We have an offer on an investment house that we are selling. The buyers have commissioned a building inspection report, at which time the inspector told them that the HWS system was leaking (this is not mentioned in their written report). The special conditions on the O & A state that all plumbing must be in working order. The hot water system is in working order. Do we need to fix the leak or replace the HWS. If the leak cannot be fixed (Solar HWS is very old), do we need to replace it?
I guess the first question I have is if the hot water system is leaking why was it not mentioned in the inspectors' report. I am not a lawyer but I would have thought if there was an issue that needs to be rectified it should be in writing and included in the building inspection report. Did the inspector really say it was leaking or are the buyers just looking for a new system?
However, there may be another way to look at the situation. If you consider the offer they’ve made is it more, less or exactly what you were hoping to sell for?
If you’re able to establish the cost of replacing the system you can then weigh up the pros and cons of doing so based on how it impacts the sale price, the net return and your willingness to continue the sales process and find another buyer.
I hope this helps with the thought process
Best of luck