TL;DR: I’m under contract and about to go into an inspection period with a 16+ year old HVAC that the sellers didn’t disclose until after the contract went through. After that point they tell me that they are selling the place “as is” and will not fix any issues found in the inspection. Should I back out after the inspection? I likely can’t take on the cost of replacing the HVAC, even though I will get the 1-yr home warranty.
Hello all! First time homebuyer here. I just went under contract with my first townhouse, and I’m starting to get second thoughts. Over the course of the last few days, from going under contract, to having it accepted, I’ve learned things about the unit that wasn’t disclosed to me by my agent from the seller.
The red flags began when we were in negotiations over the 1-year home warranty – an offer that was on the table when I placed my initial offer in. They had briefly mentioned something about the HVAC unit, and they agreed to pay for a warranty. But, when counter offers came through, and I no longer wanted to pay them $10k+ in cash, they took away that part of the bargain and said I would have to pay the warranty.
Dummy me inevitably ended up accepting their terms and my agent said she would cover the costs of home warranty. At this point the sellers disclose that the AC unit is 16+ years old and will likely need to be looked at, but they will not replace it since they are deciding to sell the townhouse “as is.” This ended up being a cause for concern as this was a rental unit that the sellers managed.
I’m just a little flustered as I don’t feel like now my agent is on my side, as she just wants a sale now. And she doesn’t feel like we should take anything to the sellers to fix after the inspection process.
So should I back out of this deal or try to see it through? Also, does anyone know of any instances where the warranty will NOT cover the costs of an HVAC replacement?