I own a small second home (market value about $40,000) that I'm
looking to sell It was built where knob and tube was apparently used as
well as ungrounded cloth shielded cable . Appliances and hot water are gas;
fridge and washer are electric. The house has a fuse panel with 4 circuits.
An electrician hired by a potential buyer said : "to correct the ungrounded
wiring to the existing receptacles and removal of the knob and tube wiring a
complete rewiring of the residence would have to be done which would also
increase the size of upgrading the electrical panel to 200 amps to
accommodate more and newer circuits." No estimate was given for that work.
This house is 900 sq. ft plus a full basement that is not useable due to
moisture problems but gives easy access to the entire first floor. With 200
amps I can do the neighborhood! The electrician also told the buyer for
$1,500. he would upgrade the current 60 amp fuse panel to 100 amp circuit
breaker panel (I assume that would mean changing the house entry cable). The
buyer wanted me to foot the bill for the new panel and the other work. I
cancelled the contract. Numerous questions come to my mind: does this mean
nothing in the house is grounded? What is the point of upgrading to a 100
amp circuit breaker panel if all the old wiring is still there and nothing
is still grounded. And I guess a big question is can the existing k&t
and/or the cloth cable somehow be grounded. Could I run a ground wire
from each outlet (there are only 7) for example to the basement below and
connect them to the incoming city water line All your knowledgeable input
and suggestions would be greatly appreciated. Thanks all.