Advice on possible gazundering

SueTheBlue

Any advice appreciated.
Sold my house in August last year, am purchasing a house with no upward chain.  My buyers didn't get their mortgage offer until October, then there was another long wait for their Home Buying Survey.  Due to a few things that need doing on my property I then reduced the price by £2k.  Solicitors have been very slow, particularly my buyers solicitor.  Things got fired up a bit this week when my vendor threatened to pull out of sale as it was dragging a bit.  My buyers have now insisted on getting an electrician to check the wiring in my property, pretty sure their crap solicitor has egged them on with this, otherwise why wouldn't they have done this after the survey, there's been plenty of time.  I'm not happy about this as it's not necessary, and they did say they would sort out the electrics after they moved in, after it was highlighted as a possible problem in their survey.  Have informed my EA that whatever the outcome with the electrician I'm not going to drop the price at this late stage.
Has anyone got any thoughts/experiences about this, I'm really not happy with what I think is a bit of manipulation by my buyers solicitor, when they could have sorted this out after completion, as they said they would do after the survey.
Sorry for the ramble, just a bit down about it all, and hope someone has some advice. 
Thanks

Sue

MaryNB

I sent my solicitor my homebuyers report when I instructed her in September. It wasn't until mid November as we were approaching the planned exchange date that she asked if I wanted any surveys done due to the high amount of reds in the report. This could have happened with your buyers. Maybe the solicitor only just looked at it in the last few days and mentioned it which may have spooked them. 

Ask them what the valuation was on the report. If it's the same as the agreed price, point out that the surveyor valued it at that despite the issues flagged up in the report. 

Were the electrics highlighted because there was a known issue or was it just a comment that the surveyor had to mark it red because they aren't an electrician and cannot comment on the electrics as a result? Both my gas and electrics were red on my report because of this exact reason. I received docs from the sellers showing they were last checked 5-6 years ago so I was happy with that and told my solicitor I didn't feel an electrical and gas check was warrented. That was the end of that.

If the price is the same as the valuation and they already said ages ago they would sort it out the electrics after buying (and a reduction wasn't mentioned then) just hold your ground.

niceguyed

Solicitors don't usually egg on their clients in respect of survey findings. But yes, it would miff me that if they commissioned a survey and on the basis of that there was a negotiation to lower the price  which was agreed this ideally should have been dealt with then. Both of you have invested time and money up to this point so have something to lose. It sounds like you've made your mind up, that you've agreed an electrician can have a look on behalf of the buyers but regardless of the outcome you won't shift on price. Three outcomes exist. 1.Based on the electrical report nothing changes and proceed as planned. 2. Based on the report they want a further reduction, you decline,  and they pull out. 3. Based on the report you accept a lower offer or choose to negotiate but are still willing to proceed.  This is all speculation so see what happens first but let's say they want a small reduction and you  decline are you willing to lose your buyers and so lose your proposed purchase because you are not proceedable?
Often in negotiations, pride gets in the way and we risk cutting off the nose to spite the face. Do you feel you are at risk of that here?

teachfast

You could refuse to allow the electrical survey and state this was already discussed. That's what I would do. 

numbercruncher8

If you're not going to drop the price, then why not allow it as it won't make a difference. Whatever someone says before exchange is non-binding and advice from elsewhere could cause them to change their mind. 

Probably a better play might be to insist upon exchange before a certain date or the deal is off. That might speed it up, as it is possible to get it checked and reported on at short notice, but if you cannot afford to enforce the threat they might realise it is an empty bluff.

moneysavinghero

Solicitors don't usually egg on their clients in respect of survey findings. But yes, it would miff me that if they commissioned a survey and on the basis of that there was a negotiation to lower the price  which was agreed this ideally should have been dealt with then. Both of you have invested time and money up to this point so have something to lose. It sounds like you've made your mind up, that you've agreed an electrician can have a look on behalf of the buyers but regardless of the outcome you won't shift on price. Three outcomes exist. 1.Based on the electrical report nothing changes and proceed as planned. 2. Based on the report they want a further reduction, you decline,  and they pull out. 3. Based on the report you accept a lower offer or choose to negotiate but are still willing to proceed.  This is all speculation so see what happens first but let's say they want a small reduction and you  decline are you willing to lose your buyers and so lose your proposed purchase because you are not proceedable?
Often in negotiations, pride gets in the way and we risk cutting off the nose to spite the face. Do you feel you are at risk of that here?

4th outcome. Based on the report they want a further reduction, you accept. They think he's dropped the price twice now, wonder what else we can get away with. They send another guy round to survey something else.

NinjaTune

If you agree to the EICR then I'd make it very clear via your/the buyers' solicitors there will be no further reduction in price whatever the findings.  If the buyers are wanting one so they can try and reduce their offer then they may think twice about having it done.  

lookstraightahead

My solicitor works for me and doesn't egg me on, I'm the one reading the surveys etc with their support, so I doubt a solicitor is egging them on. Just think about what you will accept (faffing about wise) and stick to it. Give them that ultimatum, but be fair about it.

SueTheBlue

Hi everyone

Many thanks for all your replies.  I have allowed my buyers to pay for an electrical inspection, but have advised them that I won't be reducing the price of the property whatever the outcome.  
Sue