Question removed

Asked by Khub, Morris Plains, NJ Tue Jun 3, 2008

This question was removed by its author.

Answers

15
Alan May, Agent, Evanston, IL
Wed Jun 4, 2008
The purpose of the inspection is to disclose to the buyer, any safety or structural hazards, to identify any systems (roof, HVAC, electrical, plumbing, appliances) that are not performing the function for which they were designed (regardless of age or condition).

If you find something that is not working, or is unsafe, you should surely negotiate a repair or a credit, if your contract allows for that. But the fact that a mechanical is old (but working) is not usually a valid reason to ask for money.

The purpose of the inspection is so that you can go into your purchase with your eyes open, knowing what expenses to expect as you go along. It should not be considered simply an opportunity to renegotiate your deal.
2 votes
Jeremy S. Hi…, , Cherry Hill, NJ
Tue Jun 3, 2008
Khub,

Every agreement of sale is different. You should read the inspection contingency carefully. It sounds like you do not have an agent or attorney who is representing your interests. You should! What you should remember too is that home warranties varies as well. Some home warranties will cover servicing an items but not will cover replacement costs. In addition if an item is past its expected likely its is not up to what may be considered energy efficient by today's standard. This will likely mean a higher utility bill if its a water heater, central a/c unit or furnace. So while the advice given here is generally good no one can specifically advise you how to proceed because we do not know the terms of your contract or the specific items that are beyond there expected life.
1 vote
marciecentur…, , Metuchen, NJ
Wed Jun 4, 2008
First I would like to see the disclosure statement before signing a contract. Then after the home inspector said they were in working order I would see how much for a replacement or see if they had a home owners warranty.Hopefully you had a good real estate agent who advised you how to proceed.
Good luck.
0 votes
John Wortz, Both Buyer And Seller, Long Branch, NJ
Wed Jun 4, 2008
A buyer has an obligation to visually inspect the obvious. Unless you are 21 and this is your first home, you have no excuse. It was up to you to look at the hot water heater, furnace, air conditioning, refrigerator, stove, and discuss the age and general condition as part of your purchase negotiations. Sounds like you are looking for someone to make up for your lack of due diligence. Problems beyond the visual observation of a buyer are fair game for renegotiation after a professional inspection. You come back to me and tell me that my hot water heater is old, and I will rip up your contract. You come back to me after an inspection and tell me something that you could not have known, or I do not know, I will sit down at the table and figure out a solution. Grow up and take some responsibility for your oversights.
0 votes
Debt Free Da…, , 85260
Wed Jun 4, 2008
Negotiation is all negotiable. What is your feel for the seller as to what they would be willing to do. My experience with major repairs is that you are better off sometimes to do them yourself. Sometimes a seller will do a repair cheaply or sloppy just to get it handled. I would rather have quality. I would ask for a credit and have it done after closing.
Web Reference:  http://getprequalified.com
0 votes
Susan Zanzon…, Agent, Morristown, NJ
Wed Jun 4, 2008
Try to get a credit of some sort and buy a new HWH. I cannot believe any company will give you a warranty on a HWH that old.
0 votes
Gina Chirico, Agent, Fairfield, NJ
Wed Jun 4, 2008
Khub,

My real estate agent seems to be convincing me that warranty should solve the problem but I have a feeling that she is not giving me right advice this time :(
*******************************
Is she recommending a home warranty at your cost or at the seller's cost? Either way you should request to see a copy of the warranty that details specific coverages, exclusions, and limitations so you will know if it's worth the cost. Keep in mind that it will also cover the the replacement of other major appliances as well so it can actually be worth it if in fact the HWH is covered.

Good luck and let us know how you make out.

Gina Chirico, Sales Associate
Prudential NJ Properties
973-239-7700 ext 132
973-715-1158 cell
GinaChirico@PruNewJersey.com
0 votes
Khub, Home Buyer, Morris Plains, NJ
Wed Jun 4, 2008
It was not mentioned on the disclosure form. In this case, is it a good idea to go back to the seller and negotiate on the price? My real estate agent seems to be convincing me that warranty should solve the problem but I have a feeling that she is not giving me right advice this time :(
0 votes
Susan Zanzon…, Agent, Morristown, NJ
Wed Jun 4, 2008
I doubt that you'll be able to get a home warranty on a HWH that is 28 years old...thats way past life expectancy. Good grief, are you sure it works...and wh is the manufacturer?!! Either way, I would make arrangements to put a new one in as you don't want to wait till it fails....that could be messy.
0 votes
Khub, Home Buyer, Morris Plains, NJ
Wed Jun 4, 2008
Thanks for all the answers. My specific situation is that there is a water heater which is expected to work for 12-15 years and is already past 28 years but in working condition. Does it make sense to take out a warranty on something that you know has a very high probability of failing?
0 votes
John Sacktig, Agent, New Jersey, NJ
Wed Jun 4, 2008
There are a few good answers here. Given the condition noted as working, although past there expected lives, it sounds like they are in good wroking order. Look for a warranty of some kind. Your Realtor should have information regarding these warranty products, it is a good option.
0 votes
Gina Chirico, Agent, Fairfield, NJ
Wed Jun 4, 2008
Khub,

Assuming you have an inspection contingency in your contract, did your attorney revise the inspection terms during attorney review? Most attorneys will allow a dollar amount for inspection issues that either buyer or seller can walk away if results of the home inspection are above and beyond a certain dollar amount.

However in the case of older appliances, furnace, etc....was there a Sellers Disclosure? If so, did it state the age of the water heater, furnace, etc. and in what working condition they were in? Not being a licensed inspector, could you tell from just looking at the heating system, boiler, etc. that they were old/outdated? If so, then pretty much you were aware of how old they were thus making your offer should have reflected that and it is kind of moot point to bring it up now but you still can should you choose to and if your inspection contingency/terms apply.

Now if there was no seller's disclosure but your inspection report revealed that they are older but in working order - then you can try to negotiate if a seller will pay for a home warranty (be sure to read the terms of the warranty so you completely understand what is covered and what is not). If the seller will not pay for a home warranty, you are by all means allowed to take your own policy out but again be sure of its terms. In the alternative, you may seek a credit for a reasonable dollar amount.

You should definitely be speaking about the inspection results with your attorney and your agent because they obviously know the inspection contingency/terms relating to your contract. Again, depending on your terms and to answer your question -- typically a home warranty and/or credit takes care of those types of issues arising out of a home inspection.

Good luck and call your agent and attorney.

Gina Chirico, Sales Associate
Prudential NJ Properties
973-239-7700 ext 132
973-715-1158 cell
GinaChirico@PruNewJersey.com
0 votes
Jeanne Feeni…, Agent, Basking Ridge, NJ
Tue Jun 3, 2008
Hi Khub, the first answer is on target. I'd suggest asking for a Home Warranty and be sure that the coverage includes those items of most concern. One wrinkle I'm bumped into is that coverage may be an issue if a system, say the heating or cooling system has not been serviced within a certain period - so - that may be something you want to ask about and perhaps ask for if it hasn't been done for a while. This will give you the peace of mind to move forward with the transaction.

Then budget some money knowing that replacement of some systems/appliances may be necessary in the future.

Good luck and enjoy your new home!
Jeannie Feenick
Web Reference:  http://www.feenick.com
0 votes
Scott Epstein, , Crystal Lake, IL
Tue Jun 3, 2008
If your real estate contract has an inspection contingency then you have 3 options. First, you can try and negotiate a lower purchase or have the seller give you a closing cost credit. Second, you can accept that these items may need to be replaced soon. Third, you can choose to walk away. Before making a decision I would find a licensed professional that is familiar with the items in question and find out the cost of replacing them.
0 votes
Susan Zanzon…, Agent, Morristown, NJ
Tue Jun 3, 2008
Technically they are in working order, and when you looked at the home and/or read the sellers disclosure, this information would've revealed the age. However you can try to negotiate a credit or if they are appliances, is the seller offering a home owners warrantee...insurance incase something goes wrong.
0 votes
Search Advice
Search
Ask our community a question

Email me when…

Learn more