Negotiating house price with work that needs doing

jessicalauren

Hey guys, so I’m buying a new property, originally for 119,950. Basically it needs a full rewire, a new roof and some small damp courses doing. We have negotiated down to 112,000 but I don’t know whether to drop the price and pay out myself or get the full mortgage still and get the work done between exchange and contracts. The electrician has quoted 5600 for a full rewire of a 2 bed mid terrace house with no replastering in the north west and 1000 for a new wireless burglar alarm. This feels like a lot... am I being ripped off?

diggingdude

can't comment on prices but get it done after completion, the seller is unlikely to want where they are living being ripped to pieces. What did the survey value the house at?

Davesnave

You won't get a rewire done between exchange and completion because any sane seller would tell you to do one if you suggested it.

£5600 is about what I paid  for a much larger house, done in stages a couple of years ago, so I think it's too high. £4k would be my target figure for a fairly standard rewire on a 2 bed.

lees80

Whereabouts in the North West? I've been quoted under £3k for a full rewire of a 3 bed semi, also no plastering. (Wirral). 

New roof will be around the 5k mark. 
Unlikely you'll get the work done before you move in. I wouldn't agree to a rewire and new roof being done whilst I still lived in a house that I was selling - the rewire alone will be massively disruptive and messy.