Re wire estimate 4 bed house

[Wing_na_Prayer]

Hi,

Thanks to anyone who reads this and offers any advice.

Sold my house and the buyer requested an electrical inspection report which they paid for. House was built in the 1960s. In average condition but I felt the price reflected this.

Report recommends a full new re wire (which I agree with as the electrics are around 40-50 years old) the report also recommends some other things such as relocation of the DB unit to the garage.

My question is that obviously they want to renegotiate the price of the house (fair enough) but they’ve sent an estimate of £7000 excluding VAT. Minimum price with the potential of it to be more expensive. I’ve spoken to a few friends who are electricians and obviously they haven’t seen the house electrics themselves (and I appreciate no one will have in this forum either) but I’m struggling to comprehend the £7000 figure.

So basically I’m coming to this forum to ask advice of how much you guys think a full rewire of the house Would cost. We live in the north east of England (Newcastle) it’s a 4 bed semi detached house with 2 bathrooms (1 electric shower) and an attached garage with electrics.
4 bedrooms are decent sizes
2 bathrooms
2 reception rooms
A decent size kitchen
A large garage
Large ish hallway

I’m aware that to sell the house with dodgy electrics isn’t a good idea and I’m fully aware I’m going to need to knock some money off the sale price but in my eyes the money I’d knock off would be for a very basic rewire to ensure the electrics complied and were safe. The report may recommend things which are not essential and only a recommendation. But what I don’t want to do is knock off 7k and then them get the re wire a lot cheaper. I’m conscious that the people buying my house have a relative (who also came to view the house and is in the building trade) could be trying to pull a fast one. The buyers were very happy to proceed as fast as possible until their relative came to view the house and then all these issues started being raised.

Again I fully understand when buying a house you don’t want unexpected things to arise that haven’t been mentioned. But the house was priced in the condition it’s in and although I’m happy to negotiate another price I don’t want to be ripped off or taken advantage of. Not moved in a very long time so in sorry if I’m asking questions which are obvious.

I’d just appreciate a little advice or guidance from you experts.

Thanks again

It would depend on why a full rewire was recommended. Is it rubber wiring or just old? Do the circuits have earthing conductors? Did the report actually say it was unsatisfactory? The exact reason for an unsatisfactory report will be noted such as a C1 or C2 defect classification. It may be possible just to rectify the actual C1 or C2 defects. Without seeing the report it's difficult to say. I would certainly get at least 2 more quotations.