Bought an old multifamily last month that passed the inspection with flying colors. I mean, as with all houses, there were a few things here and there that needed to be fixed, but nothing major. It was my first purchase, and I had no idea I needed to inspect the plumbing separately. Everything seemed to be working fine.
This week, the tenant tells me the sink and bath are clogged. I bring a plumber in, he unsuccessfully tries to snake it, then tells me this is really bad, the house needs repiping. It will cost anywhere from a few thousand to $10,000. They won't know til they're in there.
Tenant later tells me the previous owner knew of this and brought a handyman 3 different times but didn't solve the issue. They would temporarily get the drains to work and then the issue would pop up again. Tenant said the handyman told the owner the situation is really bad and needs a lot of work to actually fix.
I'm glad I have emergency savings for this but I had no idea I would have to tap into it so quickly. I feel like I made a huge mistake. My lawyer said the seller was legally supposed to tell me and if I had proof that he knew about these issues I could sue. But I don't.
Has anyone else been in a similar situation? It really freaking sucks, and I kind of feel like an idiot. Trying to look at the brightside, I learned a lesson, but who knows what else will pop up.
