Buyer holding me hostage on house sale

TripleH

Some points to consider: 
1. Yes you've paid your solicitor for work but they will have a nice wad of paperwork ready to send to the next buyer so you won't have all that to do.
2. If the prospective buyer refuses to let you see their report then they may well be trying it on.
3. Call their bluff and ask to see the other quotes he obtained.  "Only one quote, sorry I need 3"
4. Relist the property, tell the buyer that but that if he pulls his finger out his bum you'll still complete with him
In my limited experience there are some FTB's particularly those who've rented who expect to move into a perfect home and that everything should be working 100%.
Also as mentioned earlier some people assume bum covering by professionals is fact rather than worst case scenario. 

Jeepers_Creepers

There will obviously be an element of gamble in whatever decision you make, and there's nothing you can do about the outcomes of each (unless you simply capitulate!). 

As said repeatedly above, you need your own electrical survey(s) and quotes for what's actually needed. If it turns out that the wiring is 'stranded' and the insulation crumbling (extremely unlikely), then - fair do's - the house does need a desperate and full rewire. Yes, that should include interlinked smokies (a relatively small extra addition) but absolutely no decking lights or other luxuries on a house of your value - these won't make a jot of difference should you need to have this work carried out yourself and remarket the house. A rewire, tho', will help its sellability a bit - one less thing for the buyer to worry about, and a good indication that the house has been maintained (I'd find it reassuring). 

Armed with what I suspect will be a much reduced quote - say for replacing the CU, adding smokies, a bit of earth-bonding - of probably half the buyer's quote, you might then wish to go 'halves' with him to ease things along. If he says he doesn't want the hassle of amending his mortgage arrangement, you tell him you don't want the hassle and inevitable delay of having the work done now - and, no, you won't be using his suddenly-available sparky for the work...  

Just make it clear that the 'getting it sorted before sale' option will only occur if the house goes immediately back on the market. 

You'll soon see if he's a chancer. Obviously, you need to be prepared to carry this through but, if the house does need leccy work, then it'll be more sellable afterwards - 'fully updated electrics including interlinked smokies' should be an attractive line in the particulars. 

It's funny how it's the small details that would likely sway this decision if it were me; the expectation of having you fit decking lights would, I think, have me telling him immediately where to go :-)

GDB2222

Davidoffash said:

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, 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.  

Thats correct..the decking doesn't even have lights in it. Think today I grow a pair and tell him where to go.

Is there an agent involved? It’s usually the agent who sorts these things out. Believe it or not, he has most to lose if the sale falls through, as he does not get paid at all. 

getmore4less

Stuff seems to be selling at this price get it back on the market

Falafels

Jeepers_Creepers said:

It's funny how it's the small details that would likely sway this decision if it were me; the expectation of having you fit decking lights would, I think, have me telling him immediately where to go :-)

Yes, quite. Entitled little toerag!

caprikid1

Who is to say before exchange he might want to try and get some more off, want money for  fixing décor post re-wire.
Price reflects condition , Jog On

Falafels

Just a quick look on Rightmove... property like yours in the price range £100 - £120,000 seems to be moving pretty well. Not many properties available at all, and mostly SSTC. Six weeks ago was still quite scary in the property market, but things move fast in these weird times - and if your house is in halfway decent condition I think you can be fairly confident of a sale.

Wanderingpomm

Put it back on the market. I bought my flat and it hadn’t been touched since 1967 and that didn’t NEED a rewire, I wanted one though. I imagine you don’t need one either 

waamo

I would have laughed and walked away from him by now.

Hannimal

He isn't holding you hostage. You can pull out.

He might not be able to afford the repairs as it's different being able to afford 108k on a house with a mortgage than it is being able to afford 100k on a mortgage and have 8k in cash on top.