Electrical inspection

Sid91

Hi, just after a bit of advice! At the end of October last year we sold our house. We're now only just getting to the point of exchanging contracts and the buyer has asked for an electrical inspection to be carried out 🙄 admittedly they're paying for it so I can't grumble. Just slightly annoying that we've got this far! Anyway, now I'm worrying that they're doing this in order to gain some leverage to talk me down on price. The buyers dad came round last weekend who is a builder and he literally went around the whole house and obviously couldn't find any issues because he never said anything and has now requested this inspection. I'm just not very good with these kind of things so have no idea what to expect! My house was built in 1979 and I know my consumer unit does not meet current regs but neither does 90% of the country! Are the checks all computerised or could the electrician do what a lot do and scratch their head saying it needs 10 grands worth of work doing? I just want to be prepared for any negotiation that might come from the buyer. They are paying £3000 under the asking price and I am leaving them my cooker and fridge/ freezer. They're first time buyers and I wanted to help them out! Any advice would be great..

JessJ23425

Doesn't sound too concerning to me.
If you're this far into the process and they're paying out of their own pocket this late to get an inspection it sounds like they just want to be sure for themselves.

With that in mind if they did try and come down on price I'd call their bluff and count on the fact they've invested a decent sum in the property already and won't walk away (assuming they're not ghastly unsafe and dreadful electrics!)

GDB2222

40 year old wiring is coming towards the end of its useful life. I expect that the report will either say a rewire is needed now, or in the near future.  That costs a few thousand plus there may be plastering and redecorating issues.

 90% of other houses don’t matter. What matters is whether other houses that have been used as a price comparison have had a rewire.

lookstraightahead

If someone is forking out hundreds of thousands of pounds, at any point before exchange they are likely to worry about things. Yes they may try to negotiate and you can always say no. To be honest a £3000 'reduction' isn't that much so they don't seem to be unreasonable people? Lots of people visit again prior to exchange I wouldn't worry .

NinjaTune

Yes issues will come up due to the age of the wiring and yes they may try and use this as leverage.

As said above, you could call their bluff or you could agree to a 'goodwill' payment towards the costs.  Basically it's down to you how confident you feel about whether your buyers may pull out.  One thing in your favour is if they pull out then they will not get another purchase completed before SDLT kicks in again.  Ultimately though it's down to you.

AdrianC

An EICR marks its findings into three categories.
C1 - actively dangerous.
C2 - potentially dangerous.
C3 - safe, but not up to current standard.

If they try pointing to C3s, point them to the explanation.
If there are C1s or C2s, it's up to you as to whether to say "You knew it was 40+yo wiring" or "Hmm, that's not right, is it? Let's come to an agreement."

ProDave

I disagree.

Providing the wiring has not been messed with, the wires in the wall should still be perfectly fine.

What it will need is a new consumer unit, a full test and any actual faults put right, and almost certainly the earth bonding to the water and gas pipes upgrading.

It is usually only necessary to hack the plastering to bits if you actually want more sockets, or sockets in different places to where they are now.

I would expect £1000 to cover all the necessary upgrades if the buyer agrees the actual fixed wiring can stay.

FaceHead

As they've spent so much on solicitors, surveys, this inspection, etc. it's not in their interest to walk away over anything worth any less than several thousand. 

The inspection would have to find 000's worth of work that they didn't expect, and given its an old house some old wiring is to be expected, and should be considered already built into the accepted offer. There is only so much an electrician can do without turning your power off. 

If they did find a lot of work to do, you could take the view that you'll find a new buyer who won't commission an electrical inspection. 

Don't worry, and don't let them chip the price down so late in the day. 

Sid91

Thanks everyone. I'm probably worrying over nothing. It's just we're so close to the finish line now I just want to get it sorted. Excellent point regarding Stamp duty, I didn't think about that! 

Sid91

lookstraightahead said:

If someone is forking out hundreds of thousands of pounds, at any point before exchange they are likely to worry about things. Yes they may try to negotiate and you can always say no. To be honest a £3000 'reduction' isn't that much so they don't seem to be unreasonable people? Lots of people visit again prior to exchange I wouldn't worry .

Thank you. Regarding the 3000 reduction, it was big for us as we fitted a brand new boiler and new bathroom, I just didn't want them to try anything else when they're already getting a lot for their money and I'm also leaving things behind for them which weren't cheap!

Sid91

FaceHead said:

As they've spent so much on solicitors, surveys, this inspection, etc. it's not in their interest to walk away over anything worth any less than several thousand. 

The inspection would have to find 000's worth of work that they didn't expect, and given its an old house some old wiring is to be expected, and should be considered already built into the accepted offer. There is only so much an electrician can do without turning your power off. 

If they did find a lot of work to do, you could take the view that you'll find a new buyer who won't commission an electrical inspection. 

Don't worry, and don't let them chip the price down so late in the day. 

Thank you, that was really helpful 😊 I'm just worrying over nothing probably! They just caught me off guard with it. I also have the upper hand in the sense that my solicitor is no sale, no fee. Whereas now we've actually signed the contracts, just not exchanged they will have to pay full solicitors fees plus the stamp duty on a new house!