House needs new boiler and full rewire

[Stargirl90]

We are purchasing a house, as first time buyers, we had gas and electric certificates carried out, gas has come back saying boiler in poor conditon, needs replacing, along with hob also needing replacement. £1.5-2k

Electrical results are a nightmare, house needs a full rewire, quoted £2.5-3k

So up to £5k for the lot, which we cannot afford to foot ourself. We are going to ask the seller to either pay to get them done prior to selling, or if that fails is it possible for him to accept for example 5k below selling price and then use that 5k from the mortgage to fund the repairs? Is that even allowed?

The house in not safe to live in until the electrics are at least sorted. This came as a huge shock, was not expecting any major issues at all.
If neither are possible we will have to back out 🙁 surely it shouldn't be the buyers responsibility to fix the electrical issue

I don't think it's anyone's responsibility to pay specifically, you are aware of the issue now, as are they, so it's simply a negotiation to see if the deal can still be done.
Get back to the sellers and explain the situation that you can't buy at the current price and see if they are happy to do anything.

Yeah I see, well the seller isn't aware yet but we'll be getting in touch with estate agent and solicitor tomorrow to decide next move, so disappointed

They probably are more likely to reduce the sale price. However had someone actually declared it unsafe to live in? That might affect the mortgage (ie you can’t get a mortgage if a house is uninhabitable). If the sale price is reduced by £5k does that mean your mortgage offer will be reduced? You can’t agree a price and then actually pay less, either the seller reduces the price or does the work before exchange. Do NOT exchange on their word. It has to be a condition in the exchange contract.

They will probably agree to reduce the sale price. They aren't going to rewire the whole house. It's a massive job !

You heed to put your sensible head on . How old is the property? Does it really need a new boiler and rewire or do they not meet current specifications? Does it need a full rewire or a new fuseboard? Has the boiler been serviced regularly and is it that parts may be difficult to find. Often surveyors will state worst case scenario and highlight issues which sound drastic but are actually not that urgent.

Remember inspectors always err on the side of (extreme) caution and can make you worry unnecessarily.

It is prob fine to live in but needs addressing. We had to put central heating in to our property and were told it needed full rewiring but instead opted for new board and kitchen fully rewired on a separate circuit, which was much cheaper but depends on the size of your property. 5k sounds v reasonable to me.

I would ask for them to reduce the house price explaining that you wouldn't be able to afford to purchase otherwise. You can speak to your solicitor about this too as they will handle the money on completion. It is quite normal for people to ask for money off following surveys etc.

Will you be doing other works to the house straight away or can things wait a while til you have more cash?

You say you are FTB

Every house has things wrong with it.

The vendors will say it has been priced taking into account its condition.

If you can find a better house for less money, buy it.

PigletJohn speaks sense. Also, that price you have been given seems exceptionally low for a full rewire.

I see so if the sale price is reduced the mortgage will reduce as a result, this is so complicated, honestly I can't see this working out now, we live in an area where house prices aren't too high (compared to other parts of UK) which is why the work might seem cheap. The house is under 120k for 3 bed semi in a nice area. We are speaking to estate agent shortly so will see what they say

Did the mortgage valuation match your offer?

Ask yourself a different question.

For this price, can I get a better house?

Can I get a house in this condition for less?

If you can, do.

If not, you may as well carry on with this one.

Actually, we do sympathise, it's always a struggle, but the chances are it's about right, and that's why you chose it.

I think, we are pulling out. The seller is saying the house is sold as seen, cannot budge on price as he needs to pay off the mortgage. The thing is when we were shown the house we were told it was 'ready to move in' but turns out it's not and its 'sold as seen'! They never said that at the start but are now saying the estate agent and seller apparently weren't aware of the electrical problem.

The thing is , the seller also said from the start that he was paying to get gas an electrical survey done, then for some reason changed his mind so we got them done ourself. Our theory is that he had them done, saw the results, and decided not to tell us on the hope we wouldn't get them done! Why else would he have pulled out from.doing them and they just happen to both have terrible results

They probably were not aware of the issues and it would be unusual to get surveys done as vendor, after all a purchaser might be sceptical of results. When you live in a house for a while you grow accustomed to what it is. Fwiw I suspect you are overreacting and will find it difficult to buy what you expect within your budget.

DO you feel like this house is the one - will you be gutted if you loose it?
If so, can you hold back £5k from your deposit and ask the bank to lend £5k more (if your loan to value is still within the right limits)? That way you can buy the house and effectively spread the cost of the repairs over the term of your mortgage and get everything done before you more in?

If you don't feel gutted by the thought of loosing it, move on and look for something else.

I agree with a previous poster - the house is not inhabitable, and you can probably live with the boiler, the hob and the wiring it's just it will be advisable to get them all changed.

This sounds like ftb jitters to me. No house is perfect. If you like the house, offer what you think it's worth to you. None of the things you mention sound that bad - presumably someone is living in it now. From the way you (or probably rather your litigation averse surveyor) has it, you are in imminent danger of electrocution.
Were you renting before? Buying is a different kettle of fish. You can't expect everything in your new home to be perfect, and they never are, and you can't expect a vendor to put everything right for you. Even if you buy a perfect house, it will need upkeep and maintenance every year that you own it. A property will always cost you money to maintain, unless you want it falling round your ears.
I think the rental culture has brought up a whole generation of people to think that they should never have to spend anything on maintenance, as they have never had to in the past, and they want everything 'certificated' and signed off. If you want a house without any quirks/faults, you will have to pay the going rate. All properties have faults, even brand new ones.
Oh, and 1.5 to 2k for a new hob is exorbitant!

I think you are being a bit OTT. Houses need maintenance, that’s part of homeownership.

£5k to spend is not a lot in terms of having a rewired house and new boiler.

It was that price for a replacement boiler and hob!

when i bought my house 10 years ago the survey said the boiler wasnt in a great condition but still works, havent yet had a problem with it and obv never replaced it

what was the exact wording? i was advised the surveryors will always say the boiler isnt in great condtions and the electircs need redone as they arent always up to current standards and its a way to cover their back

Also, 5k is very low for a rewire, new boiler etc. I would say that was about 10k's worth at least. Where did the 5k figure come from? A full rewire is a very messy job requiring redecoration afterwards, which is another thing to think about.

Moved into a house which was 22 years old. Once purchased it's needed / we have done. New boiler, some new radiators,New front and back door, New double glazed Windows, New soffits and down pipes, re wire . Currently doing new bathroom and needs a new kitchen.

Yes, our boiler was pointed out as past it on the survey, as was the fencing. They both lasted another 15 years, by which time the poor old boiler was 35 years old - but they were solidly made in those days. I felt quite disloyal when we replaced it.
Our wiring was also queried as old and possibly unsafe. Fortunately my h is an electrician capable of making his own checks. The only thing wrong was the consumer unit was very old. My h replaced it - after about 10 years.

Hi OP we just had a full rewire (£5k) and new boiler (£3k) in a 3 bed house in the SE just to give you an idea. Also more than the cost is the mess, the electrician warned me of the mess but I wasn't quite prepared for how messy it was, a lot of channelling of walls etc. We didn't live in the house whilst it happened and I am very glad we had that option. I would take that into consideration as well.

The mortgage lender wont give you the additional 5k. Unless you can take 5k out of your deposit and they'll lend you the additional if that makes sense to you..

Who said the place needs a rewire and a boiler? Was it a homenjyera report as generally they will say that the boiler needs updating if older than ex amount of years, and that the electrics arent upto current standards as current standards change all the time.

Or did you get your own people in to take a look?

Every house is going to need something. As long as the boiler is 1. Safe and not condemned and 2. Works and gives hot water and heating, then I wouldn't worry about replacing until it goes kaput.

Are the electrics dangerous? Or just old? I've lived in houses where they are old and they were fine, just very old. You could save for a rewire if needs be if it isnt dangerous.

Legally the seller dowsnt have to pay for gas and electrical safety certs. The done thing is the buyers doing it on the house they want as the vendor usually had to do it for their onward purchase

Total overreaction. 5k is a lot of money of course but a bargain for what you're getting done! I'd be happy. Much rather his than find out five years down the line. The work can be done quickly when the house is empty.