We have a duplex with an ancient AC system.

that is never true with any seller - it doesnt mean they will defraud you but that simply is not true ans should not be true.even if there is legal redress - that is expensive to prohibitavely expensive and it usually cannot be put into the numbers ahead of time.... as others have said - it is a terrible thing that happened and there are plenty of other places that have unscrupulous people but that is just part of today's landscape - and why an ancient phrase - caveat emptor - was coined.

It may not have been a recent murder, it could be an ancient Indian burial ground or the portal to hell like in the Amityville Horror.

At the time, everyone thought I was crazy, but I was convinced that something so corrupt and such an obvious Ponzi scheme as the Greek economy was never going to make it.I was angry and I was bitter in those years. 

We aren't talking ancient practices either.This is the South we are talking about... again this is just for educational purposes and not to incite a riot but what would possess a man and move him to even think like this?

I also use that money to be proactive and replace ancient furnaces or put a new roof on a house that becoming obvious that needs attention. 

***OUT OF DATE INFO**I know this thread is ancient and dead, but it was also a page one hit on Google for my search.

I think the 360 day Banker's Year was actually created by the ancient Romans.

(or is it an "ancient chinese secret...lol)

The house was an REO and I had the old air handler replaced with a new Goodman when I bought it, because the old one was ancient.