Seller Liability - I Was Lied to About Old HVAC
I closed on a property in late May sight unseen that will be my next rental property. It's #3 for me. The property was in need of a lot of updating and repair, and I was aware of most of its issues due to a home inspection. I dramatically under estimated repair costs and I think I have ended up with my first bad deal, but that's another story.
On top of this, during the inspection the HVAC was not working. I was told by my real estate agent that the sellers said the unit was only five years old and was working when the property was last occupied. They said they thought it was a problem with the older thermostat. I have this in writing via the text thread from my agent.
Fast forward to now, and I discovered that the unit was installed in 1997 and needs to be replaced. This adds $6000 to $7500 into an already blown budget that I was not expecting. The same installation company that installed the unit is still around-- I had them out at the property today and they said they made the seller aware in May of this year that the unit needed to be replaced.
What should I do, if anything at this point? Seasoned investors... what would you do? I am all the way across the country from my rentals-- I'm also not the type to seek retribution for small things but I was absolutely lied to and I'm kicking around the idea of doing something about it. Can I even do anything?
Thanks all. Hope everyone is having a better day than I am!