first time buyer needing advice

only1-mike

ok then in august i put an offer on a house which was excepted, then i contacted my solicitor who started doing searches. i then contacted bank as had mortgage in principle so had searches done, they came back saying the house needs a re wire, new central heating as currently got a 1960`s back boiler and also cavity walls ties checking. now the survey has flagged these points up should i contact estate agent to renagotiate the price with the vendor. say if the work will cost £5000 i meet them in middle

any advice appreciated

many thanks

thescouselander

Yes, you should definately try to renegotiate the price but try and knock off the full amount equivelent to the cost of the work needed. If that doesn't work then move towards meeting them half way.

jamminjamaica

yes get a couple of quotes for the work that needs done. i would then contact the estate agent and negotiate the cost of the repairs alteration off the asking price. dont mention that you are willing to meet them half way. after all they are trying to sell the house to you.

only1-mike

thank you both for the help i thought it might make the vendor put the house back on the market and me down on the purchase.

sarah_elton

Your seller has presumably instructed solicitors too. It'll cost them money and time to lose you and start from scratch. Ask for the full amount off - the worst that can happen is they say no and you ask for a bit less off. They won't turn around and say no and we never want to hear from you again. Unless they're very strange, in which case you probably don't want to deal with them anyway.

Just one thought though - sounds like the place must be pretty dated. Compared to other similar properties, was the fact it needed updating reflected in the price? If so, they may be less willing to lower it.

Also, I'm not sure about what work is involved in doing a re-wire. I.e. beyond the electrician doing it, does it mess up your decorating etc? Someone else on here will be able to advise on that. You may want to consider both the cost and hassle involved.