What is this payment? This payment essentially replaces the “front foot benefit charge?In the past, the County collected this charge on behalf of Washington Suburban Sanitary Commission (WSSC) along with the property owner’s real estate tax.In the 1990’s, decisions were made so that the initial construction cost burden be redirected to the developers in order to keep pace with development.In the past, this fee was paid to WSSC for the construction of the water/ sewer lines leading from a home to the public facilities.The County no longer collects the fees.In new developments, all new homes are subject to the “Declaration of Deferred Water/ Sewer Charges?instead of a WSSC Front Foot Charge. Who is Potomac Utility? We are a private company collecting the amounts due for the initial construction of water/sewer lines from your home to the public mains as provided in the “Declaration of Deferred Water/Sewer Charges?disclosed to you in your purchase contract. When is my payment due? Your payment is due by January 31stof each year.The bill period calendar runs from Jan 31st to Jan 30th of each year.Payments are prepaid at the start of each year.The fee is prorated at the time of your initial home purchase closing and payment is sent to us by your closing agent. Will I receive a notice? We do send out a reminder notice each December, typically around the 15th , as areminder to homeowners of the upcoming payment, however, it is not mandatory for us to do so.If a notice is not received either by oversight, omission or mail error, it is the sole responsibility of the homeowner to ensure that the payment is made.There is no obligation for us to send out notices. Can I roll this into my mortgage? Yes.Refinancing options can be discussed with your lender in order to issue a full payoff of this bill.A second option could be to have this annual fee escrowed into your mortgage.If you select this method, You will continue to receive billing from P.U.C.It is your responsibility to ensure that your mortgage company receives the billing and properly processes payment. When are late fees assessed? Late Fees are dependent upon the outline of your “Declaration of Deferred Water/Sewer Charges?Please review your Declaration for specific terms.**
How much are the late fees? There may be a late Charge added to your payment, with additional calculations to include an accrual of late interest, legal costs and costs of collections, if warranted.It is imperative for you to review the “Declaration of Deferred Water/Sewer? Can I pay off early? Yes.Payoff can be made at any time.If a homeowner wants to pay off earlier than what is outlined per the amortized schedule, simply contact us at 703-821-2253 to obtain the payoff balance and simply submit check, money order or certified funds to P.O. Box 3448 Mclean, VA 22103-3448.An early payoff reduces your payment substantially and is highly recommended. What happens if I don’t pay? When the homeowner does not pay, late fees including interest accrual, penalties and legal fees are assessed, as well as a lien placement on the property is ordered. What happens if I sell my house? When a homeowner decides to sell the property the steps are as follows.
1)Contact Potomac to notify of the pending sell 2)Notify your sales agent and title company of this note 3)Provide contact information for Potomac to the title company (they must contact us) 4)If you have made the annual payment,the prorated amount should show as a refund back to you on the sales contract; the new purchaser should be billed as the replacement payee of the prorated amount on their side of the sales contract. 5)We must receive a copy of the new HUD 6)Your name is removed from our annual billing and the new homeowner becomes the holder of the note.
뎌ݦ>**Please contact us if you need a copy of your “Declaration?BR>