Reduce the price or make them do the work?

redhead123

Hi folks,

First time posting for me..first time buyer too! Eek.

So, I had a survey done on an old property..it made some recommendations that should be done before I exchange contracts - the total cost of work I worked out from surveyor's estimates would be around 3 grand/3500.

Now my surveyor said to get the vendors to get builders in (the builders who they are buying from ) to do the work and then get him back to re-inspect.

Or I could just knock 3500 off the asking price.

At the moment I've gone for money off (which they agreed to) and i'll get someone in to do the work myself..is that the best option??

The work includes - getting a steel supporting beam to the disused chimney flue in the roof space, strengthening an open splay iong on a front purlin, have a qualified leccy check the electrical installation, replaced cracked flashing on chimney.


Any opinions/advice would be much appreciated! I have to give a definitve answer next week.

phil_b_2

I'd want to know it had been done properly really, so wouldnt trust the vendor entirely. He could get some cheapie mate in to do it or something. Also, are the repairs essential? If not you could just live with it for a little while and get a 3k cheaper property. Any extra dosh in the bank straight after purchase would be good while you monitor how well you are affording things.

Captain_Mainwaring_2

Don't leave the chimney too long.

If the sparks condemns it then what? £3500 will pay for the rewire but what about the other stuff?

Doubling up a purlin won't cost much, but remember as is typical with a surveyor he didn't check right up close , if the flashing has been split for any time then there may be something nasty underneath.

If they agreed that willingly, you have to ask yourself about the price of the property and the real extent of the faults.

i1189

We were in pretty much the same situation - chimney not supported properly, and dodgy wiring.

The vendor got the electric problem highlighted by the surveyor fixed straight away - he said he wasn't happy with electric problems being left. We got the price discounted for the building work on the chimney (it needed removing), so that we could complete, and then get the builder of our choice in (as he had a waiting list).

This suited us as we knew the building work was done to a standard we were happy with (rather than another cowboy like the one who decided to support a chimney on a stud partition in the first place).

redhead123

Thanks all, it's good to have some feedback.

Perhaps 3500 really isn't enough then, shuold I ask for 5 grand?

Or maybe say I changed my mind and decided that they have to do the work - and I shall send my surveyor round again to re-inspect? That way they'd have to do a decent job?

Trouble is I had already verbally agreed to 3500 but hey, I haven't signed anything yet. Just not sure what to do as they're pushing for exchange by next weds (that's the builders of the property the vendors are buying - they reduced the price of theirs by 3500 so the vendors can knock it off theirs for me)

redhead123

I forgot to add - the property is a 2 bed victorian terrace in the south east...not got any real parking facilities but in a decent area - purchasing price is 125,000 minus 3500 if i go ahead with original suggestion

redhead123

i1189 wrote: »

We were in pretty much the same situation - chimney not supported properly, and dodgy wiring.

The vendor got the electric problem highlighted by the surveyor fixed straight away - he said he wasn't happy with electric problems being left. We got the price discounted for the building work on the chimney (it needed removing), so that we could complete, and then get the builder of our choice in (as he had a waiting list).

How much did the chimney work cost in the end? I've been quoted 1500-2000 for the steel beam

Captain_Mainwaring_2

If it needs a rewire you could get through £3000 for a 3 bed semi with plenty of power points. Sure you can get it done on the cheap, but I never see the reason for not putting in plenty of power points.
It may just need a tart up, new consumer unit etc, bit of earth bonding, or perhaps just the lighting circuit doesn't have an earth, in which case it will be less. Get a friendly sparks to give it a lookover.

Sounds like the vendor two down is getting anxious, try for a bit more, if you don't ask you don't get.

redhead123

yikes! The builders might get aa bit fed up with me if I go back on my original offer of 3500 and up it to say 5 grand?? They may refuse to do it in which case my vendors won't be able to move either! But then they want a quick sale I guess, so maybe they will? I could say I got an estimate for the electrical work and it's more than I thought - and say if they accept i will definetly exchange on the wednesday.

I wonder though, if i would be able to live in the house while this work is going on?

redhead123

Forgot to add. ..it says 'get the electrician to check over the loose power points with the trailing leads, the poor power supply to the outside stook, the lack of RCD protection and the poorly fitted dimmer switch'!!!!!!

Captain_Mainwaring_2

redhead123 wrote: »

yikes! The builders might get aa bit fed up with me if I go back on my original offer of 3500 and up it to say 5 grand?? They may refuse to do it in which case my vendors won't be able to move either! But then they want a quick sale I guess, so maybe they will? I could say I got an estimate for the electrical work and it's more than I thought - and say if they accept i will definetly exchange on the wednesday.

I wonder though, if i would be able to live in the house while this work is going on?

Well you are the one with the cheque book, you have to do what the rest of us do and take a gamble.

Why haven't you got an estimate already? your 3.5K could get eaten up with a rewire and you will end up losing out.

Yes, you can live in the house, but the sparks will work quicker and possibly cheaper if he has an empty house. He can get rooms done in order so that you can use them, and don't ask him to put back 20 year old foam backed carpets.