I have an awesome deal on 4 units in north florida that’s supposed to close tomorrow.

Seller financing, 13% down.

However we just got word from the insurance company that they want us to change all 4 HVACs in the first 30 days in order to insure it.

They’re all 20 years old and one is 34 yrs old but still fully functional.

Obviously this throws a huge monkey wrench in the deal.

I’m not sure the seller will budge anymore because of how favorable the terms are already.

Are there any options to still get this insured? Anyone else in florida or tallahassee area dealt with anything similar & found a work around?

@JR Rivas Do the properties have insurance right now thru the seller? Because as a temp solution, you could always be added as an "additional insured" on that policy from the seller. That'll then give you time to call agents in your area to get new coverage ASAP thru a different insurance carrier.

Yes they do! Thanks @Rene Owczarski We'll try this. 

@JR Rivas You're welcome, and good luck in your search.

Have you gotten quotes from other carriers? I've been zinged over roofs before but never for A/C's.

Shop around. I'm sure you can find a carrier to cover the property 

Just wanted to mention another insurance doozy that came up recently. Due to so much fraud from roofers and so many hurricanes/natural disasters recently in FL companies are tightening requirements to be covered, reducing coverage, and increasing rates. Most rates are going up by 20-30% and on top of that to get water coverage the plumbing has to be 10-15 years old!! I asked them what you were supposed to do about drain pipes from sinks etc b/c those require demo'ing the flooring/slab to install new and it's insanely expensive. They said to get water coverage plumbing has to be within 15 years. Now this was only one agent I was speaking with but considering this is the case across the board this could total change the amount of risk an investor is taking on. It would mean any house built before 2006 would not have any water coverage unless you spend 10k+ replacing perfectly functional piping. Regardless everyone needs to be aware that insurance is having some big changes coming up and expect rates to keep increasing and coverage to be reduced.