We do not issue ‘final accounts’ when a property is sold. Prior to settlement of the property sale, the purchaser or their solicitor typically arranges a special water meter reading
(SMR). The SMR service allows the solicitor or conveyancer to identify the pro-rata balance owing (or any credit) on the account at the time of settlement. Any balance owing for the water and sewerage account is typically paid by the seller to the buyer in the settlement. This is in accordance with the REIQ Contract of Sale
The new owner of the property is then responsible for paying the water and sewerage account when the next bill is issued. This may take several weeks or months from settlement date.
If you have any concerns, you can refer to your property settlement statement provided by your solicitor or conveyancer or contact them directly to clarify the terms of your property settlement.
Any outstanding balance after a change of ownership will become the responsibility of the new property owner, as the debt remains with the land, not with the customer.
For solicitors, conveyancers and customers looking to calculate property settlement figures, there is a new way to calculate a Water Cost Estimate.
Thanks to our Simpler Billing initiative, service charge periods now start from the same date as the last meter reading date.
To calculate the unbilled service charges a buyer is responsible for, simply multiply the daily price by the number of days between the last meter reading and the settlement date.