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The biggest problem turned up was a boiler that wouldn't fire, a lot of steam leaks in the piping and asbestos insulation on pipes. The inspector has suggested changing over from oil to a high-efficiency gas boiler and forced hot water.
My question is this...
To install the above items, remove the asbestos and get rid of the monstrous oil tank, how much are we talking?
And, how much of this cost should I expect the seller to eat?
Everyone wants to move to contract quickly, what's the next logical step?
Thanks!!
(Dumb question alert: The house has a gas stove, so I'm assuming the source to convert is already there...)
The biggest problem turned up was a boiler that wouldn't fire, a lot of steam leaks in the piping and asbestos insulation on pipes. The inspector has suggested changing over from oil to a high-efficiency gas boiler and forced hot water.
My question is this...
To install the above items, remove the asbestos and get rid of the monstrous oil tank, how much are we talking?
And, how much of this cost should I expect the seller to eat?
Everyone wants to move to contract quickly, what's the next logical step?
Thanks!!
(Dumb question alert: The house has a gas stove, so I'm assuming the source to convert is already there...)
They have High Efficient oil burners....just call up the current supply company the seller is using and ask them what it would cost to install one...I am sure that in today's market...there will be alot of installers that will offer you a free estimate as to what it would cost to install a new boiler and/or to convert over to oil...and to answer your question...yes you are all set for gas...and if you look...your should find a gas meter (usually gray) somewhere around the house...could be in the basement..but I am sure the seller knows where it is....
Removing Abestos is expensive...the costs of removal...dumping...etc... runs rather high...but this is something you should be able to get an estimate for....
As to how much the seller should eat.....all of it......after all...it is a buyer's market...and if the seller will not address the issues....walk away...and the most you will have lost is the price of the inspector...
The worst thing you can do is "Everyone wants to move to contract quickly," ...remember...this might be the largest purchase you ever make in your life time....do not move quickly...sit back and really think it over...for after you sign on the dotted line....it is almost impossible to walk away for free.......AND remember...there are alot of houses on the market...so you will find another one...just give it some time...and do not jump before you look!!!!
If the seller will not address and pay for the issues, your best bet is to walk away. You are not talking cosmetic issues, these are huge problems that can run you a lot of money and headaches. Why buy someone else's huge problem when I am sure there will be other things that you need to fix.
If the seller agrees to fix everything, then it might be ok. You may want to call around for estimates (try yellow pages or ads in newspapers).
Ok well converting for steam to forced hot water will be much more expensive than $7500. That is just for the boiler and not the rest of system which will be another & $5000-$10000 not including repairs to floors and walls. Although you can use a steam radiator for forced hot water, it its not very eff. at all. Plus the system is already leaking, so the entire replacement of radiators to baeboard is needed.
Asbestos is not too bad, $2500-$5000.......
Get 3 estimates for everything and have your attorney neg. the cost.
FYI....you are looking at a very big job, might be wise to keep on shopping.
It's a bummer, but we are definitely keeping our options open and still shopping...
Who should be brought in for an estimate on repair? The owner's boiler company? A random company? Are these types of estimates free?
If anyone can recommend someone to look at the boiler and the heating system, I'm game...
Any lic. plumber can give an estimate....they are typically free.
ITs not just a repair, its a replacement.....how old is the house?
Send me a IM, I can give some names.
Iwould not use the sellers plumber. Good luck!
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Get Some Estimates!!!
...after all...it is a buyer's market...and if the seller will not address the issues....walk away...and the most you will have lost is the price of the inspector...
...AND remember...there are alot of houses on the market...so you will find another one...just give it some time...and do not jump before you look!!!!
Good info
