Buying A Home
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Our tech team has launched updates to The Nest today. As a result of these updates, members of the Nest Community will need to change their password in order to continue participating in the community. In addition, The Nest community member's avatars will be replaced with generic default avatars. If you wish to revert to your original avatar, you will need to re-upload it via The Nest.
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Note: This only affects The Nest's community members and will not affect members on The Bump or The Knot.
Is this fair?
My buyers requested a 1 year home warranty which I agreed to. After the inspection this week, the also requested a $2500 credit towards the purchase of a new HVAC system. The current system is old, but I have it serviced each season and have had no problems with it. They also had a list of other requests--like outlets placed in certain locations, trees trimmed, etc which I have no problem with. I am thinking of meeting them half way and crediting them $1250, but then pulling the home warranty. I feel like if i give them both, I am double covering the same item. Do you think my offer sounds reasonable?
Re: Is this fair?
The a/c unit replacement would not be fully covered by the home warranty (I can speak for AHS). Additionally, the home warranty covers so much more than the a/c unit.
It is totally up to you as to what you want to do as a seller. To me, it isn't worth quibbling about a $400 (or so) home warranty if it gets the home sold.
My Valentine Bookends (2~13~13, 2~15~09)
Since you already have covered the HVAC with the warranty I would tell them no on the credit. Since it is functioning properly and may continue to do so for many years in the future any upgrade should come out of their pocket.
The money for the HVAC is an upgrade and not a repair. I would decline it on the grounds that you are selling them a property with a functioning unit. When and how they replace it in the future will be up to them.
Ditto PP's. If its an upgrade say no. I would get the trees trimmed since that can lead to possible property damage. If the outlets are not required by the inspection (IE you need to move one out of the tub because thats against code) then I say let them do it. Thats part of being a homeowner and making the house yours.
I would have an HVAC technician come out and inspect the unit and possibly service it. Present the buyer with that information showing that even though it is a 15 year unit its working just fine.
I hate when people assume that an ac unit that is old is on its last legs. My parents still have the original (26 yo) trane ac unit and itsstill running strong. They don't get it serviced regularly and because of that have had a few parts go bad and need replacing. No where near needing a whole new unit.
It's not about fair, it's about what gets the house sold.
That said, the first buyer on our house wanted a new HVAC. Like you, it functioned and we'd had it maintenanced twice a year, and we gave the maintenance records out with other sales materials on the house. We told her now, and she got an out later when her appraiser screwed up and used incorrect figures for comps, resulting in a low appraisal. Like seriously low - the next appraisal was something like 10% higher.
We refused to replace a working AC and would have let the contract fall through over it. However, our mortgage was very small and we knew the house would sell fairly quickly. We'd already bought the new house and weren't desperate to sell that one. We got another buyer a couple weeks later.
That is so true! If your home has been on the market for months and this is the closest you have gotten to a contract, you have to take that into consideration. "Carrying costs" are certainly a factor.
My Valentine Bookends (2~13~13, 2~15~09)