Urgent help, furnace breaks 18 hours before closing, sellers asking me to split cost of repair. (agent, price)
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I am scheduled to close tomorrow morning and I got word today that the furnace broke. The sellers had someone come look at it and they said a patch would not hold long and it needs replacing. The furnace is roughly 17 years old. The sellers current position is that they will put up half the cost to repair, and are asking us to put up the remaining half.
My inclination is that this is total BS. Had it broken an hour after closing, and I had asked them to give me half of the cost of fixing, they would undoubtedly have laughed me out the door. Yet they are asking me to do the same. I have plenty of risk left in the house, I could move in next week and have a leak in the roof, or whatever. They want me to absorb their risk and still maintain my existing risk.
Please tell me if I'm wrong. My realtor is also saying that if the furnace appears operational, meaning that if they were to patch it in time for the walk through tomorrow AM, that I could be in danger of losing my deposit if I don't close.
I'm ready to hire a lawyer at this point. Sure some might say it's a few thousand dollars, but when does the BS stop? To me it's money I don't have to spare, and I am already dealing with many other expensive and existing issues in this house.
Looking forward to the experts' advice here, regardless of which side it falls on.
I am scheduled to close tomorrow morning and I got word today that the furnace broke. The sellers had someone come look at it and they said a patch would not hold long and it needs replacing. The furnace is roughly 17 years old. The sellers current position is that they will put up half the cost to repair, and are asking us to put up the remaining half.
My inclination is that this is total BS. Had it broken an hour after closing, and I had asked them to give me half of the cost of fixing, they would undoubtedly have laughed me out the door. Yet they are asking me to do the same. I have plenty of risk left in the house, I could move in next week and have a leak in the roof, or whatever. They want me to absorb their risk and still maintain my existing risk.
Please tell me if I'm wrong. My realtor is also saying that if the furnace appears operational, meaning that if they were to patch it in time for the walk through tomorrow AM, that I could be in danger of losing my deposit if I don't close.
I'm ready to hire a lawyer at this point. Sure some might say it's a few thousand dollars, but when does the BS stop? To me it's money I don't have to spare, and I am already dealing with many other expensive and existing issues in this house.
Looking forward to the experts' advice here, regardless of which side it falls on.
Well all I can tell you is when I asked our agent if we should replace furnace as it was old before we listed...she said, "No way if it is questioned or made issue, offer to pay half for a new one."
When we got an accepted contract the older furnace was never brought up. Buyers inspector gave it a pass. We felt like the price the buyer got reflected some of the possible downfalls. Good luck.
My only other comment would be that you put in an offer knowing their furnace was several years old. You didn't bring it up during inspection and probably couldn't as there would have had to be something wrong with it then I imagine. There will always be maintenance and costs involved with home ownership believe me.
Last edited by gold*dust1; 08-12-2009 at 11:15 PM..
Where the heck do you live that (in August) the seller's discovered that the furnace is broken?
Apparently its used to heat water, or so that is my guess. I still haven't fully obtained exactly how they learned this, other than perhaps that it leaked and it became visually obvious in the basement?
Well all I can tell you is when I asked our agent if we should replace furnace as it was old before we listed...she said, "No way if it is questioned or made issue, offer to pay half for a new one."
When we got an accepted contract the older furnace was never brought up. Buyers inspector gave it a pass. We felt like the price the buyer got reflected some of the possible downfalls. Good luck.
My only other comment would be that you put in an offer knowing their furnace was several years old. You didn't bring it up during inspection and probably couldn't as there would have had to be something wrong with it then I imagine. There will always be maintenance and costs involved with home ownership believe me.
But I don't own the house... yet. If it was known at the time of inspection, it would be a different story. I signed a contract on the premise that the furnace was working properly. Its got 4 years left in its life, supposedly. I don't see how I can be expected to pay a penny towards its future.
And like I said, I'm already paying over 15k in other repairs, it's not like I'm not putting up my own end of this.
But I don't own the house... yet. If it was known at the time of inspection, it would be a different story. I signed a contract on the premise that the furnace was working properly. Its got 4 years left in its life, supposedly. I don't see how I can be expected to pay a penny towards its future.
And like I said, I'm already paying over 15k in other repairs, it's not like I'm not putting up my own end of this.
Well if you feel that strongly about a few thousand...lose your deposit...or refuse to pay half and see what goes down...play hardball IDK..good luck.
Well if you feel that strongly about a few thousand...lose your deposit...or refuse to pay half and see what goes down...play hardball IDK..good luck.
Why would I lose my deposit? That is the whole point of a walkthrough. If the property doesn't meet the standards of condition that it was in when the contract was signed, then I have every right to my deposit. Can anyone provide a pseudo-legal reason why this would not be the case?
Why would I lose my deposit? That is the whole point of a walkthrough. If the property doesn't meet the standards of condition that it was in when the contract was signed, then I have every right to my deposit. Can anyone provide a pseudo-legal reason why this would not be the case?
I'm going by what your agent told you and my own opinion. Do you think your agent is lying to you about that? I would guess for certain you will lose it if you back out. That is just the way it works. You knew the furnace was old..it is the luck of the draw. If it broke the day after you moved in it would all be on you.
Your sellers should have offered a home warranty. I bet they (home warranty) would find a way to patch it then.
I am scheduled to close tomorrow morning and I got word today that the furnace broke. The sellers had someone come look at it and they said a patch would not hold long and it needs replacing. The furnace is roughly 17 years old. The sellers current position is that they will put up half the cost to repair, and are asking us to put up the remaining half.
My inclination is that this is total BS. Had it broken an hour after closing, and I had asked them to give me half of the cost of fixing, they would undoubtedly have laughed me out the door. Yet they are asking me to do the same. I have plenty of risk left in the house, I could move in next week and have a leak in the roof, or whatever. They want me to absorb their risk and still maintain my existing risk.
Please tell me if I'm wrong. My realtor is also saying that if the furnace appears operational, meaning that if they were to patch it in time for the walk through tomorrow AM, that I could be in danger of losing my deposit if I don't close.
I'm ready to hire a lawyer at this point. Sure some might say it's a few thousand dollars, but when does the BS stop? To me it's money I don't have to spare, and I am already dealing with many other expensive and existing issues in this house.
Looking forward to the experts' advice here, regardless of which side it falls on.
Seriously, you want to get lawyers involved over a furnace? You'd probably be able to buy 3 furnaces with the amount spent on legal bills. I think I'd take the guy's offer and keep the deal on track.
Apparently its used to heat water, or so that is my guess. I still haven't fully obtained exactly how they learned this, other than perhaps that it leaked and it became visually obvious in the basement?
Then it's a boiler and not a furnace.
Something doesn't sound/feel right about the whole thing.
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