4-Plex Advice

[CalvinTruong]

Hi there, I am looking at bi-level 4-plex built in 70s in Edmonton. The wiring is aluminum. Initially, the insurance company doesn't want to insure and insist on having it replace. They change their mind afterward and are ok to insure it for now. But I am worry it may be an issue down the road. I am wondering if anyone have come across this before and how you deal with it? What is the cost to replace?

The 4-plex has boiler furnace, which I don't have much knowledge about. I assume it is original. This potentially will be an expense in the future. Does anyone know the cost to replace the furnace?

Does anyone know a GOOD inspector in Edmonton with good knowledge on boiler & 4-plex in general?

Thanks for your help in advance!

Calvin

 

[Marnie]

Hi Calvin, I used Excel Building Inspection and Consulting when I purchased a multi-family building in Edmonton. I found them to be very experienced and knowledgeable and could certainly help you with your questions if you choose to work with them.

 

[adriano]

Boilers are quite pricey to replace. I would get it inspected before buying. Also if the insurance company reacted the way you said I would be concerned that they may not insure you down the road without replacing the wiring. I would get a quote

 

[CalvinTruong]

Marnie,
I will look into the inspection company.

Adriano,
I definitely get inspector to inspect the boiler. The thing got me worry is that this industry is not regulated. I saw few posts on this forum about incompetent inspectors who fails at discover costly item and investor end up with a hefty bill after owning the property. That is why I post the question here asking for referral of COMPETENT inspectors. For the aluminum wiring, I already plan to obtain the quote from an electrician.

Thank you both for your responses!

 

[ChrisDavies]

One nice thing about boilers compared to furnaces - I've often seen boilers last 40-60 years with reasonable efficiency and some even older. Not that often you see a furnace last that long.

 

[Thomas Beyer]

What's the difference between a boiler and a furnace ? They are the same to me, namely a device to heat water for heating a property - distinctly different from a hot water tank that is used for hot water in showers, taps, laundry machines or a bath tub.

And yes we too have used Eldon of Excel inspection many times.

 

[CalvinTruong]

Davies & Thomas, thanks for your comments! It is comforting to hear 2nd recommendation on Excel inspection.