It is a done deal. We signed on all the dotted lines, forked over a nice little chunk of change, and got a pocket full of keys in return (actually 16 keys!!!).
After the closing we went to the house and promptly started ripping up carpet. We found the floors underneath to be in surprisingly good condition, if a bit odd in configuration (that funny mix of parquet, plank and plywood subfloor). It also satisfied our desire to rip something up and start making the place OURS.
Luckily we were still inside when the city turned on the water to the house. We heard some gurgling then a loud hiss, that we knew was running water. As soon as I heard it I panicked, and ran to utility room, which is just off the entry. There was still no power, so it was dark, but even in the low light I could see two streams of water shooting across the utility room. The valves for the washer hook-up had been left completely open. I shut them off and listened. The sink in the bathroom was flowing, as were two faucets outside. Nice.
It was a very wet welcome, but I shudder to think what might have happened had we not been there. The obvious lesson is BE THERE when the utilities get turned on. You never know what might happen.