Buyer holding me hostage on house sale

Grumpy_chap

Surely, the OP does not want to get involved in a re-wire as this is then likely to mean a complete redecoration as well.  Maybe that is what the "buyer" is hankering after.

At most, the OP may consider a reduction in price to reflect the electrical work but definitely not without seeing the RICS surveyor report.  A report from an electrician cannot necessarily be seen as independent.  Definitely not for the OP to pay the full cost, which includes "improvements".  What next from the "buyer" - I can still go ahead but can you put a conservatory on at your cost first please?

Davidoffash

many thanks for the responses. I tried to negotiate but he has point blank refused saying he does not want to change his mortgage offer nor does he wish to meet half way with the repairs. I cant get any work done before hand not that I would as I simply do not have the funds to do so. My solicitor is refusing to hold any monies on completion and says he must declare this as an allowance but again he refuses to do so. And if I put the house back on the market I still have to pay for my solicitors work to date. New it was not going to be stress free but not like this 😂

m0bov

Your being stitched up, he would need to amend the offer if he wants a reduction and no way should you re wire a house for someone else. Your being mugged off.

RelievedSheff

I would be remarketing the house right now.

Davidoffash

RelievedSheff said:

I would be remarketing the house right now.

That may be my only option for my own sanity 

Davidoffash

m0bov said:

Your being stitched up, he would need to amend the offer if he wants a reduction and no way should you re wire a house for someone else. Your being mugged off.

Thats what I feel too.  Sometimes it helps to get others input on the matter. He won't amend the offer as he says he cant afford to get the work done. 

Doozergirl

Davidoffash said:

m0bov said:

Your being stitched up, he would need to amend the offer if he wants a reduction and no way should you re wire a house for someone else. Your being mugged off.

Thats what I feel too.  Sometimes it helps to get others input on the matter. He won't amend the offer as he says he cant afford to get the work done. 

Then he can't afford the house, let alone new decking lights paid for by you.  

You cannot be rewiring a house for a buyer if that wasn't your intention.  It's an unreasonable request.  

AdrianC

Davidoffash said:

many thanks for the responses. I tried to negotiate but he has point blank refused saying he does not want to change his mortgage offer nor does he wish to meet half way with the repairs. I cant get any work done before hand not that I would as I simply do not have the funds to do so. My solicitor is refusing to hold any monies on completion and says he must declare this as an allowance but again he refuses to do so. And if I put the house back on the market I still have to pay for my solicitors work to date. New it was not going to be stress free but not like this 😂

It is a very simple four-way choice.

1. You get work done before sale, to a mutually agreeable compromise.
2. The sale price is reduced, to a mutually agreeable compromise.
3. He gives his head a wobble, and drops the whole thing.
4. The sale is off.

None of these is free of cost to either or both of you. 4 is the maximum hassle, and potentially the maximum cost, but the default position in the event of an inability to come to an agreement on the first three.

Has he actually given you a copy of his electrical report?
Have you commissioned one yourself?

Falafels

Doozergirl said:

Davidoffash said:

m0bov said:

Your being stitched up, he would need to amend the offer if he wants a reduction and no way should you re wire a house for someone else. Your being mugged off.

Thats what I feel too.  Sometimes it helps to get others input on the matter. He won't amend the offer as he says he cant afford to get the work done. 

Then he can't afford the house.

This ^^^. 
Talk to your solicitor about their fee, too. While there will be something due because of the work they've done so far, it may be that you settle up the entire bill on completion. 

You don't say which part of the country you're from, but is your local market really so desperate that you can't afford to walk away from this guy, get an EICR for yourself, and put it back up for sale?

blue_max_3

I'd also agree with the sentiment. Put it back on the market and stop communicating with the 'buyer'. Cut your losses now and you may actually get a better offer soon.