Hot Water Tank - Rented or Owned?
Wednesday Aug 25th, 2021
ShareWhen making an Offer to purchase a home, the Buyer agrees to assume all rental contracts. It is important to confirm what items are included and the monthly rental amounts + tax. It is not uncommon for the Hot Water Tank to be a rental, but the age of that Hot Water Tank can impact a new homeowner’s ability to acquire insurance. If the rental Hot Water Tank is older than 15 years, the Buyer may request the Seller have a new one installed prior to closing, in order to be... [read more]