paypal will refund most of your money though it is a tedious process,

what you have is not a mag drill , but a mag-annular cutter driver , they
tend to have much weaker magnets than say a Milwaukee or other brand mag
base drill

I would have the unit looked at by a tool repair shop before going further ,
very much possible it was hit with 240/250 volts , does the motor smell
burnt?

if it is bad , paypal will try to mediate the process and a settlement , do
not ship the item back until you have received a refund , also if you paid
with a credit card to paypal that would be the best choice before paypal