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Old 05-07-2010, 11:08 AM
 
Location: Coastal Northeast
15,742 posts, read 22,008,066 times
Reputation: 5279

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Quote:
Originally Posted by Uconn97 View Post
well apparently we would need more info from the OP before jumping to conclusions.
I didn't realize that giving my inspection experiences to the OP (who is admittedly unfamiliar with the whole process) was "jumping to conclusions".

Quote:
Originally Posted by larsm View Post
My guess is that the lack of buyers (ie less competition with the pool of buyers deeply exhausted) will more than offset the loss of the credit. Of course, YMMV...

EDIT: My real point to the OP is that both seller and buyer have something to lose AND the negotiating position is by no means skewed to the seller's favor as KidYankee implied given the expiration of the tax credit.
You bring up a very good point about the tax credit. I'd be interested to see how much (if at all) the entry-level market slowed as of May 1.

That said, there are so many sellers out there who aren't willing to budge on price and negotiations. Lots of incredibly stubborn sellers!
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Old 05-07-2010, 11:42 AM
 
Location: U.S.
1,581 posts, read 4,771,981 times
Reputation: 1103
[quote=kidyankee764;14077215]I didn't realize that giving my inspection experiences to the OP (who is admittedly unfamiliar with the whole process) was "jumping to conclusions".

"Lots of times the boiler will "work" but not produce enough hot water to take a decent shower, so the inspector will have to give it a pass. I know during my inspection, our water was lukewarm at best but it still got a pass. I think it's a fair expectation that when buying a house, hot water should come with it."

Sorry, I assumed when you said "lots of times" you were applying that to others situations. Or have you been through many home inspections where the boiler wasn't producing enough hot water? If you haven't then I would call that jumping to conclusions and since we are missing a bit of information from the OP I don't think telling him that "Lots of times the boiler will "work" but not produce enough hot water to take a decent shower" is particularly helpful. So sorry to have misunderstood.
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Old 05-07-2010, 05:02 PM
 
Location: In a house
13,258 posts, read 34,655,551 times
Reputation: 20198
The whole arguement about the boiler is irrelevant on this thread, since the OP's concern is about his furnace, not his hot water heater. Two completely different animals.
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Old 05-07-2010, 05:28 PM
 
Location: New England
8,155 posts, read 18,205,880 times
Reputation: 3279
Quote:
Originally Posted by eagle7 View Post
My water heater is 35 yrs old & My furnice is 45 yrs old & they both still work good.
And about as efficient as the federal government. LOL

Quote:
Originally Posted by AnonChick View Post
The whole arguement about the boiler is irrelevant on this thread, since the OP's concern is about his furnace, not his hot water heater. Two completely different animals.
No offense, but contrary to what you *THINK*, indirect oil fired hot water is a LOT more common in CT than you probably realize. In short, many furnaces have a "hot water coil" that produces hot water through the boiler. (Furnace)
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Old 05-07-2010, 06:42 PM
 
Location: In a house
13,258 posts, read 34,655,551 times
Reputation: 20198
Again, it's irrelevant. The OP said that the inspector had issues with the oil furnace. Not "the hot water coil that produces hot water through the boiler," or the "indirect oil fired hot water device." He specified - the oil furnace. That isn't what I think. It's what the OP said.
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Old 05-07-2010, 09:52 PM
 
Location: Coastal Northeast
15,742 posts, read 22,008,066 times
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Quote:
Originally Posted by Uconn97 View Post
Sorry, I assumed when you said "lots of times" you were applying that to others situations. Or have you been through many home inspections where the boiler wasn't producing enough hot water?
I've been through three home inspections including my current home. Two had issues with the boiler (including our current house) and one inspection revealed a major issue with the roof. The home buying process isn't fun.

It's okay - we all misunderstand sometimes!
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Old 05-08-2010, 03:59 AM
 
Location: U.S.
1,581 posts, read 4,771,981 times
Reputation: 1103
Quote:
Originally Posted by kidyankee764 View Post

It's okay - we all misunderstand sometimes!
clearly
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Old 05-08-2010, 04:10 AM
 
Location: N of citrus, S of decent corn
34,611 posts, read 42,768,368 times
Reputation: 57316
You can ask for whatever you want, but if the seller says no, you will need to take it or leave it. Most sellers would say they allowed for this in their asking price.
We are buying a 1986 house with a new roof, water heater and air conditioner, but the furnace is 24 years old. Our inspection showed up only some broken seals on thermopane windows which we asked to be replaced and the seller did. We did not even consider asking for a new furnace just because it might break in the future.
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Old 05-08-2010, 05:33 AM
 
Location: New England
8,155 posts, read 18,205,880 times
Reputation: 3279
Quote:
Originally Posted by AnonChick View Post
Again, it's irrelevant. The OP said that the inspector had issues with the oil furnace. Not "the hot water coil that produces hot water through the boiler," or the "indirect oil fired hot water device." He specified - the oil furnace. That isn't what I think. It's what the OP said.
It's all contained inside the furnace. The furnace still fires up and the boiler (The thing that heats your home) that is what heats the water for your tap. If the furnace is bad, you dont' haver hot water. They are one in the same. It's that simple.

It's obvious you dont know how these things work, so how about you stop trying to be snarky and just accept it.
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Old 05-08-2010, 06:23 AM
 
3,328 posts, read 3,267,174 times
Reputation: 8438
You both don't want to lose the deal. You, because you will lose the 8K credit. Him, because the tax credit sucked all the people who were planning to buy into the market, and every one of them tried to go to contract before 4/30. I strongly believe that the market is going to die until next spring, and the seller and his realtor know that. So, did he reveal that the furnace was 25 yrs old on the disclosures? Then you should have known at the time of price negotiation that a new furnace was needed. That being said, I agree that you should have him pay for an eval by a furnace repair person, then ask for a credit for all that is recommended, even if replacement is recommended, then agree to split the cost, if necessary. Unless, of course, it was fully disclosed that the furnace was old and in need of repairs, and stated that price reflected the old furnace. You have some leverage here - he doesn't want to lose you as a buyer. He's not gonna get another one that fast, what with the tax credit having expired.
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