Advice re survey and re neg price on house

happycamper3

Hi, I have found our perfect house, was up for £135k and this past month has been reduced to £125k, I put in a offer last week, for the £120k, but had to go up to the full asking price.

Have just had the survey report done, and apart from the elecs being old, (so will need a full re-wire), and some minor damp in the kitchen, the house is sound.

This is a cash buy, now need to go back to estate agent and re-negotiate on the price, had a few estimates for a re-wire coming in at around £4,000.

Any advice please.

anselld

The requirement for a rewire was presumably obvious when you viewed so vendor may argue that the agreed price already takes account of that. Damp more likely to be an issue to negotiate on. Ultimately depends on how fair a price the £125k is.

G_M

£4000 is very expensive. Is this a 6 bed+ house?

And when you say " apart from the elecs being old, (so will need a full re-wire)" what do you mean? One does not follow froim the other necessarily. Did the surveyor (who of course is not an electrician anyway) actually say "The electrics are dangerous" or "It needs a re-wire", or just say "the electrics look old"???? Or have you got an NICEIC electrical report?

"Minor damp in the kitchen" could be a bit of condensation from cooking, or a blocked downpipe/gulley, or a breached dpc from a raised flower bed outside. Or it could genuinely be a failed dpc requiring some actual money spending. You can't reasonably negotiate unless you know the cause, and the solution.