A HOME buyer has been left in shock after he called his local utilities to turn on the water in his new property and was smacked with an eyewatering $71,000 bill.
Charles Holmes bought a home out of foreclosure in DeKalb County, outside Atlanta, Georgia, but can’t seem to pry it from the old tenant’s grip.
Charles Holmes purchased a home out of foreclosure in Dekalb County, Georgia, and was shocked after he tried to get the water turned on[/caption]
That’s because Holmes inherited a massive $71,846 bill from the previous owner[/caption]
That’s because the massive charge is under the previous owner’s name, but Holmes still has to foot the bill.
“I had to look at it several times,” Holmes told ABC affiliate WSB-TV.
“I’m like, this can’t be real.”
Dekalb County refused to let the new owner see the breakdown of the fees because his name wasn’t on it.
They said it’s a privacy issue.
Holmes knew to budget for hiccups after buying a home in foreclosure, but he said he needed to know exactly how a bill could skyrocket to such a ridiculous price.
“You want me to pay it, but yet we can’t discuss it,” he told the station.
“It makes absolutely no sense.”
Holmes realized his new home was without water when work crews tried the faucet while they were cleaning up.
He called the county to turn it on and was told about the bill, but had no clue it would be $71,846.
It took Holmes three weeks of calling the county before he was finally able to open an account under his name.
A DeKalb County spokesperson said, “Water service will be turned on once the county has proof of completed repairs and there are no leaks,” WSB reports.
Now, Holmes has to fix a leak and show proof of ownership before the water can be turned on.
What it means for a home to be put in foreclosure
Foreclosures can happen when lenders take control of a property after borrowers have failed to make their repayments.
Homeowners or borrowers will receive a Notice of Default by their lender triggering the foreclosure process.
Those in HOA communities can also see their homes foreclosed by their HOA for falling behind on fees, meaning that even if you keep up on mortgage payments, you can still lose your home.
Before foreclosure, a HOA will put a lien on your property which then allows them to auction it to reclaim unpaid funds.
The sale price of the property can often be much less than it’s worth as it only needs to be enough to cover the debts to the HOA or lender and is sold via auction to the highest bidder.
He’s planning on negotiating down the charge because of the jaw-dropping amount.
“You feel funny paying someone else’s debt, but it kind of comes with the territory,” he said
“But not to this degree.”
New homeowners should expect to pay any overdue utility bills and liens on their property when they buy.
You must also pay for closing costs, home inspections, insurance, and property taxes.
The property drama comes after a woman “lost everything” when her home was sold behind her back.
Another homeowner had to file for bankruptcy after she couldn’t afford her mortgage.
He said the county wouldn’t discuss the details of the bill because it wasn’t under his name[/caption]
