To reduce the offer

[MizMoonshine]

Buying a house.

Original asking price £190,000. We offered £180,000 after advice from restate agents that it would be accepted as they had been rejecting lower offers.

Avg value in area (for a ready to move into house) between £170,000 - £180,000.

Searches have come back, as well as separate gas and electric inspections. Radon high area (will need testing), needs replumbing and rewiring. We've been quoted £5100 for the electrical whatnots, the gas engineer has told me to expect much for the gas.

Would we be unreasonable to reduce our offer again? And if not, what would be a reasonable amount?

We originally offered less because it needs amfair bit of cosmetic work. There's no floor covering down, there's not enough outlets etc- it was overpriced to start. Now we're looking at a large sum to make it livable.

Offer less, pull out if they dont accept. Why would you pay over average for a below average house?

We just really like the house. It's situated by the river where we often go for walks (not an advantage for everyone, but we've checked for flooding and it's sound). We just had a good feeling about the place. Can see our family there.

Why do they think it needs replumbing and rewiring?

The radon thing is quite common and everything else was visible at viewing.

So I guess the new thing is the replumbing and rewiring?

Does the fact that it by the river may the price higher than the 170- 180’s in the area? River side properties cost a fair amount more than a couple of roads along.

Also does it Need rewiring, as in its dangerous and needs to be done or is it old? And the survery say would benefit from rewiring?

But by all means offer less, and see what they say.

Yeah it's just the plumbing and wiring, really. My DP is of the mindset that they've already reduced the price to meet our offer, but our offer didn't account for these things. They've only been noted since.

It needs rewiring because it's about 70 years old, the fuse needs replacing and it just needs bringing up to standard.
The gas/plumbing is to bring the boiler up to standard, the two gas fires have been condemned and there's no radiator in 3/5 rooms.

Does it need rewiring because it’s dangerous, or just because it’s old?

I wouldn’t necessarily ask for a price reduction if it’s just due to the age of the wiring. Our flat had no earth wiring in the electrics, but it wasn’t unsafe just advised that we updated it when we could - so we didn’t ask for a reduction

Personally if you love the house and it’s a desirable location then 5k wouldn’t put me off.

I actually wouldn’t lower my offer unless I wasn’t bothered either way if I got the house.

5k isn’t that much in the grand scheme if you love a property.

Sorry the fuse board needs replacing and the electrics were deemed unsafe upon inspection.

What does your survey say about the valuation? That’s usually the strongest argument for a price reduction.

Definitely offer less because remember a full rewire and plumbing will require flooring, plastering, and decoration so it’s not a move into house, the reduction needs to cover all the cost, unless of course it’s your forever home and don’t mind swallowing the cost to make it what you want

It doesn’t need rewire just because it’s old. And it costs about 500 quid to replace the fuse box. You should get a safety certificate from the seller.

I don’t get the gas fire thing or radiators and if this was made visible bat viewing.

Look if you jist want to reduce the offer reduce it, you don’t need to try to find excuses. Just be prepared for them to tell you to do one.

From your update -

In regards to the electrics, I wouldn’t ask for a reduction because of this. Or for the fact there aren’t radiators in 3/5 rooms or that the boiler is old as this would have been viewable when you viewed the property - more that two gas fires had been condemned, I would want this rectified prior to exchanging

This is a common misconception about electrics being 'brought up to standard'. The standard changes almost yearly.

Are the electrics actually unsafe? A new fuse board is less than £250.

Did you know about the gas fires? Surely the radiators would have been obvious on viewing?

You could ask them to ensure the electrics are made good, and get a certificate to state as such but I don’t think you can ask for a full rewire or a new fuse board (unless it’s replacing the fuse bird that would make the electrics safe, if that makes sense)

Fuse boards are not expensive to get changed, we paid £200 last year

@Movinghouseatlast

This is a common misconception about electrics being 'brought up to standard'. The standard changes almost yearly.

Are the electrics actually unsafe? A new fuse board is less than £250.

Exactly. It’s starting to read like the op is looking for reasons to drop her offer. Which is fairly shitty behaviour to be honest. Hopefully the sellers aren’t in a chain that faces collapse and they can sell to someone else quickly.

The gas fires were condemned upon inspection, so it wasn't something we knew at viewing. We paid to have an engineer go in and look at the property. The boiler isn't old, its "pipework not correctly terminated or installed to current guidelines".

There's no chain, it's a vacant property.

YANBU to offer less, but you should be prepared for them to say no.
I think you would have a better case for the reduced offer if the rewire was deemed essential for safety,not because it's an older property as that will probably already be reflected in the price. You might have more success on the gas safety angle if you ask for the work to rectify the problematic fires rather than a reduction.

Lack of radiators sounds like you're clutching at straws to justify making the reduction.

But just because it’s not installed to the current guidelines doesn’t make it unsafe! As PP said, guidelines change constantly.

None of the reasons you’ve stated would be grounds for a significant reduction which I think is what you’re after.

Who condemned them? Your inspector? And they also said the electrics were unsafe?

@MizMoonshine

Sorry the fuse board needs replacing and the electrics were deemed unsafe upon inspection.

So does the survey say the whole thing needs replacing or just the fuse board?

The lack radiators where seen when you visited so I wouldn’t on those grounds, but I would expect the gas fires to either be fixed or have a reduction. But I don’t think my it’s 5k would be reasonable. But as the previous poster said if you want to reduce the price then make a lower offer.

I think the thing to remember is you will always feel like you paid too much or sold for too little.