Good advice please, am I about to be ripped off?

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Andyh176
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Thanks for reading this, any help/advice is appreciated.

I have recently had a viewing of my property by a couple who during the visit admitted they had been declared bankrupt, I'm thinking this might not be too much of an issue as they both work and being bankrupt tells me the debt they had has been wiped and they cant get anymore.

They claim to have a 1500 deposit tied up in their current rented property which they wont get back until 28 days after they move out which I understand.

In lieu of the 650 deposit I require from them, he (a qualified, up to date electrician) has offered to fully rewire the property if I pay for the parts.

This seems like an amazing offer, for approx 400-500 for parts I could have a 2.5K job done for me, once he is finished they plan to re plaster and decorate the property for me as they plan to be there and bring up there 2 young girls for the next 5 years minimum.

He wishes to start work asap, in order that during their 4 week notice to the current landlord he can make the property fit for his family.

MY CONCERNS:

worst case they change their minds half way through the job and I end up with a property which is not habitable, they flee with my money or electrical parts & I have to foot a bill for a re-wiring project, I have to call in plasterers and decorators, re advertise, re-let etc which could take months costing me thousands.

OR, I give him the keys to start work on the property, I can only visit on weekends due to work and on my 1st visit to check how things are, I find the full family in there, no electrical work done, locks changed, refusing to move and with the cash id have given him to buy parts for the job.

At the least I expect months/years down the line for them to stop paying rent as a prelude to moving out as they know I have no deposit to withhold from them.

or am I to cynical?

They seem OK, but so do all good conmen

What would you do?

21/02/2011 00:00

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