Do I have to decrease flat price 10 days before completion?

[Daffy Mouse]

My 1910 flat was sale agreed 14th Jan.it was on sale before HIP deadline. Now buyer has sent electrician last thursday. He says my flat will cost �2K to completely rewire to bring it up to new July2008 regulations. Do I have to knock this off sale price? My completion date is 19th March. I daren't start packing. Any ideas?
Daffy Mouse

[New Judge]

You don�t have to do anything.

If the buyer insists on a price reduction and you refuse then that is that � end of sale.

Electrical regs are re-issued frequently. This does not mean that all properties have to be re-wired to comply with the latest issue. New builds and any refurbishment work has to comply with them, that�s all.

Your buyer is trying it on. It�s up to you whether you succumb to his/her ploy.

[bednobs]

i agree you dont have to do anything. the buyer will have mre to lose than you - bear in mind they will have paid out solicitors fees and also survey fees, they will have had to get a mortgage offer etc. if they are willing to lose your house for the sake of 2000 quid then thats up to them. it is usual to give an offer subject to survey. after the survey, a buyer might negociate the price down but not usually as far in as this. The july regulations dont even apply yet!

[terence7556]

your wiring is either safe or unsafe.and it cannot be measured against the 17th edition of the electrical regs, which do not apply yet.conversely every home in the country is out of compliance, by his standards.
does,nt really make much sense ? this sounds like a try on in order to reduce the price.
also in certain parts of the country that figure would be the cost of a house rewire, never mind a flat
i wonder if your quote is in writing and if he is a genuine part P domestic spark . if so i would consider making a complaint to his governing body or is this not a way you wish to consider doing?