that the central air and furnace units are past prime (circa 1987) and need to be replced. The sellers agent didn't put oil in for us to test the furnace-maybe they knew the issue?-so we weren't able to operate it but the inspector went on it's age and avg life expectancy and the AC blew a 4% diff so it is shot. Otherwise house was in good shape-roof is good for at least 10 years and she said it is in great shape for it's age (built in 73). Our agent is well, peeved that the other agent didn't fill the tank and that the heat and ac are not in good shape. She said that we need to ask for either credit of the cost of a new heat pump (around $4,000) or tell them to pay all closing costs. She asl found out after checking the sign in log at the house that an inspection was done about a month ago, called that agent and her clients got the same info on the place and pulled the offer. The house dropped 14,000 in price since. What are the odds we can get them to work with us on this?
2007-09-27 03:06:09 · 8 answers · asked by VAgirl 5 in Business & Finance ➔ Renting & Real Estate
Just talked to hubby, he met with our agent today and after many calls to me back and forth we are sending them a copy of our inspection, and an offer that says we want a credit of $4,000 for the replacement of the system. We are hoping that they will take it-it is offered by an LLC group that flips houses so we hope they are more realistic (winter coming and no heat is a major issue).
2007-09-27 03:23:25 · update #1
I am assuming you are still interested in buying this house. If so, you should have the owners either replace the heating & a/c units or give you an appropriate credit amount off the purchase price/closing costs. Usually when you sign a contract to purchase real estate it contains an inspection contingency which allows for you to specify if you want things fixed, a credit towards the purchase price, or allows you to back out of the contract altogether. The thing that bothers me is that they had already had an inspection done and the selling agent did not disclose the results of that inspection to you (which they should have) or your agent. Not exactly ethical; if they decide to fix it themselves make sure you pay for a re-inspection. Good luck!
2007-09-27 03:21:08 · answer #1 · answered by Erin M 2 · 0⤊ 0⤋
I would imagine that the sellers can't/won't do anything about allowing a credit. The $14,000 price drop is probably due to the prior inspection showing up this problem. Ask your inspector about what it would cost to replace these items, turnkey.
I understand you're PO'ed about this problem and the way the sellers seemingly hid the problem. What matters is, do you want this house? Does the $14,000 drop make it more attractive? Can you replace the AC/heater at a reasonable cost that still keeps the house at a reasonable cost?
2007-09-27 10:23:20 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Assuming you are trying to buy the house but have not done so yet, you can negotiate a lower price. If you signed a contract already, you may not be able to do much, but if you can claim that they knew about the problem and failed to disclose it, you may be able to void the contract. In the final analysis you should pay for the house what you think it is worth given the condition of the equipment and all other factors. If the owner is asking more than you think it is worth, look for another house.
2007-09-27 10:12:51 · answer #3 · answered by Anonymous · 1⤊ 0⤋
Ask for a new furnace and AC before you move in. We sold an older house and had to pay for a new AC/furance as part of the sale. It certainly does no harm to ask, and is more or less expected.
Consider this... they have had the house on the market for over a month and have had to drop the price. They are likely paying mortgage and insurance on the house, and so it is costing them well over $1000 a month to keep it on the market.
2007-09-27 10:17:04 · answer #4 · answered by Wundt 7 · 0⤊ 0⤋
sorry to hear that.
Check your sales and purcahse agreement if that includes a functional unit?
Did you ask the question concerning the furnace unit ?
Did the sellers agent intentional hide the fact from you ?
maybe you want to appeal to the seller goodheartness and ask for a 50 / 50 share on a replacement unit .
Good Luck
2007-09-27 10:15:25 · answer #5 · answered by bm warrior 1 · 0⤊ 0⤋
Well, if you cannot agree on accommodations due to the results of the home inspection, then that would be a reason to get out of the contract. The sales contract will be contingent on the inspection. So, I hope you can agree on an amount, and it all depends on how bad the seller wants to sell their home.
2007-09-27 10:11:15 · answer #6 · answered by bpl 5 · 1⤊ 0⤋
I think they'd work with you. however I would be much more worried about that tank not being filled. Could there be other specific problems that the inspector didnt catch. I would make them pay for another inspector and have the oil tank full to check.
2007-09-27 10:13:11 · answer #7 · answered by sarah W 4 · 1⤊ 0⤋
They didn't disclose info after knowing about the problem. Make them fix it before moving in. Plain and simple.
2007-09-27 10:12:31 · answer #8 · answered by Roland'sMommy 6 · 0⤊ 0⤋