K. Allison: I'm sorry that you were sort of lead down the garden path, as it were. In point of fact, ANY contract negotiation will contains a lot of "give and take." In this case, the seller blustered his way into getting you to accept the condition of the building. You could have got him to fix the problem or walked away
I do sell properties badly in need of repairs all the time when I represent a repossessor. They rarely fix anything and it's quite all right because the buyer understands this is exactly where he/she stands and usually knows the cost of the fixes (at least in broad terms.) If you did not have your own buyer's agent, the seller's agent or disclosed dual agent was only doing his/her job by telling you what the seller wished to give you in the sale. I don't think that that is a "dirty little secret." Brand new construction is usually sold with the builder's guarantees. Resales are ALL as-is, excepting for agreed upon repairs. If you had a buyer's agent they should have told you that you could at least ask the seller to fix the electric. but in the ultimate, it was your decision to buy the place with at least a cloud over it that you had discovered. I do note that you were indeed aware that something was up. The best way for you to have handled it was for you to get a good estimate of the work needed before you invested in such a major purchase.
There is an issue of what kind of CO was obtained and what was the staus of the construction permit. That might add weight to your arument that you are owed something. Don't expect that city hall will gladly admit that they allowed substandard housing to be sold though, that might take a bit of prying, as in pulling teeth out kind of prying.
At this point, this being a legal issue of who shot John and when and where and the party of the first part etc., etc. and realtors not being licensed to advise on legal matters, there is little we can offer.
While Mr. Ma seems to have some secret information that he will not share with all of us, you may wish to see how valuable it is. Still, unless he is either a licensed engineer or electrician or an attorney, I donâ€™t see how he can offer much. I know that, even if I were licensed in any of these fields, I'd say nothing without reviewing the physical situation and the exact wording of the contract and the reports you received.
Please keep in mind that most Realtors are hired to represent a client and that they are not, unless dual agents, even allowed to represent the other side. This, of course does not mean that they are allowed to participate in criminal activity or fraud.
Again, best of luck.