Hi, we are about to go under contract for a 8 unit building. The seller says the boiler is three years old but 1) the seller doesn't have manufacturer warranty or 2) he can't find the warranty information. Should we just wait for the inspection period to see the boiler condition? And make requests such as seller pay for home warranty, credit purchase price, or do the repairs based on the finding? Or should we negotiate something like "seller pay for any boiler repairs above $1000 in the first two years" into the contract first?
Thank you biggerpockets community!
Most sellers wouldn’t agree to any of that. There should be a serial number or date code on the boiler showing when it was manufactured to corroborate the 3-year timeframe. The manufacturer warranty will be based on that date.
If it works at time of inspection/closing, that’s typically the best you can hope for. The inspector should be able to tell you if it was installed properly and if it’s showing any early signs of wear.
Personally, I think home warranties aren’t worth it, regardless who pays for it.
I dont think you can get a warranty on a commercial property, though I could be wrong.
Join the Largest Real Estate Investing Community
Basic membership is free, forever.