I am purchasing a property and have come to find out that the info in the property condition disclosure statement is incorrect. The seller has the HVAC system listed at 6 years old, and I have found out that it is 18 years old. I informed the realtor and she said the seller said he mistakenly wrote 6 years on the outside unit, but the inside unit was 6 years old. Well, I went in the attic, got the serial number and checked the age of that unit. It also is 18 years old. The seller does not want to negotiate, because we agreed to a price below what he had listed and I already will have equity in the house. Had I known the HVAC system was as old as it is, I would not have agreed to the price we agreed to. I am wondering if I have any legal action I can take with this, since the seller pretty much falsified the PCDS.
Probably not...disclosures are based on an owner’s knowledge or recollection. You can of course cancel the contract, assuming you are still in your inspection period. Also, it’s kind of fruitless to “take legal action” for $3-$4k.
THe inpsection and your investigations are your due diligence with which you can negotiate repairs, or new price. If the AC still works, and the seller wont negotiate price, you may be able to back out, if the deal isn't strong enough for you. No legal action here, you are just in the investigation phase. If owner thought it was 6 yrs, and you can't prove he was trying to scam you, there is no lawsuit here. Goood job on assessing the age on your own .
Hopefully the deal is still worth it to you. I had an AC unit last 37 years, and a water heater24 (then I switched both out before they died for good)
Thanks for the info! The deal is still good enough to continue with. I am just new to this game and wanted as much info as I could gather before moving forward.
It don't think you would have a legal case for the disclosure since it's not flagrant and the seller can just say he was going off his recollection and was wrong. It would also take a lot of time and money to go after it. (Of course, I'm not an attorney, so there's that.) I would just demand a retrade. A seller can say they won't negotiate, but that doesn't mean they won't especially since I'm sure the seller doesn't want the property to fall out of contract.