AC unit was stolen after final walkthrough and before I got keys

AC unit was stolen after final walkthrough and before I got keys

Banker · Member since 2020 · 2 posts · 5 votes

Hello everybody! I find myself in a little trouble. Hopefully, someone will be able to provide advice on how to best tackle this; I would greatly appreciate it. 

I recently purchased my first house hack in Texas. The final walkthrough was October 17th, thinking we would close a few days later, the house was complete at that time. The lender dragged on the approval process, and I ended up signing closing documents on November 12 during a remote closing. My agent was not present. There were 26 days between the final walkthrough and closing. My agent didn't think of having another walkthrough. She says we didn't have one because I didn't ask for one. (My lack of experience was the reason why I wanted an agent in the first place.) The Title Company received part of my funds via wire transfer around 4-5pm on November 12 and the other part was a cashier's check I provided to the escrow officer during closing. My agent gave me the code to the lockbox at the property so I would pick up the keys after work myself on November 13 after asking for them a day prior.  That's when I realized the AC unit was gone. I contacted her, she contacted the seller. I filed the police report. (I now know the final walkthrough is done a day prior or even the day of closing.) 

The seller offered to pay most of the cost of the unit and installation with the condition of having me pay $1,250. My agent and her broker say there's nothing they can do to help me. I do not want to pay $1,250 for an AC unit I already paid for once when I bought the home. 

As of today, I plan to file a complaint with the Texas Real Estate Commission against my agent and probably file a lawsuit against the seller. 

I would really appreciate your opinion on how to fix the mess I got myself into. 

Thank you!

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Josh C.Pro Member
Property Manager · Indianapolis, IN · Member since 2010 · 1k+ posts · 1k+ votes
5y

I think your attitude is totally wrong. What did the seller do to warrant a lawsuit? If you were the seller would you think you did anything wrong? Why does your agent need to advise you that you should look at something that is vacant and unwatched before you spend a lot of money on it?

Victim attitude doesn’t get you far. Got to own this one. Next time you spend 100k on something go see it at least 48 hours before buying it. $1200 is cheap for a lesson. That old ac probably wasn’t brand new anyway.

Sorry that probably sounds harsh, but victim mentality will get you nothing but bitterness.

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  • Real Estate Agent · Northern Ohio · Member since 2020 · 3 posts · 0 votes
    5y

    @Miriam De Haro your real estate agent and their broker will most likely pick up the additional costs if the seller does not. Consult an attorney.

  • Property Manager · Westminster, CO · Member since 2018 · 486 posts · 110 votes
    5y

    @Miriam De Haro

    I’m sorry this happened but I would pay the $1250 and move in and on. I would be more concerned honestly about the fact that AC was stolen. Was this purchase in a decent neighbourhood? How do you know this won’t happen again? The seller willing to pay half the cost and installation sounds fair to me. You’ve gotten this far in the process to turn back and walk away. Although $1250 sounds like a lot now, it’ll be a story to tell in the future when the investment pays for its self over and over again. It’s $1250 lesson well learned. You’ll be hacking as well, so your tenants will pay for it essentially sooner than later. You’ll stress yourself out way more getting legal involved. You and I both know to def do a walk through regardless of any situation. Your agent should have known better as well. Time to look for a new one as well.

    New AC for $1250! Killer deal :)

  • Realtor · Cleveland, OH · Member since 2015 · 2k+ posts · 857 votes
    5y

    SH!T Happens. This was out of your control but you just got to deal with it.

    $1250 is a nice offer, take it. Going through insurance pretty sure the deductible is going to be much higher

    The Agents have nothing to do with this, they did their duties that were outlined by the contract so why are you punishing them?

  • John MorganPro Member
    Rental Property Investor · Grand Prairie, TX · Member since 2018 · 2k+ posts · 2k+ votes
    5y

    @Miriam De Haro

    That was nice of the seller. Take up that offer!

  • Real Estate Agent · Southington, CT · Member since 2008 · 5k+ posts · 3k+ votes
    5y

    Tough pill to swallow for sure, but chalk this up to a learning lesson. If this is the worst thing that happens to you investing you will be ahead of the game. 

  • Real Estate Agent · Winston Salem, NC · Member since 2014 · 486 posts · 303 votes
    5y

    @Miriam De Haro yeah I liked what another poster said about getting a new unit for $1250 especially if it’s brand new. AC units are expensive nowadays. When we were in the process of renovating a home I had two stolen (not the best neighborhood) it was for upstairs and downstairs. It was a long process to get the money from the insurance company. The total job cost about $13k. Now we always put them in locked metal fences.

  • Joe SplitrockPro Member
    Moderator
    Rental Property Investor · Sioux Falls, SD · Member since 2015 · 9k+ posts · 18k+ votes
    5y

    @Miriam De Haro I always drive from the walk through straight to closing and straight from closing back to the property. I have heard stories of burst pipes, leaking water heaters, even all the coper stolen from a property. Even if it is occupied, never trust the person leaving to have property cleaned and vacated. It does sound like the seller is willing to work with you, which is good. What was the age of the AC unit? If it was a few years old, consider the value of the stolen one was less than replacement cost anyways. Your realtor has responsibility here too. No decent realtor would let that much time pass between walk through and closing without stepping back in to look at the property. There is no reason they couldn't pay part or all of the $1250 from their commissions. Now you are going to bad mouth this realtor to everyone you talk to. It is very short cited of the realtor to not help you.

    I have had a couple seller disputes and in both cases the seller paid about half the cost of the undisclosed problem.

    One recommendation I would make is to install an AC cage to prevent future theft. If it happened once, the new unit will be an even bigger target. You may also want to consider security cameras and NRA stickers on your window, haha.

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