Advice plz about inspection report "knob and tube"

[Amer Swid]

Hello,

So, the inspection report came back with multiple hazardous flags that needs to be addressed , but the most one that it is expensive (25k cost) is the" knob and tube issues "of the electrical stuff. Its old house (1900s). Does anyone has experience with this. is it something that i need to address right away if i purchase this rental property. The original offer was 300k but then we asked for 25k off since there are other multiple things needs to be address like old furnace and stuff like that, but we asked that they take care of the hazardous flags. Now they said ok to drop 25k and we cover for everything including the hazardous flags. Should I ask for another 25k off, or should I walk away. How serious is this. The knob and tubing is in the attic and basement.

Thank you

Here is the report

[Bruce Woodruff]

@Amer Swid I have dealt with this many times....get it re-wired, it is not worth the risk! Brand new knob and tube would be marginally ok, if you added a ground wire. 125 yr old wire of any kind is a hazard, and knob and tube in particular has a lot of issues Some of the previous posters have tried to justify it saying that it is legal because it was up to code when installed.....but they neglect to say that any K&T system still in place has certainly been altered, modified, added to since it was installed...and that automatically makes it illegal. I can guarantee you that virtually every KT system out there has been altered and without a permit because it would never be issued. I have never seen a Building Dept or inspector that would say, "sure just splice into the old KT, we'll pass it"

Let me put it like this - KT is always unsafe and should always be replaced ASAP - Here are the problems with KT:

1) The wires are far more exposed than any modern wiring

2) Splices (original) are not made in J-Boxes, and most newer splices will not be either. This violates code and is really dangerous...

3) No Ground

4) Dangerous when Insulation is present, which it usually will be nowadays. K&T was designed to keep the wires cool (hence the knobs). If you see K&T with insulation all over or under it, get it replaced immediately if not sooner...

5) Bent wires - happens all the time, and that type of old insulation wrap breaks when it gets bent.

6) New splices will be inline and not in boxes...no bueno...

7) Brittle insulation - of course it'll be brittle, it's old

8) Usually you will pay higher insurance premiums - if they know about it. If they don't and you have a fire, they may refuse to pay out, saying that you did not disclose the K&T