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Please Get Rid Of The Knob & Tube Wiring!
One of the most important revelations of a home inspection I attended yesterday was that the home, built in the 1940's, still has some live knob and tube wiring. Why was this important? Well, my client will be unable to obtain basic homeowners insurance on this home as long as this old wiring is still active. No insurance-no loan-no deal!

This wiring type was used in homes built prior to the '50's and does not include a ground wire, making it unsafe it the eyes of many insurers, including Citizens, the insurer of last resort in Florida. The cloth insulation deteriorates over time as well, making it a fire hazard.
So where do we go from here? Anytime I represent a client on the purchase of an older home, I make sure to have an inspection contingency that gives the buyer the right to cancel for any reason, based on the results of the inspections, be they a home inspection, pest (termite) inspection, structural inspection, etc. Most sellers, in this market especially, will accept such a contingency as long as the right to cancel period expires after a reasonable amount of time.
But in this case, the seller will not be able to ... more

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