do not know whats going on.

seek_2

i have a buyer for my house i accepted the offer the survey has been done and came back fine no retention they got there mortgage offer in the solicitors and search beening done now.

my house is a 50 year old house and the survey does say things like look at the eletrics once moved in. i know what this is we had a a new bathroom fitted out with shower and there is a wire from the elecy box going up to the bathroom it just has not been boxed off.

that is it nothin else is wrong with the house yet the buyer has turned around to my EA and said he is not going to sign anythin till he has a electian in the house to look at all the wiring :S

do you think he is going to try and get money knocked off even tho the house was priced at £118,500 and i took the offer of £105,000 as i know it need decorating.

plus if the survey says yes nothin is wrong with it and he have mortgage offer why is he doing this?

robwend

prob because if the house needed re wiring its £3000 plus. not saying that it does, its just that all surveys says get electrics tested, being that the new law states all electrics have to be with a registered lecky and have paperwork to prove it hes covering his back, as lots of people say buying a house is the biggest purchase yourl make and best to be safe than sorry, put shoes on other foot

seek_2

so all surveys say this?

ahhhhh thx for the info

i know i my house does not need re wiring so he is ok with that but it is takign so much time to sort out it been one week now and he has not sorted out the fella to come round and look at it :S

lilyann1

Our survey came back and said get electrics checked before exchange!!!
We have opted not to as the vendor told us at the time that the survey may show electrics need checking, as all surveys say this as surveyors are not electricians.
The vendor told us that the house is 50 years old and it would need updating in the future and the offer we had accepted reflected this.
We had many other things on the survey report,saying check drainage and check gas etc but we want the house so are just going for it and doing it when we move in.Some people are cautious and will do it before exchange.
I think this buyer has already put in a low offer so should not ask to go lower.It has been said a whole rewiring costs about £3k,so you could get it done yourself and then sell the property for more!!!
All solicitors in their additional enquiries ask for things like guarantees and certificates on the electricity and gas,so it if came to it,you could get an electrical check done for about £75 yourself ,and they could tell you if the elcetrics were ok or not.You can produce this certificate to potential buyers.

Debt_Free_Chick

seek wrote:

do you think he is going to try and get money knocked off even tho the house was priced at £118,500 and i took the offer of £105,000 as i know it need decorating.

Let him get the electrics checked - that's what we'd normally say to any buyer who posts here.

However, if he tries to negotiate a lower price, simply tell him (and your EA) that the price reduction of £13,500 :eek: reflects the work that needs to be done. Don't say it's for decorating and don't give in to a list of things the reduction includes - simply say that the reduction takes into account the fact that work is needed to the house.

Of course, if you're desperate to sell, you may have to give in.

Is it priced about right now, do you think?

seek_2

the story is my nan gave me the house so i could move on to bigger better things.

yes the house is way below what they sell for in my area i could afford for a quick sell reason why i took the £105,000 offer i can still get the house i really want that is £163,995.

if i done all the stuff on the house myself i could sell it for about £120,000 in my area that is how much they go for this is the reason why am so confused the buyers are getting a bargain of a life time in the first year they will easy make £20k+ on the house.

robwend

seek wrote:

so all surveys say this?

ahhhhh thx for the info

yes all surveys say that, its part and parcel of a survey xxxx

lowis

i just got my survey back and its says check electrics, pipework, gas etc etc due to age of property (50 years old). standard stuff. i think you need to worry if it points out something specific i.e. exposed asbestos, lead pipes, damp, rot etc

Jorgan_2

seek wrote:

if i done all the stuff on the house myself i could sell it for about £120,000 in my area that is how much they go for this is the reason why am so confused the buyers are getting a bargain of a life time in the first year they will easy make £20k+ on the house.

As a rule of thumb, people will always want more of the price than the actual cost involved in doing the work.

The majority of properties I sell are no more than 25 years old & we are starting to electrical reports being recommended on many of these now. Its going to be a standard clause on a survey for a property of your age.

Why not get your own electrical test carried out, if any problems arise, get a quote for the required work, that way, you will be prepared for whatever the buyer comes back with.

annie-c

Just an opinion from someone 'on the other side'....

My survey said to get the electrics checked, so I did - it only cost £30 for an inspection which indicated a need for a complete re-wiring costing £2800.

Even though I had already bartered the house price down to cover re-decoration, I still asked the vendor to drop by the cost of the re-wiring as I simply couldn't have afforded to have the work done myself. They were not happy, but when presented with the electrician's report they decided to knock the £2800 off the house price in order to proceed.

I didn't do this to upset them or get one over on them - I just followed advice from a conveyancing friend and researched very carefully before making the biggest purchase of my life!!!

The actual cost of the re-wiring far exceeded £2800 anyway. I spent a month of hell having my floorboard and walls chiselled to death and then had to pay for re-plastering in the rooms that I didn't want to see ugly tracking everywhere - so I think the 'cost' was shared out fairly in the end....