House is bank owned, wires clipped from electrical box, missing copper pipes from furnaceand the furnace could possibly be missing as well.We are looking to buy this house. It is QUITE CHEAP but we are looking at what it could possibly cost to repair all of this.1. How much does a furnace cost (about 1800 sq ft house)2. How much does it cost for the copper piping that is missing from the furnace?3. How hard and is it costly to fix the clipped wires from the electrical box?Everything else in the house is great, it's just that stuff. I know a bank will not approve a loan if the furnace is missing along with the copper pipes and the wires clipped at the electrical box.How much am I looking at out of pocket for this house before we can even move in? We live in PA and aren't sure what the laws/regulations are. ANYTHING would help us.Thank you!
by the time you are done you are going to spend about 10k. why are you even thinking about this? the bank should be fixing it, not you.
Talk to a realtor and a real estate attorney. Your questions are not one size fit all and you sound very inexperienced with real estate.
Offer the bank 1/4 of what they are asking since this is a fixer upper and you will need a construction loan to do the repairs. If they go for that offer then you can afford to have it fixed. The wiring will need to replaced and possibly brought up to current codes which means grounded wiring through out and to do this the walls will need to be exposed and new wire run throughout each circuit. Also arc fault breakers are now required by the NEC. After the walls are opened for the repairs they must next be repaired and that also takes skill and money. Good luck.
Wire loss does not sound like it would have even been worth considering as it soon goes into walls., so not a long piece if I were considering on taking it. I think they did more work than what it was worth.HOWEVER: a certified electrician must do the work and sign off on the job as it normally needs to be inspected to be sure the electrician did the job correctly. This protects you. So you can get fire insurance from insurance company. iF the house were to catch on fire, the insurance company is one of the first ones on the property after the fire and they will search for a point of ignition. If it is in the wiring that is not certified (oh yeah, they will have records) it gives them the right to refuse payment. Furnace goes the same way generally speaking. If the furnace is missing then you can start with a new system entirely such as forced air heating system. Furnaces are going to cost about the same no matter which system you buy. You will need tin bashers to evaluate whether they can install the systemor just a heating contractor to evaluate and judge which is easier to install (the old system or go with a different system) He should be able to give you an approximate cost for it and time period. So, the only difference is who hires the contractor the bank or you Furnace is needed because you do not want the plumbing that has water inside to FREEZE. That can crack porcelain or split metal pipe or plumbing joints are broken open in the walls. Now, that is a mess. I would not want that to happen and spot heaters just does not cover the whole house especially iF you are in an area that Freezes. Most likely the bank would consider the hiring of the repair contractor for you MAY be the only buyer interested.
a furnace and isntallation could be about $5k. (just had this done) electrical is'nt trribly hard or expensive (also done some of ths in a recent remodel)
