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Updated over 7 years ago,

User Stats

4
Posts
1
Votes
Brian Watkins
  • Real Estate Investor
  • Fort Wayne, IN
1
Votes |
4
Posts

New property issues. Major repairs

Brian Watkins
  • Real Estate Investor
  • Fort Wayne, IN
Posted

Hello BP, Looking for a little advice.

I purchased  a quad-plex approximately 8 months ago and everything seemed fine but then stuff started to fall apart. It was a fixer upper but when 3 of the furnaces failed within the first 3 months I got concerned. After having three quotes from HVAC technicians they all said that the heat exchanges were cracked and the furnace needs to be replaced. I contacted the broker for the inspection paperwork that was supposed to be completed by the seller to find out that the broker closed on the property before ensuring that all the paperwork was completed.

Curious as to what kind of approach would others take on a matter like this?

I feel my options are limited to:

1. Hire a lawyer and take the seller to court for failing to complete the inspections required and agreed to. The seller did tell us that he had them inspected and just waiting for the report to come back but later admitted that he had not had anything inspected.

2. Fix and move on.

Thank you

Brian

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