Electrical inspection

Sid91

ProDave said:

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.

Thank you 😊 I've already reduced by 3000 so they can't really quibble at that!

GDB2222

Sid91 said:

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!

The stamp duty works against you but in their favour. As FTBs they won’t pay stamp duty even after the holiday ends, unless this is a very expensive property. If you call what you think is a bluff, but it turns out not to be, you are bound to miss the deadline on your purchase.

The £3k reduction and new bathroom are only relevant if your asking price was very fair to begin with, compared to other properties without a new bathroom.

The report is bound to come back fairly iffy. They are likely to want extra power points etc. So, they may add up the cost and decide to bargain a bit harder, particularly with dad in the background urging them on. In some parts of the country it’s still a sellers market. In other parts there are price reductions being reported.

Anyway, we are crossing bridges before we get to them.  I hope it all turns out well for all concerned. 

Angela_D_3

Sid91 said:

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! 

Unless of course the deadline is extended in which case the big guns are likely to come out. Im not exchanging before March the 3rd to see what’s happening and if it’s extended ill restart negotiations tbh 

lesalanos

AdrianC said:

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."

C3 is improvement recommended and lots of buyers will read this and expect the improvements completing.

davilown

lesalanos said:

AdrianC said:

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."

C3 is improvement recommended and lots of buyers will read this and expect the improvements completing.

Then surely the buyer can do it themselves in the process of upgrading if the vendor gives a discount for a new CU?

couriervanman

GDB2222 said:

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.

"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."

Rubbish 40 year old wiring is perfectly ok as long as its not deteriorating 

lesalanos

davilown said:

lesalanos said:

AdrianC said:

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."

C3 is improvement recommended and lots of buyers will read this and expect the improvements completing.

Then surely the buyer can do it themselves in the process of upgrading if the vendor gives a discount for a new CU?

If I was the vendor I wouldn't give any discount but that's personal choice

Some buyers expectations though are that everything will be perfect.

burlingtonfl6

If they want new wiring tell them to go buy a new house or more for one that's already been done.

Sid91

lesalanos said:

davilown said:

lesalanos said:

AdrianC said:

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."

C3 is improvement recommended and lots of buyers will read this and expect the improvements completing.

Then surely the buyer can do it themselves in the process of upgrading if the vendor gives a discount for a new CU?

If I was the vendor I wouldn't give any discount but that's personal choice

Some buyers expectations though are that everything will be perfect.

Thank you. I've already reduced the price by 3k and it was more than fair to begin with so I begrudge giving anymore. A new consumer unit is £450.00. If I knock this off the price then they aren't getting £450 in their back pocket, they'll just get a minimal amount off their mortgage each month, hardly worth arguing over. If they absolutely insisted I get a new CU then I will because it's not worth losing a sale, but I won't be doing anything else.

wedge69

If it's any help, we've just paid for an EICR on the house we are hoping to buy. 
It failed, nothing serious or dangerous, just some minor things that add up to "not at current regs".
We've been quoted 500 to fix, and another 500 for optional work.
We're not even considering approaching the vendor as we consider it maintenance that we should pay for.