House needs more work than we were expecting

[TakingTheStairs]

DH and I have had an offer accepted on a house. We love the house and the area and with prices zooming up at the moment, we don't think we'd get the same for our budget exactly where we want location wise.
The issue is that the survey has come back and it's not great. It's not awful but there is more to do than we expected. There is a new fuse box, so I presumed the electrics were probably okay. Nope. It's seems they haven't been earthed (is that the correct term?) Surveyor thinks we need to probably replace all wiring (to be checked by electrician obviously). There is no gas which we knew, so taking that on the chin. The pipes for the plumbing look like they need to be replaced too. The kitchen ceiling has been damaged by penetrating damp and needs to be replaced. And the (small) roof which is causing this damp needs to be redone too

We have no intention of pulling out and only just got this house by a narrow margin, but what can we do about these unexpected costs. Can we ask the vendor to contribute towards them?

It's a risky strategy - if there were other competing offers and you only just won by a slim margin, they may choose to go back to the market.

However, if it's affecting how much mortgage you can get, they may consider going halves... we dropped ours by quite a way based on mortgage valuation as we liked our buyers and were keen to move (and tbh thought the EAs had over-valued our house).

We aren't going to ask them to drop the price. We can still pay the same but the estate agent who is selling our flat says if that if the vendors agree, between our and their solicitors, when the money is sorted they can give us their contribution. Not quite sure how it works in detail.

If I were the vendors and it's a seller's market (which it sounds like) I wouldn't do it unless you're a spectacularly good buyer. Chances of them having the funds to contribute are unlikely if they're buying somewhere else. That's why it's more normal to negotiate the price down than ask them to pay. I've heard of vendors agreeing to pay for some works to be done prior to exchange but more minor than this. Presumably if they were up for paying for a new roof they'd have done it whilst living there. Not saying it's impossible but if it's in need of modernising (eg no gas) then the price would've taken it into account. And it sounds like you're sure to make a profit on it later.

Should've said, our place had a ton of hidden horrors and the a-hole vendor wouldn't play ball at all - in fact demanded more cash last minute, holding us to ransom. It's been pricey, but the pay-off is the house is now worth loads more so even though it felt like a rip-off, it turned out a windfall iyswim. Hope your vendor is much nicer though!

that's what surveys are for.

but I don't understand why you don't ask them to drop the price - that is the only secure way of doing it. Comes to the same thing but puts it in the deal.

if they won't, your call. Of course, everyone else's surveys will come up the same.

electrics not earthed? Really? Ask the vendors for clarification on this.

no gas? If you mean 'no gas main nearby' then you will be looking at a LOT of money to change that. So you'll need alternative fuel.Oil is not as expensive as everyone says with an efficient boiler and if you monitor the price.

There is no gas connection to the house. There is gas mains on the road, but we will have to get connected to the mains supply.

The survey said the fusebox had no earth, so DH thinks it's the original wiring from 1933. Obviously we'll get this properly checked by a qualified electrician.

It's a probate sale so the vendors may not have been fully aware of all the issues. Then again, it could be why they wanted such a fast sale! The price doesn't fully reflect all the issues (but we're not massively over paying) but it's worth it to us as it's chain free. We have recently pulled out of another house as the vendor was going through a messy divorce and didn't really seem to have any intention of finding another home.

I'm going to call their estate agent (who is genuinely helpful) and feel out the situation.

It is very unlikely to be 1933 wiring, which would be rubber, perished and cracked, with hardly any sockets.

Most likely it has been renewed or patched up since 1960. A new CU is often a cosmetic trick to make naive buyers think it is up to date.

No earth connection suggests an amateur bodge so who knows what else is wrong, you may as well assume it needs a full rewire. Best time is while the house is empty before you move in.

It's worth asking them to contribute. They can only say no. And if they do agree, the usual is for them to drop the price.

Thanks PigletJohn and RoganJosh

Does anyone know approximately how much a full rewire on a three bed semi 1930s house might be? And how long that sort of thing takes?

R

Re

Rewiring a house costs the same as buying a second-hand car.

Ask around for local recommendations. Don't use yellow pages or websites. Before making an appointment, ask the electrician which self-certification scheme he is a member of, write it down, and check him on their website.

That's really good advice, thanks PigletJohn

I am thinking what PJ has said - if a new fusebox has been put in with no earth then a dangerous cowboy has been round. Very worrying.