Report and valuation repairs

A question about : Report and valuation repairs

Im trying to buy a house and having never done it before finding it all a bit confusing.

Got the report back which stated that there might be some damp problems and possibly some electrical work may need done. The bank wont give me a mortgage till ive had these things looked at. My question is, should i be paying for these further inspections and then asking for a reduction in the price or what way is the best?

thanks

Best answers:

• This is a tricky one.
  You have probably made an offer "subject to contract".
  The asking price probably is more than the seller expects to give.
  If you get some free estimates for the cost of repairs you will have a negotiating tool.
  Whether you get a reduction or not depends on a number of things which are beyond your control.
  e.g.
  How long is the chain.
  Is the seller in a hurry.
  Has he had any other offers.
  Always remember the Estate Agent is the sellers agent not your agent.
  Good luck