Electrical Mess

Since the biggest issue found in the inspection had to do with the house wiring, we decided it would be a good idea to get a quote on what the cost would be to have it fixed and brought up to code, before our 10-day inspection period ended.  Our original plan was to do most of the work on the house ourselves, but Mike felt that re-wiring the house and the electrical panel was a little out of his league (though my dad said we could easily do it).  Our realtor recommended a licensed electrician and we were able to get him to do a more detailed investigation.  He confirmed what the inspector had found and said it would cost anywhere from $10,000 to $14,000 to bring it up to code.  This was just for the wiring that currently existed.  Any new circuits or changes would be extra.  For the price we paid for the house and the values in the neighborhood, we decided this was within our limits to spend on the house.  We also discussed the possibility of removing the drywall from the walls to make it easier to remove the old wiring so that it would not have to be "fished" through the walls.  The electrician thought this would be a good idea and could reduce the cost as well as give us more flexibility in adding circuits, esp. in the kitchen.

Due to the estimate on the electrical, we decided to ask the bank owner for $3,500 towards our closing costs to compensate for this extra work.  We fully understood it was a foreclosure and that there would be problems, but the electrical issues were going to be a major expense.  We again asked God to use this opportunity to close the door if we were not supposed to buy this house so, when the bank agreed to our request, we were cleared for closing!