Should a seller pay for a new electrical panel? (for sale, real estate)

[homebuying101]

I am currently looking to buy a 1965 house. I just had my home inspection and there were some flagged issues that need to be resolved, for example: many ungrounded outlets in the home, a Zinsco electrical panel known for frequent issues, some missing/damaged shingles on the roof that needs to be fixed, among other things. We hired an electrician to further assess the electrical panel and he found that "the buss bars are burnt and must be replaced due to potential fire hazard". I am not looking to bring up every little thing to see if the seller will fix it all. However, I did request for the seller to replace the electrical panel because of the hazard that was found. Is this something I should request the seller to pay for? I feel bad because of the cost. I'm not sure what to do. There are many other things that I will be fixing with my own money and if the Zinsco panel was found to be working just fine I would not ask the seller to replace it. I guess what I'm asking is, was it right for me to request that to the seller? Or am I just being greedy? I am a first time homebuyer so all this is new to me. Thank you in advance to all who respond.

[oldtrader]

This is a serious problem, and the seller should fix the problem, or take a tremendous discount of the price if he personally does not fix it. If they don't, they both can be sued for damages and cost to solve this problem. If the agent handling the listing does not reveal the problem, he/she could lose their real estate license over this. That is a serious problem.

If the seller wants to sell the home, and get it financed and the new buyer able to get insurance, now that this has been discovered and brought to his attention, he will have to fix the problem.

If you do not buy it, he and his agent have to make the potential buyers aware of this problem, so it can no longer be hidden from buyers. With that serious of a problem, no one will buy it, unless they can but at a tremendous discount, have the repairs to the electrical system done, and and still make a nice profit from taking care of the problem.

Your request should be, that the electrical system be brought up to code. There still may be problems you are not yet aware of in the electrical system, where it does not meet electrical code. By demanding it be brought up to code, you cover unknown problems.

If it was me, I would demand the electrical panel be replaced and the electrical system be brought up to code.

[MrRational]

Originally Posted by homebuying101

I am currently looking to buy a 1965 house.

I just had my home inspection and there were some flagged issues
a Zinsco electrical panel known for frequent issues,
We hired an electrician to further assess the electrical panel and he found that
"the buss bars are burnt and must be replaced due to potential fire hazard".

what I'm asking is, was it right for me to request that to the seller?

When a seller is faced with a repair request that is subjective... there's room to argue.
But there's nothing subjective about the old Zinsco panels.

fwiw though... I'd rather see a $1500-2000 credit for YOU to get the work done.

[homebuying101]

oldtrader and MrRational, I appreciate your helpful responses. Thank you!

[Electrician4you]

Hey man get rid of that panel ASAP. Get him to credit you 35-4000 bucks. That should cover the majority of the swap and bring up to code. Panel swaps aren’t cheap. I estimate 2500 easily even for your area. You’ll need permits. Those Zinsco’s are well known fire hazards also. Documented
What I would do is this. Have proof that the panels are problematic and tell him that no buyer will buy the house without the panel swap.

Have the new panel installed before you move in. Get a 200 amp panel. That will take care of all your needs. If you are planning on a work shop or barn you can do subpanels off your main.

Here’s some light reading on Zinsco
https://inspectapedia.com/electric/Z...cal_Panels.php

[Nodpete]

If you don't like the panel, don't buy the house, . If I was the seller I'd say, when you buy the house do what you want, it is/was code and if you don't like it, replace it yourself.

[oldtrader]

Originally Posted by Nodpete

If you don't like the panel, don't buy the house, . If I was the seller I'd say, when you buy the house do what you want, it is/was code and if you don't like it, replace it yourself.

With the problems of the electrical system, the Realtors and the Owner are required by law to reveal the problems, and no it no longer passes code. If the city inspected at the present time, they would red tag the home due to fire hazard.

Realtors will quit showing the home, when it is revealed the home has this severe electrical problems, and is no longer to code. Yes, Realtors have to inform buyers of such problems, when they show houses. If a potential buyer asks about it, they will tell them it has severe electrical problems, and only bargain hunters such as Flippers will want to see it, and they are going to want a huge discount.

The buyers are all going to insist the electrical system be brought up to code, or the home be lowered in price to more than cover the electrical problem.

Example. Years ago, a homeowner of a great ranch style home with a brick exterior and heavy shake roof sold a business he built from nothing for many millions of dollars. He built his mansion, and moved out. It was for sale. He had lowered the price several times and still no one wanted it, because the Realtors had to reveal it had a problem septic system that had to be pumped monthly, and the air conditioning/heating system would not keep the house warm in winter or cold in summer. It was not even getting lookers.

At the time I was an investment real estate broker, only working with investors, and large parcels. This house intrigued me. I called the septic contractor that pumped it. I knew him well, and asked him what was wrong with the septic system. He informed me nothing. The owner had a very large above ground pool, placed to cover the entire drain field he left up year around. This is a no-no with septic systems. He told me now the pool was gone, it would work perfect. I now inspected the heating problem. The system was a horizontal furnace under the house. I inspected it, and found a narrow panel held by wing nuts. I removed it and found the filter, which had not been changed in 15 years. There was a 2 inch thick coating looking like mud blocking the air flow. Took it out, and tested the heating system, and it worked perfectly.

I asked what would be the lowest price they would take for the home, and if I liked the price I would buy it. The Realtor got with the owner, and gave me a price I could not resist. I had my part time crew go in and paint the interior, etc., and had new flooring installed throughout. We moved into it ourselves, with a far below current value investment.

When Realtors reveal problems that the home in this tread has, Expensive to replace panel, and the home needs all outlets brought up to code, the home does not get sold for anywhere near it's value. Now it is known, the Seller and Realtor have to reveal condition to potential buyers, or they can be sued to fix the problem. If the seller has left the area, the Realtor is the one who has to pay. This is why smart Realtors carry Errors and Omissions insurance. Due to the type property I worked with, I had $1,000,000 in coverage and in all the years I was in business, I never had one claim against me.

Like the home I bought, no one wants that kind of problem, and the Realtors steer people away from it, and sell them homes without that type of problems. A smart owner would take the home off of the market until the panel and other electrical problem are brought up to code, and then relist it.

[Electrician4you]

Originally Posted by Nodpete

If you don't like the panel, don't buy the house, . If I was the seller I'd say, when you buy the house do what you want, it is/was code and if you don't like it, replace it yourself.

Sure you can do that. And nobody will buy the house with that panel. It’s walking in with a 3-4,000 dollar bill.