When selling your home, you have no obligation to bring it up to code. Few houses are completely up to code prior to sale. Existing homes typically have a number of things wrong, but do not pose an immediate threat. However, the condition of your home does have an impact on your asking price. If you want the highest possible amount, it is imperative to correct any coding violations. This will also cut down on the amount of negotiations between you and the buyer. Otherwise the buyer may request for you to pay to repair the issues or ask for a discounted price.
Codes exist to keep people safe by minimizing danger. Almost all home financing and insurance have electrical caveats. If there are problems with the electrical components of your home and you sell it without disclosing this fact, you could face legal action. You are required by law to reveal any dangers in your home. If something happens because of the code violation, such as an electrical fire, you could be held responsible for any medical bills or damages incurred as a result. To eliminate any liability it is beneficial to repair any electrical problems.
There are many common electrical safety concerns present in older homes. Insufficient service will have to be corrected. 200-amp/240-volt service has become the standard in single family homes for over twenty years. Nearly all insurers demand at least 100-amp/240-volt service. However older houses feature 60-amp service which is not even enough to power a majority of appliances used today. Outdated wiring is a well-recognized safety concern. This includes non-metallic wiring used for homes built in the 1940s-1950s, aluminum wiring from the 1960s-1970s, and the pre-30s knob-and-tube wiring. A multitude of large insurance providers have flat out refused to insure homes that have knob-and-tube. Replacement of service panels and bulb-style breaker boxes installed over thirty years ago is necessary for buyers to be eligible for insurance and financing. There is also an overabundance of recalled breaker boxes still in use. Those defective boxes pose an enormous risk of danger.
Before placing your home on the market, you can have an inspector do a walk-through to look for violations. They will search for any problems with your electric. You can also check for permits, if there is a previous owner to your place. You can contact your municipality to ensure all the projects completed were authorized. If you find no permits for your home but major work was done in the past, this is not good for you. Most laws state that the current homeowner is liable to resolve any code issues.
Rose Brothers & Sons Electric can bring your home up to electrical code. We have experience working with new and historic homes, so you can trust that you are in good hands. We will fix any issues to ensure your home is sold for top dollar. We are located in Walton, KY and provide service to Northern KY and Cincinnati. Contact us today!