What's your take on this?
Owner of a property is having to short sale his house. He's insisting that he is taking his generator (not portable) and Rinnai tankless water heater which are both affixed to the house.
Q: The owner disclosed that the two pieces of equipment affixed to the house do not convey with the property. The buyer is insisting to write it up in the contract. Will the bank allow the seller to take it once they see it in the contract and in the MLS advertisement?
Harry is exactly right.....you don't have a contract until the buyer and seller agree, sign & initial all changes. He is also right in that the buyers loan may not fund without a water heater. I would check with the loan officer that signed the pre-qual letter before going too far.
Why not have the seller install a cheap, new water heater? That's just one day of work. Then sign the contract.
All the best,
This is "Real Estate 101". You work for the BUYER. If the Buyer is telling you their offer includes these items, then write it up that way and expect a counter or don't represent the Buyer. You already know you are getting either a counter regarding the two items or no response what-so-ever.
You might also want to notice your buyer that their loan may require a Water Heater to be installed prior to closing. If that's the case, based on what little we know, I would NOT suggest the Buyer pay for it as it may never close anyway.
If you wanth to continue to work with this Buyer, make sure you have additional properties to show them !
Best of luck,
Newport Beach CA
Do the two step.
1. the MLS can be changed.
2. Addendum between buyer and seller
Ask the buyer if he wants the house without the items?
Seller wants his stuff? he can keep it and the foreclosure that goes along with it.
Make short sales easy, If it looks like issues right off the bat move on to the next property.