{"id":11673,"date":"2025-12-17T21:31:17","date_gmt":"2025-12-17T21:31:17","guid":{"rendered":"https:\/\/foliotitle.com\/?p=11673"},"modified":"2026-10-26T12:30:46","modified_gmt":"2026-10-26T12:30:46","slug":"water-balance-and-water-holdback-policy","status":"publish","type":"post","link":"https:\/\/cloud.titletapsites.com\/foliotitle\/water-balance-and-water-holdback-policy\/","title":{"rendered":"Water Balance and Water Holdback Policy"},"content":{"rendered":"<p>(Effective as of September 22, 2025)<\/p>\n<h3>1. Water Balance Collection<\/h3>\n<ul>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">During the closing process, FOLIO Title obtains the water balance from the lien search.<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">FOLIO staff will then call the water department to verify the actual balance by phone before closing.<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">At Closing, FOLIO will collect this balance from the Seller. This amount will be reflected on the Closing Statement as <\/span><b>\u201cWater Balance.\u201d<\/b><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">If the balance amount provided by the water department is greater than the amount shown on the lien search, the greater amount is to be collected.<\/span><\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<h3>2. Water Escrow Holdback Collection<\/h3>\n<ul>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">At Closing, FOLIO will also collect a <\/span><b>\u201cWater Escrow Holdback\u201d<\/b><span style=\"font-weight: 400\"> amount, pending the final reconciliation by the water department.<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">The amount of the \u201cWater Escrow Holdback\u201d is calculated as follows:<\/span>\n<ul>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">When the confirmed water balance is less than $200, or if there is no balance, FOLIO will collect a $250 holdback.<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">When the confirmed water balance is above $200, FOLIO will collect the balance <\/span><b>plus 25%<\/b><span style=\"font-weight: 400\">.<\/span><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<h3>3. Issuance of Check and Seller Authorization Letter<\/h3>\n<ul>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">At Closing, FOLIO will prepare <\/span><b>one check<\/b><span style=\"font-weight: 400\"> made payable to the water department, representing the sum of the water balance and escrow collected.<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">The Seller will sign an <\/span><b>Authorization Letter<\/b><span style=\"font-weight: 400\"> addressed to the water department (template provided by FOLIO). This letter directs the water department to:<\/span>\n<ol>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">Deposit the check issued by FOLIO at Closing.<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">Refund any overage directly to the Seller at the forwarding address provided.<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">Close the Seller\u2019s water account once the final bill has been satisfied.<\/span><\/li>\n<\/ol>\n<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<h3>4. Buyer and Seller Responsibilities<\/h3>\n<ul>\n<li style=\"font-weight: 400\"><b>Seller<\/b><span style=\"font-weight: 400\">: By signing the Authorization Letter, the Seller acknowledges that any excess funds will be refunded directly to them and that the water account will be closed by the utility once the check clears. Seller is no longer required to send a Final Water Bill to FOLIO.<\/span><\/li>\n<li style=\"font-weight: 400\"><b>Buyer<\/b><span style=\"font-weight: 400\">: The Buyer is assured that the Seller\u2019s account will be closed and that no unpaid water balances will remain attached to the property.<\/span><\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<h3>Key Benefits of the New Policy<\/h3>\n<p><span style=\"font-weight: 400\">\u2705 <\/span><b>For Sellers<\/b><span style=\"font-weight: 400\">: Faster refunds (direct from utility), no need to send FOLIO a Final Water Bill.<\/span><span style=\"font-weight: 400\"><br \/>\n<\/span><span style=\"font-weight: 400\"> \u2705 <\/span><b>For Buyers<\/b><span style=\"font-weight: 400\">: Confidence that the Seller\u2019s water account is fully closed and settled.<\/span><span style=\"font-weight: 400\"><br \/>\n<\/span><span style=\"font-weight: 400\"> \u2705 <\/span><b>For Realtors<\/b><span style=\"font-weight: 400\">: No post-closing delays or follow-ups needed.<\/span><\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Effective as of September 22, 2025) 1. Water Balance Collection During the closing process, FOLIO Title obtains the water balance from the lien search. FOLIO staff will then call the water department to verify the actual balance by phone before closing. At Closing, FOLIO will collect this balance from the Seller. This amount will be [&hellip;]<\/p>\n","protected":false},"author":50,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[30],"tags":[],"class_list":["post-11673","post","type-post","status-publish","format-standard","hentry","category-english"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Water Balance and Water Holdback Policy - Doral, FL Title Company | Folio Title LLC<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cloud.titletapsites.com\/foliotitle\/water-balance-and-water-holdback-policy\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Water Balance and Water Holdback Policy - Doral, FL Title Company | Folio Title LLC\" \/>\n<meta property=\"og:description\" content=\"(Effective as of September 22, 2025) 1. 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