About to exchange - rewiring

[justabigdisco]

Hoping you can talk me down. We’ve been ready to exchange for about 2 weeks but our buyers enquiries have been dragging on and on causing much frustration. They only arranged an electrical report on our house a few days ago. This has shown that at least a partial rewire is required. They haven’t suggested anything yet but my gut feeling is it’s WAY too late in the game to be renegotiating on price. We did an electrical report on the house we are buying about 8 weeks ago. However part of me is so desperate to get it done and dusted that I think I may be willing to take a hit. What are peoples thoughts?

Because we are ready to exchange. If we change the price of the house then they have to go back to their mortgage company and that could take ages.

@justabigdisco

Because we are ready to exchange. If we change the price of the house then they have to go back to their mortgage company and that could take ages.

No they don’t. Their broker/mortgage company will just reduce the amount. It’s only an issue if you increase the price because that raises the risk to the bank (my experience having recently bought my third place)

Thanks everyone for your comments. It’s annoying but I’ve agreed to pay half to the buyers.