Selling house with a broken boiler

BitterFruit

Hi all! I'm looking for advice for my boyfriend. His house is on the market but the boiler has recently stopped working. He has been quoted thousands to replace it, which is something neither of us can afford. Have any of you had experience of selling a home with a broken boiler? We have no idea whether it's better to fix it or just take some money off the asking price. Any advice/background would be really appreciated. Thanks

HouseBuyer77

Well at least it's summer

Thousands to repair sounds a bit steep (unless this is not a standard gas boiler). You can get a whole new boiler installed for under £2k (though depends upon how old the current system is). Do you know exactly what is wrong with it?

If you're tight for cash personally I'd get some quotes from a few local plumbers for replacement. Knock say half the cheapest quote off the price and go with that. Have a printed copy of the quote for replacment next to the boiler (or available from EA when asked for it) and make sure potential purchases know the boiler is broken when offering and that this been factored into the price.

Though it does depend upon your local area. If demand is high a broken boiler (which you know can be sorted for £x'000) won't put many people off. If demand is low and there's plenty for purchasers to choose from, they might give your place a pass.

ReadingTim

Priced right you can sell anything, but I suspect you'll probably have to drop the price by more than merely the price of a new boiler to entice a buyer - and its lack of operational status would probably be used as leverage for further price reductions / low offers even if you were upfront about the fact it doesn't work.

I'd therefore look at options yourself - loan / credit card etc, given he'll come into some money once the place is sold (unless he's in negative equity that is). Alternatively, are you sure it actually needs replacing, or merely repairing? I'd get a 2nd opinion on the thing if I were you....

BitterFruit

Exactly!! Thanks so much for your reply. From what he has told me, it sounds like the pipework isn't suitable for the new boilers they have now, so worst case, that means pulling up all his floors right back to the gas supply. So flooring will probably need to be taken up in two rooms and then replaced. Quite complicated!

I'm passing all of your guidance on to him thank you again!!

thesaint

If you do decide to take money off the asking price, then you need to make sure that this is clear.

If someone makes an offer, and says "I have taken off 2k for a new boiler", then you can state that this was factored in the price already.

BitterFruit

Thanks Tim, this is what I'm thinking too. It seems like a good idea to try and get some more quotes together, it sounds like it might be a complicated job but then again, that's just from one tradesman!

BitterFruit

I totally agree, that makes it very clear for all parties. Thanks for your help!

G_M

Whatever you say upfront about the boiler being broken, and the asking price reflecting that, you'll still get lower offers because "the boiler doesn't work."

It's human nature.

BitterFruit

This is what I'm thinking! It's a tough one to weigh up which will be the costlier option. I think we will get a number of quotes to see if they all agree if it'ss a complex job or not. Thanks

HouseBuyer77

Exactly!! Thanks so much for your reply. From what he has told me, it sounds like the pipework isn't suitable for the new boilers they have now, so worst case, that means pulling up all his floors right back to the gas supply. So flooring will probably need to be taken up in two rooms and then replaced. Quite complicated!

Ah that does complicate things. The standard diameter for a gas pipe for a boiler increased at some point. So if your system is sufficiently old it will require replacing which can add a fair amount of cost.

It may also put off potential buyers, moving in and living without hot water for a week or two isn't that bad (if they arrange things well they could get a new boiler installed and running within days or moving in). The actual boiler install isn't that distruptive.

If it requires taking up floors then you can't fully move in until it's done so you'll be in a half moved in house for a week or two until the work is sorted.

Though they may not have to take up floors, though could run the pipe next to the skirting or up near the ceiling, though obviously this can look a bit ugly.

I think G_M's right that everyone will ask for money off because of the boiler. So ignore by previous advice, don't drop price at all. Just say it's priced in anyway and provide the quote you have. Then they'll drop it to the price you would have offered in the first place based upon it

PeterLWilson

As a last resort, check out the governments green deal boiler replacement scheme, this is how it works:

1. The government fund the supply and fit of a new energy efficient boiler
2. The loan stays attached to the property so will not follow you when you move, instead the repayments will be claimed through the new residents energy bills, since the new boiler will very likely be far more efficient, the idea is that the savings offset the costs. Once its paid off, the new residents benefit from lower energy bills.

Downside is that it's likely to make your home much harder to sell, but may still be better than selling with a broken boiler.

Personally I would look for a small local "man in a van" local boiler repair company and get a second quote before doing anything else. Smaller one man companies are often much cheaper and also much fairer since they depend on their reputation for business. It's not unheard of for some companies to quote for replacement when repair is a cheap and viable alternative.