Furnace Inspection Issue on Inspection

[Rob Bowness]

I am in attorney review for my first single family, bank owned, investment property. I attempted to have the furnace inspected yesterday. My HVAC guy noticed prior to even attempting to run air though the state that the pipes connected to the furnace were disconnected due to not being properly winterized. He also saw multiple holes in a few areas in the baseboard heating. We obviously were unable to check the functionality of the furnace or the water. He said that he felt strongly that the furnace would need to be replaced. One cool thing was that he didn’t charge me anything but he wrote me up a quote of 13k. He stated it may not cost that but won’t know for sure. I am asking the bank to take money off the selling price. I did not budget to replace the heating system and the deal won’t work for me if that is necessary. If anyone has experience with this or having the bank work on the price I’d greatly appreciate any knowledge. I already have close to a grand invested and time. Thank you.

[Michael Noto]

When you purchase a foreclosure I would probably always account for replacement of the furnace because 99 times out of 100 the bank winterizes these properties and even if the furnace looks "newer" you will not know if it is functional until after you close.  Also, does $13k sound expensive to anyone else? How big is the house?