about to exchange - electrical report problems

first_time_buyer_X

Hi

Hope someone can give me some advice. I have had an offer accepted on a 3 bed terrace for 87500 (originally on at 91000) and we are close to exchange. however yesterday i finally had the electrical report that the sellers had paid for faxed through from my solicitors and it described the property as having poor and unsatisfactory installation. some of this is probably due to the age of the property (built around 1900) but some of it is down to the husband of the couple deciding that he could do electrics himself. i rang the electrician who did the inspection to see what kind of price i would be looking at to fix the 10 things on the list he had suggested needed work he said he had told the sellers that his estimate was £700 + VAT. Although he did say that his inspection did not involve lifting floorbaords so that estimate may change given the extent of the work/damage.

I am slightly suspcicious that this report dated 25th april took nearly 3 weeks to find its way to me and just before we were due to exchange as well. i rang the estate agent yesterday and said that i would still be prepared to go through with the sale if the asking price could be re-negotiated. i am thinking that i should ask for the minimum £800 off the price since that is what the electrician quoted but is this too much? i love the house and don't want the sale to fall through when we are so close. the sellers have apparently found their dream home and are pushing for exchange and the estate agent yesterday seemed to think they would rather pull out and stay put if we don't exchnange within the deadline they have set. however when i was round at the house on friday on another matter they are all packed up and living out of boxes which suggests that they are ready to go and want to move. i don't think £800 off is too much to ask given that there could be more stuff that ther husband has done wrong to fix.

any advice would be welcome

thanks

mlz1413

first and utterly foremost take anything an EA tells you with a pinch of salt!
Next decide what is best for you - finanically and lifestyle do you need or just want the house?

Then think about the problems found and how that will effect you if you buy.
1) if it's only the things found and it's only £700 and a days work
2) if it's a total re-wire about £1500-2500 and a weeks mess, dust and moving furniture.

It's up to you if you buy, not because the other party have packed up pre EXCHANGE.

Get another electrictian round to advise and quote for a total re-wire.