Trying to buy our first multifamily. 4 unit with a single octopus style furnace that has asbestos wrapped duct work. Our original offer included a credit to replace the furnace at a later date and a one year home warranty but our lender insisted that the furnace be done before close. The HVAC company that came out and gave us the quote backed out yesterday a week before they were supposed to start and I'm having difficulty finding anyone that can even come out to give us a quote in the time line needed. The seller needs to get the house closed before the end of the year for 1030 exchange and it looks like the only way that can happen is to switch lenders to find one that is willing to put the money in escrow to do the furnace later. I guess I have a few questions/concerns. Did the HVAC company back out because the quote they gave us is way to low and when we go to do it next year its going to be way more than the $16k we got a quote for? Two, is this going to burn bridges with the current lender as we have already paid the application fee, had the appraisal and been working with them on this for a few months now? Is there something I'm missing thats obvious to those with more experience? This is our first home/rental (house hacking) but we plan on building our portfolio from here so don't want to start by getting on anyone's bad side, the lender or the current seller who is an experienced investor in our area. Any suggestions or advice is greatly appreciated! Thanks!
