- Joined
- Dec 5, 2007
- Messages
- 2,880
Hi,
Are there cases where the new buyer of a property MUST continue an existing hot water tank rental agreement?
Is this usually negotiable or not?
They want me to continue paying $20 a month - $240 a year for a tank that costs $750 including warranty if I buy a new one at home depot(!)
Not a lot of money but still a "rip-off" copared to its cost and does not make any sense financially to rent.
I already signed an "assignment agreement" as my lawyer asked that I do that as part of the purchase. Later, he said something like "it is only valid for one month". - is this true, do i have the right to change that and decide i do not want to rent it for the next 8 years as shown in the contract?
I`m asking this regarding this property but more important your answer will help prevent such mistakes by other investors and me in future purchases.
THANKS!
Neil
Are there cases where the new buyer of a property MUST continue an existing hot water tank rental agreement?
Is this usually negotiable or not?
They want me to continue paying $20 a month - $240 a year for a tank that costs $750 including warranty if I buy a new one at home depot(!)
Not a lot of money but still a "rip-off" copared to its cost and does not make any sense financially to rent.
I already signed an "assignment agreement" as my lawyer asked that I do that as part of the purchase. Later, he said something like "it is only valid for one month". - is this true, do i have the right to change that and decide i do not want to rent it for the next 8 years as shown in the contract?
I`m asking this regarding this property but more important your answer will help prevent such mistakes by other investors and me in future purchases.
THANKS!
Neil