Whether you are a buyer or a seller, transferring utilities should be at the top of your “to do list” to avoid any interruption of services such as gas, electric and water.
As a buyer, contact utility providers to have services transferred to your name. It is important to do this prior to the closing to make sure that the seller’s utility accounts are current. Typically, any balance due will transfer with the property. In addition to basic utilities, also remember trash collection, cable TV, telephone and internet services, and security systems.
As a seller, it is best to not cancel utilities before the closing date unless you are 100% sure the transaction will close successfully. If you cancel sooner and the deal doesn’t close, you run the risk of being without power and heat.
It is in the best interest of both buyer and seller to work together in coordinating the utility transfers so neither party is left with an unpaid bill, or worse yet, a disruption of service.
