When I bought my house I learned from the former long-term renters (10 years in the place) that the air conditioner/heater was on it's last legs. The repairman had told them it wouldn't last another year, and this had been reported to the owner. But the owner hadn't lived in the house for a long time so wasn't obligated to divulge any of this. When I presented them with a hefty bill for repairs and upgrades they accepted my lower offer, and I convinced them that since I didn't want to pay for the new heat/ac out of my pocket, they agreed to give me back $7500 at closing. I financed the higher amount so I wouldn't have to take out a separate loan, but they gave that back to me and I turned it over to the heat pump contractor. It's a long term item for the house, so it made sense to finance this in that manner.

SRS