Selling house: Who pays for repairs?

dutchcloggie

Hi,

I am selling my half of a property to the other owner. It is currently let out through an agent. I have been the one dealing with the agent so I know that the house needs a new boiler and a lot of electrical work as it is currently unsafe.

I have informed the co-owner of this and we agreed the works needs doing. Sad thing is that this will cost around £2500. So, my question is, am I legally bound to pay half of this cost, eventhough the house will be mine for only a couple more weeks (we are about to sign the Land registry things and transfer the money).

I guess the answer is yes because legally I am still 50% owner so should pay 50% of the costs. I am just sad because had this come to light in 2 weeks time, I would have saved money!

andy.m_2

Depends on what you negotiate...

Is the agreed market value based on the property now, or repaired?

Your answer, there lies.

JQ.

There's no legal liability to each other, only to the tenant. It's whatever you agree between yourselves.

dutchcloggie

The house was not valued. We simply agreed a price for it, a price she suggested and I was happy with. After we agreed the price, the letting agent contacted me (as I am the contact person landlord) with a list of things that needed doing in the house to bring it up to safety standards to be let out (this was unrelated to the sale as the agent does not know about this). So, still being the official 50% landlord, even if only for another 2/3 weeks, I just assumed I will have to pay for 50% of the work.

I guess that when we agreed the price, it was on the understanding that there were no major repairs outstanding. In fact, nothing was ever discussed in detail about the house. I said: I want to sell, she named a figure, I said: sounds good, let's do it. These problems have come to light after we agreed a price so I guess I need to pay half? I feel it is odd to say: you are about to give me a pile of money for my half of the house but I am not willing to share the repair costs...

Morally of course I feel that I am just unlucky and should pay 50% as the house is still mine for 50% but I feel no need to be Extra Nice if it is normal for the buying party to pay for these things.

Or I could take the cost of the repairs off the selling price but that still means I am paying (Sorry, I am a stingy student so trying to save money wherever I can)

R_P_W

well I guess they could refuse to proceed with the purchase? In which case you will still remain as the landlord point of conduct? And you have just said the electrics have been deemed 'unsafe' - so you will be liable to rectify anyway.