Survey report - valuation and re-wire

inkydolphin

Bigphil1474 said:

We had a new consumer unit fitted in our house, on wiring that is at least 30 years old. Electrician was happy that we didn't need a re-wire. Cost us £400. Replacing plug sockets is pretty cheap as well. Maybe offer them a good will reduction of £5k, but I don't think you have to. Have the buyers made any noises? 

They've suggested a revised offer of £15k below previous offer - £10k for the valuation and £5k for the rewire and other things the survey brought up. Will offer something but definitely not the £15k.

inkydolphin

FreeBear said:

Post a photo of the consumer unit (with the front flap up), and we can quickly tell you if it should be replaced or not.

Just one of those old ones with the cartridge type things where you wrap the fuse wire round. The surveyor has not tested anything so I'm pretty certain after the comments here that it's one of those "that looks a bit old you might want to replace it soon" type things.

Bigphil1474

Is it worth getting an electrician in to have a look - if the wiring is fine, get the consumer unit changed and that 'saves' you £5k for what would probably be no more than £500. They'll give you an Electrical safety certificate as well. If he says it needs a full rewire, at least you can ask him for an estimate.

propertyrental

They're having a laugh. I'd just say no, or perhaps go back with a revised offer of £5K more on the grounds of being  messed around. Then offer to return to the original agreed price if they really want the property.

But I'm a stubborn old ******!

martindow

Have you actually had sight of the survey or at least the relevant sections?  I very much doubt that the surveyor has simply said that it needs a rewire.  They generally are not qualified to comment in detail on issues like the electrical system and I'm sure there are phrases like possibly, maybe or the like in whatever they have said along with a suggestion that the buyers get an electrician to advise.

Before you respond I would ask to see the survey.

inkydolphin

Have seen extract of the survey now. Very much that it's old so could probably do with replacing/rewire in the short term, rather than any mention of immediate threat to humanity, so pretty much as people have suggested. Thanks for all the thoughts. Taking everything into account have offered £1k off as a goodwill gesture.

macman

A chartered surveyor has no more ability to assess the condition of an electrical install than I do. It's purely a visual assessment, and the comment is based on the apparenjt age of the CU-which is probably around 40 years old now. Certainly overdue for upgrading, but that does not mean a total rewire, or 'unsafe'.
99% of UK properties do not meet the 'current electrical regs', because they pre-date them.

propertyrental

inkydolphin said:

Have seen extract of the survey now. Very much that it's old so could probably do with replacing/rewire in the short term, rather than any mention of immediate threat to humanity, so pretty much as people have suggested. Thanks for all the thoughts. Taking everything into account have offered £1k off as a goodwill gesture.

Generous and diplomatic!

the_lunatic_is_in_my_head

inkydolphin said:

Bigphil1474 said:

We had a new consumer unit fitted in our house, on wiring that is at least 30 years old. Electrician was happy that we didn't need a re-wire. Cost us £400. Replacing plug sockets is pretty cheap as well. Maybe offer them a good will reduction of £5k, but I don't think you have to. Have the buyers made any noises? 

They've suggested a revised offer of £15k below previous offer - £10k for the valuation and £5k for the rewire and other things the survey brought up. Will offer something but definitely not the £15k.

I may be wrong but wouldn't the so-called valuation account for the current state of the electrics?

I.e if this was all to be taken at face value, the house is worth £315k in the surveyor's opinion but is currently only worth £310 due to £5K worth of electrical work needing doing.

It's been valued at £310k in it's current condition by their own surveyor so if you was willing to reduce the price what position do they have to claim it should be less than £310k?