This can sometimes sour a buyer on a house if things are not as per the listing, but its common. Not good, just common.
I typically advise a licensed electrician be called in to evaluate the issue at hand, and most things can be corrected, Some cost a bit of money as you know.
I have a problem when I see the words like 'completely renovated' and on the listing sheet and it has 50-60 year old wiring behind new backsplashes on kitchen walls.
It would have been easier if the renovator just did the right thing.
Ray Wilson, president of Meticulous Home Inspection Corp., covers the 5 boroughs of NYC, and Long Island, and would be happy to answer any of your questions related to this blog, or inspection in general. Please call 631-902-6761 or go to www.meticuloushomeinspection.com, and Don't be ridiculous, call Meticulous!