Questions from Potential Buyers - Fuse Board and Rental Price

redzhell

Hi - we've had a few questions from a potential buyer and not sure how to answer a couple of them:

* Would the electric fuse board be legal for a rental property?
* How much would it rent for?

How would we know the answer to the fuse board one? Also, had a look at RightMove but couldn't see a similar property (ex-housing association) flat around the area. Is it our responsibility to organise for an electrician (for the fuse board) and letting agents (for rental price) to be able to provide the answers?

Apologies for all the question - this is our first time to sell and not sure what is expected of us.

Thanks in advance.

SameOldRoundabout

I don’t think either of those questions are up to you to answer! Tell the buyer they can instruct an electrical report and they can ask your EA about rental value. Seems odd they think you’d even know those things! 

MaryNB

Absolutely not. It's not your concern that they want to rent it out. They need to do their own due diligence by researching the local market and organising and paying to get an EICR done. If the fuse board needs to be replaced they can do that after completion.

theoretica

Offer to sent them a photo of the fuse board if they would like.

ProDave

To let a property requires a satisfactory EICR.  Unless the house is only a few years old, it is unlikely it will just  pass without any upgrade work.  Someone buying with a view to letting it should know that and also be able to find out from letting agents how much it might rent for.

moneysavinghero

Your buyers sound like amateur / wannabe landlords. Ask them to instruct (at their own expense) an electrician and a Letting Agent to answer those questions for them.

AdrianC

redzhell said:

Hi - we've had a few questions from a potential buyer and not sure how to answer a couple of them:

* Would the electric fuse board be legal for a rental property?
* How much would it rent for?

How would we know the answer to the fuse board one? Also, had a look at RightMove but couldn't see a similar property (ex-housing association) flat around the area. Is it our responsibility to organise for an electrician (for the fuse board) and letting agents (for rental price) to be able to provide the answers?

Apologies for all the question - this is our first time to sell and not sure what is expected of us.

"If you have any concerns about the electrics, we would be happy to provide access for an electrician if you wish to organise one. The EA may be able to help you with rental values"

eddddy

How did the questions reach you? Via solicitors, via the EA, direct from the buyers?

Either the buyers are very amateurish BTLers - or it's part of a sneaky plan, leading up to justifying a reduction in their offer.

If you think they are genuinely innocent amateurs, and the questions didn't come via solicitors, you can try to give them polite, helpful but non-committal answers, like:

"Here's a photo of the fusebox - maybe you could show it to an electrician". Or "the fuseboard has a date of xx/xx/xx on it - maybe that's when it was installed."

 

theartfullodger

If they know that little I doubt they'll make it as buyers 

Slithery

'I have no idea' is a perfectly valid answer.

Irishpearce26

£25 for new fuse box and £2500 per calendar month