Heat Pumps and Electric Heating - guys im new....please help me out

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elohim
02-17-09, 02:23 PM
found a home thats forclosed...
owner left and took his heat pump system....
bank want a appraisal before going forward....
appraisal guy said they could do it..but..before closing the bank is gonna want the pump installed and working before hand..

wtf :wall:

1.
is there a way around this
2.
the house was built in 2005 by LTS and its 4000 sqft..how much does it cost to install a system the vents are all in place..
3.
why would i install something ina house if i theoretically dont own it yet...

Gunguy45
02-17-09, 02:30 PM
I think there may be miscommunication somewhere? I don't think you legally CAN install it in a house you don't own.

Is it your bank that wants it? Thats understandable. If its the selling bank..it's their problem, but they may not want to pay for it. You may have to pay for it during closing or similar.

May not have been the old owner either..empty houses are prime for metal thieves. Although..they must be pretty stupid..I think they assume there is copper in there.

As to cost...maybe some of the pro's could advise....
airman.1994
02-17-09, 04:46 PM
Yes lots of copper in them! But copper has dropped in price allot the last 60 days or so. They say because nobody is bying any the price has come way down. We could only give you a ball park. How many square feet and were in the country are you.

Gunguy45
02-17-09, 04:58 PM
Copper? i though most were aluminum now...?

Sorry..off subject.
dac122
02-18-09, 06:49 AM
found a home thats forclosed...
owner left and took his heat pump system....
bank want a appraisal before going forward....
appraisal guy said they could do it..but..before closing the bank is gonna want the pump installed and working before hand..

wtf :wall:

1.
is there a way around this
3.
why would i install something ina house if i theoretically dont own it yet...

I have heard banks/mortgage lenders wanting all sorts of things fixed, from railings to roofs. So wanting some kind of heat in the place before closing makes sense.

I would suggest you consult with someone (lawyer) that is familiar with your state and banks lending requirements and these types of sales. You definitely want to protect your interest from dumping money into a house that is not yours. What if the sale does not go through?