Rookie advice needed please help!

[Janille Jackson]

Hi everyone seeking some advice. I made an offer on a multifamily that will be my primary residence. The market I am buying in hard to find 3 families and was out bit on my last offer. Found one I want signed contract, and waived inspection as part of offer. We just started attorney review and found out one of the boilers is over 20 years old. I have not provided a deposit as yet. The old boiler will I believe make it extreme difficult if not prevent me from getting homeowners insurance (didn’t know this). I will speak more to my attorney next week but also checking here if anyone has had that situation and if so can I still negotiate price? And if seller is unwilling to make repairs himself but willing to take price down to cover the cost how do I navigate the homeowners ins situation because I need that I think by closing date in 30 days?

Thanks for any advice in advance! No more waiving inspections for me.

[Joseph Guzzardi Jr]

@Janille Jackson I would find it hard to believe an insurance company would flat out deny coverage based on the age of the boiler, but I've seen stranger and more confusing things. Have an insurance broker shop for you, with that knowledge of the age of the boiler and that would be your best bet.