issue, depending on the construction stage.
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