Insurance won’t insure cause of HVACs
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?
Most Popular Reply
@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.