Archive for May, 2008
“X” Marks The Spot in Honolulu
May 2nd, 2008 categories: Buying Honolulu Real Estate, Honolulu Real Estate 101
Paragraphs C-41, C-42 and C-43 of the Purchase Contract (PC) have to do with surveying a the corners and/or perimeters of the lot. When the surveyor is complete with his work all of he corners should have pins or marks which locate the location of the particular corner. This marks take the form of a steel rod, nail, or an “X” in the appropriate spot. When you are buying make it a priority to walk the lot and inspect the location of each mark.
Be sure to take the written survey with you as it may reflect relevant walls, side walks, sheds or other improvements near the property line. Once you own the the home, it is a good idea to make sure that the corner markers can be maintained. You can do this by pouring a small amount of cement around steel bars or making sure that other corners are cleared and marked with paint. If the locations are preserved and, if you keep a copy of the written survey, you may be able to use the survey you received when you purchased when it is time to sell (this could save you $1000’s of dollars).
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Knob & Tube Wiring it comes with the territory!
May 1st, 2008 categories: Honolulu Real Estate 101
Knob and tub wiring can be found in most vintage homes. If you find it, at some point, plan on rewiring the home. Depending on it’s size, the cost could be between $8000 and $15,000 or higher. There may not be any immediate safety issues (providing the wire coverings are intact and wires are not touching one another), but with today’s much higher need for electrical power the home may not have enough electrical juice to run all of you appliances, televisions, computers and hair dryers at the same time. Another issue is that most of these older electrical systems are not “grounded” which could means there are potential electrical shock issues (to you) and your electronics could be damaged by surges or electrical shorts.
If there is a gas utility available in the neighborhood, then you may not need to upgrade amount of electrical power to the home as the gas stove, clothes dryer and hot water heater will take a significant load. To protect your other electrical appliances you will still need to have the system grounded. Another issue created by knob and tube wiring has to do with insurance.
Many insurers will not offer policies at reasonable rates on homes with this type of wiring. So during your inspection period, be sure to confirm the availability of affordable home owner’s insurance. If you find it difficult to insure, some insurer may issue a policy if a licensed electrician will write a letter stating that the home’s electrical system is still “servicable”.
In summary, this should not keep you from buying a home, but understand that you will be required to put more effort into this type of system. Also, before you commit to buy a house, HAVE A LICENSED ELECTRICIAN INSPECT THE WIRING AND ELECTRICAL BOX.
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