Utilities on day of completion

lisyloo

What happens with meter readings on the day of completion?
At what time is the new owner deemed to have completed?


I presume the timing can't be vague in case something happens at a specific time ??



We have the heating on (low not full) at this time of year.
If we take meter readings before and they take readings after then there will be a small difference.


Can someone explan how this works?


Thanks

sal_III

You just spend 1000s on fees and 100'000s on the property, are you seriously troubled by who is going to pay for half a day of utility bills?

Comms69

The utility companies will write off the pennies (and it is pennies)

lisyloo

sal_III wrote: »

You just spend 1000s on fees and 100'000s on the property, are you seriously troubled by who is going to pay for half a day of utility bills?

Not at all (it's not my money).
I'm just doing the leg work as a deputy so want to carry out my duties correctly and line someone (local) up to get meter readings at the correct time.


Thanks for the info both.
I will let my family know that the timing isn't crucial which is very useful for them to know as they all have jobs/dependents.


(Oh and we're selling so not spending 6 figures on property).

mrschaucer

lisyloo wrote: »

What happens with meter readings on the day of completion?




We have the heating on (low not full) at this time of year.
If we take meter readings before and they take readings after then there will be a small difference.


Can someone explan how this works?


Thanks

This is a bit strange - it would be normal to turn everything OFF after the final meter reading on completion day. Why would you leave the heating on? The property is insured at the BUYER's risk from exchange.

badger09

In November, I dealt with sale of my late sister's house as executor. House is in Devon, I'm in Shropshire and readings on day of completion would have been difficult for me.

Completion was on 16th. I submitted EON gas & electricity 'final' readings around 14.30 on 15th. Heating had to be on as condition of the insurance but my readings were accepted & final bill generated accordingly.

Water meter had been read by SW Water on 5th but they accepted my assurance on 15th that apart from a couple of kettles full, none had been used since then.

Unless there are big discrepancies between closing and opening readings, submitting early won't be a problem.

walwyn1978

Almost everyone and their family wants it OFF because of concern that they will be billed for energy they haven’t used if the heating is left on full bore after final readings. I’d turn it off but if you feel it’s worth asking them go ahead.

lisyloo

mrschaucer wrote: »

This is a bit strange - it would be normal to turn everything OFF after the final meter reading on completion day. Why would you leave the heating on? The property is insured at the BUYER's risk from exchange.

I will check was has to be done from insurance/liability point of view.


Cost is not a consideration, just need to get people in place as I am not local.

lisyloo

walwyn1978 wrote: »

Almost everyone and their family wants it OFF because of concern that they will be billed for energy they haven’t used if the heating is left on full bore after final readings. I’d turn it off but if you feel it’s worth asking them go ahead.

It's on low and it's small flat with night storage heaters so cost isn't really a consideration.
Cost might be a moot point if the energy is consumed at night.


They were put on to avoid issues with pipes freezing (not likely in a flat) but also to prove to the seller it was functional as flat has been empty and it was mentioned by solicitor/surveyor.

G_M

If you're selling, did you use a local estate agent? Ask them to go in and take a reading on Completion day.7


I suppose they might charge you for this service, but I'd have thought they'd do it as part of the overall fee you are paying them.


Or a neightbour? Leave key with them. You could also then tell the buyer to collect the key from the neighbour.

lisyloo

G_M wrote: »

If you're selling, did you use a local estate agent? Ask them to go in and take a reading on Completion day.7


I suppose they might charge you for this service, but I'd have thought they'd do it as part of the overall fee you are paying them.


Or a neightbour? Leave key with them. You could also then tell the buyer to collect the key from the neighbour.

Yes we used a local estate agent.
I'm sure they'd be helpful as they are also selling our buyers property so 2 x commission for them in this chain.


There is also an on-site manager at the block who probably would do it.
There is a key in a secure box as both MIL and FIL had carers going in, so key is no issue.


There is family locally so one of them will probably go round to check up on any last minute post.