Post inspection "bids"

[Colte Utley]

Hello! I am a new investor and I can not find a specific answer to my scenario in any of the forums. Here is my scenario, I have negotiated a contract on a bank owned property. I had my inspection today, the report details that the inspector could not get the heating system to turn on via the thermostat . He was able to get the air condition to run but when changing to heat the system would not do anything. He also could not get the fan to come on by itself either. So, at this point, I have to assume the heating system does not work until proven otherwise. The seller (the bank) is not going to do any research to determine if it really does work and only needs something minor. How can I get a bid for something when do not know what is wrong with it? Sure, I can call out a HVAC company to diagnose Aka repair the unit to see what it needs. Is that my responsibility to foot the bill for the investigation? What would you do? My gut wants me to get a bid for a new system and ask for reduction in the price. Any thoughts?

[Colte Utley]

Well, I decided to add to my inspection budget and have a company out to asses the problem. It was too hot in the attic to diagnose today so they are coming back out tomorrow morning to check again. The tech said that it could be a $100 fix or we could have to replace the furnace which could cost around $3500. I will be glad to know either way.